Title 61, Title 61: Securities Division - Real Estate Division

61-2g-201. Duties and powers of division in general. (1) The division shall administer and enforce this chapter. (2) The division has the following powers and duties: The division shall: receive an application for licensing, certification, or registration; establish appropriate a…

61-2g-202. Division service fees -- Federal registry fees. (1) The division, with the concurrence of the board, shall establish and collect fees in accordance with Sectionfor its services under this chapter. 63J-1-504 (2) The division shall collect the annual registry fee establi…

61-2g-203. Division to publish roster of appraisers. (1) The division shall prepare and issue at least once each calendar year a roster of appraisers containing the information required by the Federal Financial Institutions Examination Council. The division shall transmit the ros…

61-2g-204. Real Estate Appraiser Licensing and Certification Board. (1) There is established a Real Estate Appraiser Licensing and Certification Board that consists of seven regular members as follows: one state-licensed or state-certified appraiser who may be either a residentia…

61-2g-205. Duties of board. (1) The board shall provide technical assistance to the division relating to real estate appraisal standards and real estate appraiser qualifications. The board has the powers and duties listed in this section. (2) The board shall: determine the experi…

61-2g-301. License or certification required. (1) Except as provided in Subsection, it is unlawful for a person to prepare, for valuable consideration, an appraisal, an appraisal report, a certified appraisal report, or perform a consultation service relating to real estate or re…

61-2g-302. Registration as trainee. (1) An individual shall register with the division as a trainee before the individual acts in the capacity of a trainee or earns experience for licensure. (2) Subject to Subsection, the board, with the concurrence of the division, shall make ru…

61-2g-304. Application for licensure, certification, or registration. (1) An application for the following shall be sent to the division on a form approved by the division: original certification, licensure, or registration; and renewal of certification, licensure, or registratio…

61-2g-304.5. Background checks. (1) An individual applying for licensure, certification, or registration under this chapter shall, at the time the individual files an application for licensure: submit to the division, with the individual's application, a fingerprint card in a for…

61-2g-305. Expiration of license, certification, or registration. (1) An initial license, certification, or registration issued under this chapter expires on the expiration date indicated on the license, certificate, or registration. (2) A renewal license, certification, or regis…

61-2g-306. Renewal of license, certification, or registration. (1) To renew a license, certification, or registration, before the license, certification, or registration expires, the holder of the license, certification, or registration shall submit to the division in compliance …

61-2g-307. Continuing education requirements. (1) As a prerequisite to renewal of a license, certification, or registration, the applicant for renewal shall present evidence satisfactory to the division of having met the continuing education requirements of this section. (2) A pe…

61-2g-308. Licensing, certification, or registration requirements for nonresidents -- Temporary license or certificate -- Revocation. (1) An individual applicant for licensure, certification, or registration under this chapter who is not a resident of this state shall submit with…

61-2g-309. Approval with conditions or restrictions, or denial, of licensure, certification, or registration. The division may, upon compliance with, on any of the grounds described in this chapter: (1) deny the issuance of a license, certification, or registration to an applican…

61-2g-310. Reciprocal licensure. (1) An applicant for licensure or certification in this state who is credentialed under the laws of any other state, territory, or district may obtain a reciprocal credential in this state if: the individual holds a current, valid credential issue…

61-2g-311. State-licensed appraiser -- Authority and qualifications. (1) A state-licensed appraiser is authorized to appraise complex and noncomplex 1-4 family residential units in this state having a transaction value permitted under the Financial Institutions Reform, Recovery, …

61-2g-312. State-certified appraisers -- Authority. (1) A state-certified residential appraiser: is authorized to appraise the types of real estate that a state-licensed appraiser is authorized to appraise; is authorized to appraise 1-4 unit residential real estate without regard…

61-2g-313. State-certified residential appraiser -- Authority and qualifications. (1) An applicant for certification as a residential appraiser shall provide to the division evidence of: the applicant's good moral character, honesty, competency, integrity, truthfulness, and gener…

61-2g-314. State-certified general appraiser -- Application -- Qualifications. (1) An applicant for certification as a general appraiser shall provide to the division evidence of: the applicant's good moral character, honesty, competency, integrity, truthfulness, and general fitn…

61-2g-315. Licensing, certification, and registration documents -- Assigned number to be used on contracts -- Surrender of documents upon suspension. (1) The division shall issue to a person licensed, certified, or registered under this chapter a document: stating that the person…

61-2g-316. Surrender of license. (1) The division may, by written agreement, accept the voluntary surrender of a license issued under this chapter. (2) Tender and acceptance of a voluntary surrender of a license under Subsection: (1) does not prevent the division from pursuing ad…

61-2g-401. State-certified and state-licensed appraisers -- Restrictions on use of terms -- Conduct prohibited or required -- Trainee. (1) The terms "state-certified general appraiser," "state-certified residential appraiser," and "state-licensed appraiser": may only be used to r…

61-2g-402. Principal place of business -- Display of documents -- Notify of changes -- Nonresidents. (1) A person licensed or certified under this chapter shall: designate and maintain a principal place of business; and conspicuously display the person's license or certification.…

61-2g-403. Professional conduct -- Uniform standards. (1) A person licensed, certified, or registered under this chapter shall comply with: generally accepted standards of professional appraisal practice; and generally accepted ethical rules to be observed by a real estate apprai…

61-2g-404. Registration, licensure, or certification prerequisite to suit for compensation. A 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 not bring or maintain an action as a plainti…

61-2g-405. Recordkeeping requirements. (1) Subject to Subsection, a person licensed or certified under this chapter shall retain for a period of five years the original or a true copy of: (2) each written contract engaging the person's services for real estate or real property ap…

61-2g-406. Contingent fees. (1) A person licensed or certified under this chapter who enters into an agreement to perform an appraisal may not accept a contingent fee. (2) A person may accept payment of a fixed fee or a contingent fee when the person: if the person is not license…

61-2g-407. Consultation reports -- Restrictions on use of terms. A person who presents or provides a price estimate or property tax information in accordance with Section, or prepares a written or oral consultation report, may not refer to the price estimate, property tax informa…

61-2g-501. Enforcement -- Investigation -- Orders -- Hearings. (1) The division may conduct a public or private investigation of the actions of: a person registered, licensed, or certified under this chapter; an applicant for registration, licensure, or certification; an applican…

61-2g-502. Disciplinary action -- Grounds. (1) The board may order disciplinary action, with the concurrence of the division, against a person: registered, licensed, or certified under this chapter; or required to be registered, licensed, or certified under this chapter. On the b…

61-2g-503. Reinstatement of license, certification, and registration. (1) An individual whose license, certification, or registration is revoked under this chapter: may not apply for renewal or reinstatement of that license, certification, or registration; and may apply for licen…

61-2g-504. Disciplinary hearing process. (1) The division and board shall comply with, in conducting any disciplinary proceedings under this chapter. Title 63G, Chapter 4, Administrative Procedures Act (2) Before disciplinary action may be taken under this chapter, the division s…

61-2g-505. Penalty for violating this chapter -- Automatic revocation. (1) In addition to being subject to a disciplinary action, a person required to be licensed, certified, or registered under this chapter who violates this chapter: is guilty of a class A misdemeanor, upon a co…