(a) There is hereby created the Arkansas Appraiser Licensing and Certification Board, to be composed of ten (10) members as follows:
(1) (A) Seven (7) practicing certified or licensed appraisers, with the exception that at all times at least five (5) of the appraiser members of the board shall be state-certified appraisers.
(B) Of the seven (7) practicing appraiser members, no more than two (2) shall reside in the same congressional district of the four (4) Arkansas congressional districts as they now exist.
(C) Additionally, the seven (7) practicing appraiser members shall be representative of the various disciplines found in the appraisal profession, including without limitation residential appraisal, commercial and industrial appraisal, forestry and timberland appraisal, rural appraisal, and any other appraisal discipline that may be affected by the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(2) One (1) board member shall be a representative of financial institutions familiar with the appraisal process;
(3) One (1) senior citizen representative; and
(4) One (1) consumer representative.
(b) (1) (A) The Governor shall appoint the members of the board subject to confirmation by the Senate and may remove a member for cause.
(B) The Governor may, at his or her discretion, request additional names to be submitted from organizations mentioned in this subchapter eligible to fill appointments to the board.
(2) (A) The Governor may appoint two (2) appraiser board members from the state at large after consulting the:
(i) State chapters of national appraisal organizations that are members of the Appraisal Foundation or its successor; and
(ii) Association of Consulting Foresters of America, Inc., Arkansas Chapter.
(B) At least five (5) real estate appraiser members appointed to the board shall be members in good standing of one (1) of the Appraisal Foundation member organizations or the Association of Consulting Foresters of America, Inc., requiring qualified appraisal experience, education, and testing in order to become a designated member, in addition to adherence to standards of professional practice in order to retain such a designation.
(C) No practicing appraisers shall be denied the opportunity to submit their names for consideration to fill either of the two (2) at-large appointments to this board based solely upon membership or lack of membership in any particular appraisal organization.
(3) The Arkansas Bankers Association, the Arkansas Community Bankers Association, the Mortgage Bankers Association of Arkansas, Inc., and the Cornerstone Credit Union League each shall annually submit a list of two (2) names on or before January 15 of each calendar year to the Governor, and the financial member may be appointed from the lists of names provided.
(c) (1) (A) The term of each appraiser board member shall be three (3) years.
(B) The financial member representative, the senior citizen representative, and the consumer representative shall have three-year terms.
(2) Upon expiration of their terms, members of the board shall continue to hold office until the appointment and qualification of their successors.
(3) No person shall serve as a member of the board for more than two (2) consecutive terms.
(d) The members of the board will select a state-certified appraiser chair.
(e) Each member of the board may receive expense reimbursement and stipends in accordance with § 25-16-901 et seq.
Section: 17-14-202 17-14-203 17-14-204 17-14-205 17-14-206 NextLast modified: November 15, 2016