Ala. Admin. Code r. 780-X-17-.11

Current through Register Vol. 43, No. 02, November 27, 2024

Section 780-X-17-.11 - Appraiser Competency

(a) Before an appraiser is added to a panel, an appraisal management company shall require the appraiser to declare in writing or via electronic means that the appraiser receiving the assignment is a competent appraiser for the performance of the appraisal being assigned.

(b) An appraisal management company must select an appraiser for an assignment who has the requisite education, expertise, and experience to complete competently the assignment for the particular market and property type.

(c) An appraisal management company shall annually certify to the Board, on a form prescribed by the Board, that the appraisal management company requires appraisers to update this declaration at least annually.

Ala. Admin. Code r. 780-X-17-.11

New Rule: Filed November 18, 2011; effective December 23, 2011.

Amended by Alabama Administrative Monthly Volume XXXIV, Issue No. 01, October 30, 2015, eff. 11/16/2015.

Author: Lisa Brooks, Executive Director, Alabama Real Estate Appraisers Board

Statutory Authority:Code of Ala. 1975, §§ 34-27A-54, 34-27A-58.