DAR File No. 27132

Commerce, Real Estate

R162-101-2

Definitions.

NOTICE OF PROPOSED RULE

DAR File No.: 27132
Filed: 04/30/2004, 09:43
Received by: NL

RULE ANALYSIS

Purpose of the rule or reason for the change:

These changes are related to a proposed amendment to Rule R162-105. If the changes to that rule are enacted, the definition of "unclassified individual" will no longer be needed and will need to be replaced by a definition of "trainee." Minor housekeeping changes are also made. (DAR NOTE: The proposed amendment to Rule R162-105 is under DAR No. 27131 in this issue.)

Summary of the rule or change:

The definition of "unclassified individual" is deleted and replaced by a definition of "trainee." The Division of Real Estate no longer issues "registrations" to appraisers and therefore the word "registration" is no longer necessary where it appears in the definitions in this rule.

State statutory or constitutional authorization for this rule:

Subsection 61-2b-6(1)(l)

Anticipated cost or savings to:

the state budget:

None--Changing the names of the categories of unlicensed persons who may assist in an appraisal does not impact the State budget.

local governments:

None--Changing the names of the categories of unlicensed persons who may assist in an appraisal does not impact local government.

other persons:

None--Changing the names of the categories of unlicensed persons who may assist in an appraisal does not impact other persons.

Compliance costs for affected persons:

None--Changing the names of the categories of unlicensed persons who may assist in an appraisal will not cause either appraisers or their unlicensed assistants to incur any costs.

Comments by the department head on the fiscal impact the rule may have on businesses:

This rule filing contains minor technical amendments to the definitions provision pertaining to appraisers. There appears to be no fiscal impact to businesses as a result of this amendment.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Direct questions regarding this rule to:

Shelley Wismer at the above address, by phone at 801-530-6761, by FAX at 801-530-6749, or by Internet E-mail at swismer@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

06/14/2004

This rule may become effective on:

06/15/2004

Authorized by:

Dexter Bell, Director

RULE TEXT

R162. Commerce, Real Estate.

R162-101. Authority and Definitions.

R162-101-1. Authority.

101.1 The following administrative rules, applicable to the Division of Real Estate, Department of Commerce, have been established under the authority granted by Section 61-2b-6(1).

101.1.1 The authority to establish and collect fees is granted by Section 61-2b-37.

R162-101-2. Definitions.

101.2.1 AQB: the Appraiser Qualifications Board of The Appraisal Foundation, 1029 Vermont Avenue, N.W., Suite 900, Washington, D.C. 20005.

101.2.2 Board: the Utah Appraiser Licensing and Certification Board.

101.2.3 Classification: the type of[ registration,] license[,] or certification held by an appraiser.

101.2.4 Division: the Division of Real Estate of the Department of Commerce.

101.2.5 Reinstatement: renewing a license[, registration,] or certification for an additional period after its expiration date has passed but prior to six months after the expiration date.

101.2.6 Renewal: extending a license[, registration,] or certification for an additional period upon its expiration.

101.2.7 [Unclassified individual: An individual who does not hold any appraisal classification issued by the Division.]Trainee: a person who is working under the direct supervision of a State-licensed appraiser, a State-certified residential appraiser, or a State-certified general appraiser to earn points for licensure, and who meets the requirements of Section 105.3.3.

101.2.8 USPAP: The Uniform Standards of Professional Appraisal Practice published by The Appraisal Foundation, 1029 Vermont Avenue, N.W., Suite 900, Washington, D.C. 20005.

KEY: real estate appraisals, definitions

[July 16, 1999]2004

Notice of Continuation June 3, 2002

61-2b-20 to 61-2b-31

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For questions regarding the content or application of this rule, please contact Shelley Wismer at the above address, by phone at 801-530-6761, by FAX at 801-530-6749, or by Internet E-mail at swismer@utah.gov

For questions about the rulemaking process, please contact the Division of Administrative Rules (801-538-3764). Please Note: The Division of Administrative Rules is NOT able to answer questions about the content or application of these administrative rules.