Code of Alabama - Title 34: Professions and Businesses - Chapter 27A - Real Estate Appraisers

• Article 1 Real Estate Appraisers.
• Section 34-27A-1 Short title
  This article shall be known and may be cited as the "Alabama Real Estate Appraisers and Appraisal Management Company Registration and Regulation Act."
• Section 34-27A-2 Definitions
  The following terms as used in this article shall have the following meanings: (1) APPRAISAL. The act or process of developing an opinion of value...
• Section 34-27A-3 License required to do certain acts; unlawful behavior; violations; assistance with appraisal; evaluations
  (a) It shall be unlawful for any person, partnership, or corporation, for a fee or other valuable consideration, or with the intention or expectation of...
• Section 34-27A-4 Board created; composition; meetings; compensation
  There is established the Alabama Real Estate Appraisers Board. The board shall consist of nine members, one of whom shall be a qualified individual from...
• Section 34-27A-5 Rulemaking authority; powers and duties of board; immunity from suit
  (a) The board shall act by a majority vote of its members to adopt administrative rules necessary, from time to time, to carry out this...
• Section 34-27A-6 Fees; payment into Real Estate Appraisers Board Fund
  (a) The board shall have the authority to set and regulate fees necessary for its operation as a self sustaining board which fees shall be...
• Section 34-27A-7 Application for licensure and examination; fees; pledge; conditions
  (a) Applications for original license, renewal license, and examinations shall be made in writing to the board on forms approved by the board. (b) Appropriate...
• Section 34-27A-9 Classes of appraisers
  (a) There shall be five classes of real estate appraisers licensed by the board. The classes may be revised or other classes added if necessary...
• Section 34-27A-10 Written examinations for licensure
  (a) Except as provided in Section 34-27A-7, an original license as a licensed real estate appraiser shall not be issued to any person who has...
• Section 34-27A-11 Education and experience requirements for licensure
  (a) Certified general real property appraiser classification. As a prerequisite to taking the examination for licensure as a certified general real property appraiser, an applicant...
• Section 34-27A-11.1 Reclassification of licensed real estate appraisers as registered real property appraisers
  Existing appraisers who are licensed as licensed real estate appraisers (ALs) may reclassify into the registered real property appraiser classification by submitting a log of...
• Section 34-27A-12 Written reports, etc., to be furnished by applicant
  (a) An original certificate for any classification as a licensed real estate appraiser shall not be issued to any person who does not possess the...
• Section 34-27A-13 Term of license; fees
  (a) Except for the initial license period, the term of a license issued under this article shall be two years expiring on September 30, 1993,...
• Section 34-27A-14 Nonresidents; consent to service of process; eligibility for licensure; temporary recognition
  (a) Every applicant for licensure under this article, who is not a resident of this state, shall submit with the application an irrevocable consent that...
• Section 34-27A-15 Renewal license - Time for application and payment of fee; evidence of continuing education; extension; late renewal
  (a)(1) To obtain a renewal license for any real estate appraiser classification, the holder of a current, valid license shall make application and pay the...
• Section 34-27A-16 Principal place of business; notice of change; notice of residence address
  (a) The principal place of business referred to in this article shall be located in the State of Alabama and each licensed real estate appraiser...
• Section 34-27A-17 Signatures on license; display of license number
  (a) A license issued under this article shall bear the signature or facsimile signature of the executive director of the board and a license number...
• Section 34-27A-18 Licensure restrictions
  (a) The term "licensed real estate appraiser" or "certified real estate appraiser" may only be used to refer to individuals who hold the license and...
• Section 34-27A-19 Continuing education requirements; regulations; requirement for reinstatement
  (a) As a prerequisite to renewal of a license to appraise real estate, the licensed real estate appraiser, licensed for any classification under this article,...
• Section 34-27A-20 Revocation or suspension of license - Grounds; disciplinary proceedings; administrative fines
  (a) The board may investigate the actions of a licensed real property appraiser on complaint or on its own motion, and may revoke or suspend...
• Section 34-27A-21 Revocation or suspension of license or certificate - Notice; representation; subpoena and deposition power
  (a) Before suspending or revoking any license or certification, the board shall notify the appraiser in writing of any charges made at least 20 days...
