Title 62, Professions, Businesses and Trades

(a) No person other than a state certified real estate appraiser under this chapter shall assume or use that title or any title, designation or abbreviation likely to create the impression of certification as a real estate appraiser by this state. (b) (1) Only an individual who h…

No state law regulating real estate appraisers shall be more stringent than any federal law regulating real estate appraisers.

(a) (1) There is created an independent real estate appraiser commission under the division of regulatory boards in the department of commerce and insurance, whose duty shall be to administer and enforce this chapter.(2) The commission shall consist of nine (9) members, one (1) o…

(a) The commission shall meet at least three (3) times each year to conduct its business. Places of future meetings shall be decided by the vote of members at meetings. Written notice shall be given to each member of the time and place of each meeting of the commission at least t…

The commission shall adopt rules and regulations in aid or in furtherance of this chapter.

(1) The commission has the power and duty to:(1) Further define by regulation, for state licensed appraisers and with respect to each category of state certified real estate appraiser, the type of educational experience, appraisal experience and equivalent experience that will me…

The commission shall charge and collect fees to be utilized to fund activities that may be necessary to carry out this chapter.

(a) Applications for an initial registration, license or certification, a renewal license or certification and examinations shall be made in writing to the commission on forms approved by the commission. (b) Appropriate fees, as fixed by the commission pursuant to § 62-39-205, mu…

(a) A state licensed appraiser may perform appraisals of the following properties:(1) All properties with a transaction value of up to two hundred fifty thousand dollars ($250,000);(2) Noncomplex residential properties with a transaction value up to, but not including, one millio…

(1) To qualify for a real estate appraiser license, an applicant must:(1) Have a high school diploma or its equivalent; and(2) Have met the current requirements for licensure as set forth by the appraisal qualifications board of the appraisal foundation. (1) Have a high school di…

(a) As a prerequisite to making application for licensure as a state-licensed real estate appraiser, a state-certified residential real estate appraiser or a state-certified general appraiser, an applicant must register as a real estate appraiser trainee, in addition to all other…

If the commission determines that an applicant meets the requirements of this chapter and is qualified for a real estate appraiser license, it shall issue a license to the applicant that shall expire two (2) years following the date of issuance unless revoked or suspended prior t…

(a) The commission shall promulgate regulations to ensure that each individual renewing the individual's license as a real estate appraiser under this chapter has a working knowledge of current real estate appraisal theories, practices and techniques that will enable the individu…

(a) To renew a current, valid real estate appraiser license, the holder of the license shall file an application on a form approved by the commission and pay the prescribed renewal fee to the commission no earlier than one hundred twenty (120) days prior to the expiration date of…

The commission has the power to discipline and penalize a license or certificate holder for violations of this chapter or the rules and regulations of the commission.

(a) There shall be at least two (2) classes of certification for state certified real estate appraisers. These classes shall include:(1) The state certified residential real estate appraiser classification shall consist of those persons meeting the requirements for certification …

(1) It is the intent of this chapter that any certification examination be consistent with and equivalent to the uniform state certification examination issued or endorsed by the appraisal qualifications board of the appraisal foundation, and the commission may adopt changes in t…

(a) As a prerequisite to taking the examination for certification as a state-certified general real estate appraiser, applicants shall submit satisfactory evidence that they have met the current requirements for certification as a certified general real estate appraiser as set fo…

(a) As a prerequisite to certification, a person must have completed the appraisal experience requirement currently set forth by the appraisal qualifications board of the appraisal foundation. (b) Each applicant for certification shall furnish under oath a detailed listing of the…

(a) The initial certification issued under the authority of this chapter shall expire upon the expiration date of the certificate held by a certificate holder. Thereafter, the term of a certificate issued under the authority of this chapter shall be two (2) years from the date of…

To obtain a renewal certificate as a state certified real estate appraiser, the holder of a current, valid certificate shall make application and pay the prescribed fee to the commission no earlier than one hundred twenty (120) days prior to the expiration date of the certificate…

The commission may deny the issuance of a certificate as a state licensed or certified real estate appraiser to an applicant who has been convicted of a felony or on any of the grounds enumerated in this chapter.

