Section 40-60-30 - License requirement; exceptionsIt is unlawful for an individual to assume or use a title, designation, or abbreviation likely to create the impression that the person is a real estate appraiser or to engage in real estate appraisal activity or advertise as an appraiser without a valid license issued by the department. However, nothing in this chapter may be construed to apply to:
(1) A real estate licensee licensed in accordance with Chapter 57, Title 40 who performs valuation services of real estate for a client or customer on the condition that the valuation service is not referred to as an appraisal. In performing a valuation service, which federal law or regulation does not require a license or certified appraiser, the real estate licensee must disclose to the requesting party: "This valuation service may not be used for the purposes of obtaining financing in a federally related transaction.".(2) A forester registered pursuant to Chapter 27, Title 48 who performs valuation services on standing or growing timber or timberland located in this State and issues a valuation service on the timber or timberland, as permitted by Chapter 27, Title 48 and Regulation 53-13. When a valuation service is to be used in a federally related transaction, the registered forester must be licensed or certified under this chapter if required by federal law or regulation.(3) A person employed by a lender in the performance of valuation services, with respect to which federal law or regulations does not require a licensed or certified appraiser.(4) A person, credentialed by this board in the performance of valuation services, with respect to which federal law or regulation does not require a licensed or certified appraiser.Amended by 2024 S.C. Acts, Act No. 196 (HB 3278),s 3, eff. 5/21/2024.Amended by 2016 S.C. Acts, Act No. 243 (HB 5023), s 3, eff. 6/5/2016.2006 Act No. 257, Section 1. Prior Laws:1991 Act No. 12, Section 1; 1993 Act No. 143, Section 1; 2000 Act No. 335, Section 1.