Arkansas Appraiser Licensing and Certification Board

Arkansas Code Annotated
Title 17. Professions, Occupations, and Businesses
Subtitle 2. Nonmedical Professions (Chapters 10 to 79)
Chapter 14. Appraisers (Refs & Annos)
Subchapter 2. Arkansas Appraiser Licensing and Certification Board (Refs & Annos)


§ 17-14-201. Creation, composition, etc.

(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.

§ 17-14-202. Powers and duties--Reporting standards--Qualification Standards

(a) The Arkansas Appraiser Licensing and Certification Board may establish, maintain, report, and periodically update meaningful qualification standards for state-licensed and state-certified appraisers practicing in the State of Arkansas, including testing, experience, and educational requirements that:
(1) Are adequate to demonstrate knowledge and competency; and
(2) Will further demonstrate the continued compliance with:
(A) All applicable federal law and regulations, including Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989,1 and related requirements of the federal financial institutions regulatory agencies; and
(B) The minimum standards and qualifications as promulgated by the Appraisal Standards Board and the Appraiser Qualifications Board of the Appraisal Foundation and as approved by the Appraisal Subcommittee.
(b) The Arkansas Appraiser Licensing and Certification Board may adopt, maintain, report, and periodically update minimum reporting standards for state-registered, state-licensed, and state-certified appraisers practicing in the State of Arkansas. The reporting standards shall:
(1) Be equivalent to the “Uniform Standards of Professional Appraisal Practice” as promulgated by the Appraisal Standards Board of the Appraisal Foundation; and
(2) At all times seek compliance with:
(A) All applicable federal law and regulations, including Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and related requirements of the federal financial institutions regulatory agencies; and
(B) The minimum standards as promulgated by the Appraisal Standards Board of the Appraisal Foundation and as approved by the Appraisal Subcommittee.

§ 17-14-203. Powers and duties--In general

In accordance with these general powers and duties, the Arkansas Appraiser Licensing and Certification Board shall:
(1) Perform all duties and functions necessary to carry out this chapter;
(2) Receive applications for registering, licensing, and certification;
(3) Establish administrative procedures for processing applications;
(4)(A) Approve and issue registration, licenses, and certificates to qualified applicants or disapprove applications for registering, licensing, and certification for applicants who do not meet the minimum requirements as prescribed in this chapter.
(B) All application materials and records submitted to the Arkansas Appraiser Licensing and Certification Board shall be retained by the Arkansas Appraiser Licensing and Certification Board;
(5) Maintain a roster of the names, addresses, and telephone numbers of all persons licensed and certified under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., and, in accordance with sections 1103(a)(3) and 1109(a)(1) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989,1shall submit this roster annually to the Appraisal Subcommittee. This roster may be published and periodically updated and provided to all interested parties at cost;
(6)(A) Establish by rule the minimum examination, education, experience, and continuing education requirements for state-registered, state-licensed, and state-certified appraisers.
(B)(i) The criteria for a state-registered appraiser shall be less rigorous than the criteria for a state-licensed appraiser.
(ii) The criteria for a state-licensed appraiser shall be less rigorous than the criteria for a state-certified appraiser. However, the criteria will ensure that licensed appraisers have sufficient experience and training to perform appraisals for transactions within and in compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.2
(C) These rules shall at all times be equivalent to the minimum appraiser-qualification criteria as promulgated by the Appraiser Qualifications Board of the Appraisal Foundation for state-licensed and state-certified appraisers performing federally related transactions.
(D) With respect to examinations, these rules shall at all times require minimum examination contents that are equivalent to the national uniform examination content as promulgated by the Appraiser Qualifications Board of the Appraisal Foundation and shall provide for the selection and utilization of a testing service acceptable to the Appraiser Qualifications Board of the Appraisal Foundation.
(E)(i) Every application for registering, licensing, and certification shall be accompanied by an application and examination fee, as applicable, that the Arkansas Appraiser Licensing and Certification Board may establish by regulation.
(ii) However, the Arkansas Appraiser Licensing and Certification Board, at its discretion, may direct each applicant to pay the actual cost of the examination fee directly to a testing service engaged by the Arkansas Appraiser Licensing and Certification Board to administer the examination.
(F) The examination fee for registering, licensing, or certification shall not exceed one hundred dollars ($100).
(G) The total annual resident registering, licensing, certification, and application fees established by the Arkansas Appraiser Licensing and Certification Board shall not exceed three hundred dollars ($300), excluding fees for applicable examination and federal pass-through fees.
(H) Courses, schools, seminars, and any other educational programs must be recognized by the Arkansas Appraiser Licensing and Certification Board as acceptable to satisfy registration, licensing, and certification standards and continuing education requirements under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(7)(A) Establish administrative procedures for disciplinary proceedings conducted under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.
(B) The administrative procedures shall include provisions for the suspension and revocation of registration, licenses, and certificates and the enforcement of civil penalties concurrent with existing statutes regarding civil procedures;
(8) Subpoena and issue subpoena duces tecum and to bring before it any person in this state, and to take testimony by deposition, in the same manner as prescribed by law in judicial proceedings in the courts of this state or to require production of any records relevant to any inquiry or hearing by the Arkansas Appraiser Licensing and Certification Board;
(9) Recommend procedures necessary to assure the ready availability to appraisers in the state of adequate and reliable information regarding property prices and the terms and conditions of real estate and real property transactions and related financing;
(10) Establish administrative procedures for the setting, charging, and collecting of fees necessary for the operation of the Arkansas Appraiser Licensing and Certification Board and to concurrently collect and submit to the proper agency as prescribed under section 1109(a)(2) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and any other related federal law, any additional fees that may from time to time be required to be paid by appraisers whose practices include the appraisal of properties included in federally related transactions; and
(11) Be authorized to adopt and enforce such administrative rules as may be necessary to comply with state law and federal law with specific reference to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 as it exists today and as it may be amended and adopted by the Appraisal Subcommittee.