(a) Each state licensed or certified real estate appraiser shall advise the commission of the address of the appraiser's principal place of business and all other addresses at which the appraiser is currently engaged in the business of preparing real property appraisal reports. (…

No person engaged in the business of real estate appraising in this state or acting in the capacity of a real estate appraiser in this state may bring or maintain any action in any court of this state to collect compensation for the performance of real estate appraisal services f…

(a) Any person required by this chapter to be licensed who engages in real estate appraisal activity in this state without obtaining a license for the appraisal activity or who violates this chapter commits a Class A misdemeanor and shall be ineligible to obtain a license for a p…

The commission shall prepare and issue at least once each calendar year a roster showing the name and place of business of each real estate appraiser currently licensed and each real estate appraiser currently certified.

The commission, upon payment of a fee in an amount specified in its regulations, shall issue a letter stating that a license or certificate holder is in good standing in this state.

(a) If, in the determination of the commission, a state is deemed to have meaningful requirements for licensure and certification, then the commission shall grant reciprocal rights to licensees and certificate holders who are in good standing in that state. (b) The commission sha…

(a) A license or certificate issued under authority of this chapter shall bear the license or certificate number assigned by the commission. (b) Each state licensed real estate appraiser shall place the real estate appraiser's license number adjacent to or immediately below the t…

(a) “State certified real estate appraiser,” “state certified residential real estate appraiser,” “state certified general real estate appraiser” or “state licensed real estate appraiser” may only be used to refer to individuals who hold the license or certificate and may not be …

(a) In accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commission shall promulgate rules to ensure that each individual renewing the individual's license or certificate has a working knowledge of current real estate appraisal theorie…

(1) The rights of any applicant or holder under a certificate as a state licensed or certified real estate appraiser may be revoked, suspended or restricted, or the owner of the certificate may be assessed a civil penalty of up to one thousand dollars ($1,000) per violation, or o…

(a) Before suspending or revoking any license or certification, the commission shall notify the appraiser in writing of any charges within a reasonable period of time prior to the date set for the hearing and shall afford the appraiser an opportunity to be heard in person or by c…

The hearing on the charges shall be at a time and place prescribed by the commission and in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.

It is the intent of this chapter that real estate appraisals be performed in accordance with generally accepted appraisal standards; therefore, state licensed and/or certified real estate appraisers must comply with the Uniform Standards of Professional Appraisal Practice promulg…

A client or employer may retain or employ a state licensed or certified real estate appraiser to act as a disinterested third party in rendering an unbiased estimate of value or analysis. A client or employer may also retain or employ a state licensed or certified real estate app…

(a) A state licensed or certified real estate appraiser may not accept a fee for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis or opinion or is contingent upon the opinion, conclusion or valuation reached or upon the co…

(a) A state licensed or certified real estate appraiser shall retain the following records for five (5) years or for at least two (2) years after the disposition of any civil, criminal or administrative proceeding in which testimony was given about an appraisal assignment or appr…

(a) The commission shall have the authority to promulgate rules and regulations pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, as may be necessary to ensure compliance with the Financial Institutions Reform, Recovery and Enforcement Act of …

This chapter shall not act or be construed to prohibit a real estate broker licensed under chapter 13 of this title from testifying as to the value of property in court cases as an expert witness and receiving a fee for the testimony subject to review by the court.

It is the legislative intent that this chapter shall not require an applicant to have more than the minimum hourly requirements of education and experience in order to qualify for full licensure or certification. The minimum requirements are those requirements set forth by the ap…

(a) The commission may issue a temporary practice permit to a nonresident of this state who is properly licensed or certified in another state. The holder of a valid temporary practice permit shall be authorized to perform appraisals in this state subject to the requirements of t…

This part is known and may be cited as the “Tennessee Appraisal Management Company Registration and Regulation Act.”

(1) For purposes of this part, unless the context otherwise requires:(1) “Affiliate” has the meaning provided in 12 U.S.C. § 1841;(2) “AMC National Registry” means the registry of state-registered AMCs and federally regulated AMCs maintained by the appraisal subcommittee;(3) “App…

(a) No person shall directly or indirectly engage or attempt to engage in business as an appraisal management company, to directly or indirectly engage or attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as…

(1) This part shall not apply to:(1) A national or state bank or federal or state savings institution that is subject to direct regulation or supervision by an agency of the United States government, or by the department of financial institutions, that receives a request for the …