Indiana Administrative Code Title 877 - REAL ESTATE APPRAISER LICENSURE AND CERTIFICATION BOARD
Certainly! Here's an overview of Indiana Administrative Code Title 877, which pertains to the Real Estate Appraiser Licensure and Certification Board:
🏛 Overview of Title 877 IAC
Title 877 IAC is part of the Indiana Administrative Code, specifically focusing on the regulation and oversight of real estate appraisers within the state. This title is administered by the Indiana Real Estate Appraiser Licensure and Certification Board, which operates under the Indiana Professional Licensing Agency (PLA).
📜 Legal Framework
Statutory Authority: The board's creation and authority are established under Indiana Code § 25-34.1-8. This statute outlines the board's composition, powers, and duties, including the establishment of rules and regulations for appraiser licensure and certification
Rulemaking: The board promulgates rules under Title 877 IAC, which detail the procedures and requirements for appraiser licensure, certification, and conduct. These rules are designed to ensure that appraisers meet the necessary qualifications and adhere to professional standards.
📘 Key Provisions of Title 877 IAC
1. General Provisions (Article 1)
Rule 1: This rule provides definitions and general provisions applicable to the board's operations and the regulation of appraisers.
2. Licensure and Certification Requirements (Article 3)
Educational Requirements: Applicants must complete specific educational courses approved by the Appraisal Qualifications Board (AQB). For instance, to sit for the Indiana certified residential appraiser examination, applicants must meet the educational criteria established by the AQB.
Experience Requirements: Applicants must demonstrate a certain amount of practical experience. For example, a certified residential appraiser must have performed at least 2,500 hours of appraisal experience over a period of at least 24 months.
Examination: Candidates must pass an examination designed to assess their knowledge and understanding of real estate appraisal practices. The examination must be taken within one year of application; otherwise, the results may be voided.
3. Fee Schedule (Article 2)
The board establishes a fee schedule for various services, including:
Application for examination
Issuance of licenses or certificates
Renewal of licenses or certificates
Duplicate licenses or certificates
Certification of license to another state
Application for temporary practice permits
🛠 Board Operations
Meetings: The board holds regular meetings to discuss and make decisions on matters related to appraiser licensure and certification. These meetings are open to the public and provide an opportunity for stakeholders to engage with the board.
Disciplinary Actions: The board has the authority to take disciplinary actions against appraisers who violate the established rules and standards. This may include suspension or revocation of licenses, fines, or other corrective measures.
RELATED Blog
0 comments