N.Y. Comp. Codes R. & Regs. tit. 19 § 1103.7

Current through Register Vol. 46, No. 36, September 4, 2024

Section 1103.7 - National Uniform Standards of Professional Appraisal Practice (USPAP) course

(a) Effective until December 31, 2002, an appraisal course for ethics and standards of professional practice shall include at least 10 hours of instruction related to the National USPAP. An appraisal course may contain up to five hours of other topics related to ethics and standards of professional practice such as:

(1) background of ethics and standards/regulations and legislation;

(2) title XI Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA);

(3) New York State appraiser certification laws.

(b) Effective January 1, 2003, an appraisal course for ethics and standards of professional practice must consist of the 15-hour "National USPAP course" or its equivalent. An appraisal course is equivalent only if it has been certified as equivalent by the Appraisal Qualification Board of the Appraisal Foundation.

(c) The National USPAP course, or its equivalent, and the USPAP update course shall be taught by an instructor who has been certified as a "certified USPAP instructor" by the Appraisal Qualification Board of the Appraisal Foundation and who is either a certified residential real estate appraiser or a certified general real estate appraiser in New York or any other state.

(d) National USPAP course outline. Contact the Appraisal Foundation for the current outline for the 15-hour USPAP course. The most current copy must be submitted to the Department of State for approval. All appraisal schools must utilize the Appraisal Foundation course outline in conducting their programs.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 1103.7