§ 17-14-204. Meetings; notice; requirements

(a) The Arkansas Appraiser Licensing and Certification Board shall meet not less frequently than twice each calendar year to conduct its business.
(b) Places of future meetings shall be decided by the vote of members at meetings.
(c) Written notice shall be given to each member of the time and place of each meeting of the board at least ten (10) days before the scheduled date of the meetings.
(d) An administrative secretary shall be present at all meetings of the board and shall record the minutes of all meetings, the record of which shall be made a permanent part of the records of the board.
(e) A quorum of the board shall be six (6) members, provided that four (4) must be state-licensed or state-certified appraisers. No binding decisions or regulatory changes may be made by the board in the absence of a quorum.

§ 17-14-205. Hearings--Review--Access to records

(a) In fulfilling its duties under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and§ 17-14-301 et seq., the Arkansas Appraiser Licensing and Certification Board shall comply with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., and any person aggrieved by any rule or other actions of the board for which an appeal is not provided for in the Arkansas Administrative Procedure Act, § 25-15-201 et seq., may appeal to the Pulaski County Circuit Court.
(b) Disciplinary hearings conducted by the board for the purpose of determining whether to levy civil penalties under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., and for the purpose of determining whether to revoke or suspend any license or certificate issued under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., shall not be deemed open public meetings but shall be executive sessions conducted as provided for in the Freedom of Information Act of 1967, § 25-19-101 et seq.
(c) Sample appraisals and other work papers submitted to the board as partial fulfillment of the requirements for licensure or certification under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., shall not be deemed public records under the Freedom of Information Act of 1967, § 25-19-101 et seq.

 § 17-14-206. Complaints and disciplinary procedures

(a) Upon its own motion or upon written complaint of any person and after notice and hearing as prescribed by the Arkansas Administrative Procedure Act, § 25-15-201 et seq., the Arkansas Appraiser Licensing and Certification Board may suspend or revoke the registration, license, or certification of any registrant, licensee, or certificate holder and issue a fine up to the amount of one thousand dollars ($1,000) per violation occurrence or take any other appropriate disciplinary action for:
(1) Violation of any provision of the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(2) Falsifying any application for licensure or certification or otherwise providing any false information to the board;
(3)(A) Conviction in any jurisdiction of any misdemeanor involving moral turpitude or of any felony.
(B) A plea of nolo contendere or no contest shall be considered a conviction for the purposes of this section;
(4) Any actions demonstrating untrustworthiness, incompetence, dishonesty, gross negligence, material misrepresentation, fraud, or unethical conduct in any dealings subject to the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(5) Adjudication of insanity;
(6) Use of advertising or solicitation that is false, misleading, or is otherwise deemed unprofessional by the board;
(7) Employing directly or indirectly any unlicensed person to perform any actions subject to the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.;
(8) Habitual or excessive use of intoxicants or illegal drugs; or
(9) Failure to meet continuing education requirements within the proper time period.
(b) Except in cases in which a licensee, registrant, or certificate holder has obtained a license by false or fraudulent representation, the board shall not investigate the actions of or conduct any disciplinary hearing regarding any licensee, registrant, or certificate holder unless the complaint is filed or the investigation is initiated within three (3) years from the date of the actions complained of or concerning which an investigation is initiated.

Ark. Code Ann. §§ 17-14-201-06