• Section 34-27A-22 Revocation or suspension of license - Hearing; findings; judicial review as to questions of law
  (a) The hearing on the charges shall be at a time and place prescribed by the board and in accordance with this article. (b) If...
• Section 34-27A-23 Uniform Standards of Professional Appraisal Practice
  A licensed real estate appraiser shall comply with the current Uniform Standards of Professional Appraisal Practice approved by the board except when performing an evaluation...
• Section 34-27A-24 Retention of appraiser; appraisal assignment
  (a) A client or employer may retain or employ a licensed real estate appraiser to act as a disinterested third party in rendering an unbiased...
• Section 34-27A-25 No fee for certain contingent appraisal assignments
  A licensed real estate appraiser may not accept a fee for an appraisal assignment, as defined in Section 34-27A-24, that is contingent upon the appraiser...
• Section 34-27A-26 Retention of contracts and records
  (a) All real property appraisers shall prepare written records of appraisal, review, and consulting assignments, including oral testimony and reports, and shall retain the records...
• Section 34-27A-27 Alabama Real Estate Appraisers Board Fund
  There is established a separate special revenue trust fund in the State Treasury to be known as the Alabama Real Estate Appraisers Board Fund. All...
• Section 34-27A-28 Sunset provision
  The Alabama Real Estate Appraisers Board shall be an enumerated board pursuant to Sections 41-20-1 through 41-20-16, and shall be reviewed at the same time...
• Section 34-27A-29 Compliance with federal law; membership in organization not to be grounds for granting or denying license
  It is the intent of the Legislature of the State of Alabama that this article fully comply with the provisions of the Financial Institutions Reform,...
• Article 2 Real Estate Appraisal Management Companies.
• Section 34-27A-50 Registration required
  (a) It is unlawful for any person or entity to engage in or attempt to engage in business as an appraisal management company, perform appraisal...
• Section 34-27A-51 Application; certificate of registration
  (a) Application for registration under this article shall be made in writing to the board on forms prescribed by the board and shall include all...
• Section 34-27A-52 Limitations on ownership and employment
  (a) An appraisal management company applying for registration in this state may not be owned, in whole or in part, directly or indirectly, by any...
• Section 34-27A-53 Principal contact
  An appraisal management company applying for registration in this state shall designate one principal contact for all communication between the board and the appraisal management
• Section 34-27A-54 Adoption of rules; revision of requirements
  The board may adopt rules not inconsistent with this article which are reasonably necessary to implement, administer, and enforce this article. The requirements for an...
• Section 34-27A-55 Fees; surety bond; renewal of registration
  (a) The board shall establish by rule fees to be charged to an appraisal management company in an amount sufficient to sustain administration of this...
• Section 34-27A-56 Registration numbers
  (a) The board shall issue a unique registration number to each appraisal management company and shall annually publish a list of registered appraisal management companies...
• Section 34-27A-57 Duties of appraisal management company
  An appraisal management company shall do all of the following: (1) Annually certify to the board, on a form prescribed by the board, that the...
• Section 34-27A-58 Confirmation of competency; when payments due
  (a) Before placing an assignment with an appraiser, an appraisal management company shall require that the appraiser confirm in writing or via electronic means that...
• Section 34-27A-59 Removal of appraiser from appraiser panel
  An appraisal management company may not remove an appraiser from an appraiser panel without: (1) Providing written notice to the appraiser of the reasons for...
• Section 34-27A-60 Unlawful influencing of appraisal
  (a) It is unlawful for any employee, director, officer, or agent of an appraisal management company to influence or attempt to influence the development, reporting,...
• Section 34-27A-61 Penalties
  The board may censure, conditionally or unconditionally suspend registration, revoke registration, levy fines, or impose civil penalties not exceeding twenty-five thousand dollars ($25,000) against any...
• Section 34-27A-62 Adjudicatory proceedings for violations
  (a) The board shall conduct adjudicatory proceedings for any violation of this article in accordance with the Administrative Procedure Act. Adjudicatory proceedings shall include, but...
• Section 34-27A-63 Applicability
  This article does not apply to: (1) A financial institution that is regulated by a federal financial institution regulatory agency or a department, division, or...

Last modified: May 3, 2021