Full Text of HB5868 96th General Assembly
HB5868ham002 96TH GENERAL ASSEMBLY
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Rep. Angelo Saviano
Filed: 3/19/2010
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LRB096 18123 ASK 39273 a |
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| AMENDMENT TO HOUSE BILL 5868
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| AMENDMENT NO. ______. Amend House Bill 5868, AS AMENDED, by | 3 |
| replacing everything after the enacting clause with the | 4 |
| following:
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| "Section 5. The Real Estate Appraiser Licensing Act of 2002 | 6 |
| is amended by changing Sections 1-10, 5-5, 10-10, 15-5, 15-15, | 7 |
| and 25-10 and by adding Section 5-20.3 as follows:
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| (225 ILCS 458/1-10)
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| (Section scheduled to be repealed on January 1, 2012)
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| Sec. 1-10. Definitions. As used in this Act, unless the | 11 |
| context
otherwise requires:
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| "Accredited college or university, junior college, or | 13 |
| community college" means a college or university, junior | 14 |
| college, or community college that is approved or accredited by | 15 |
| the Board of Higher Education, a regional or national | 16 |
| accreditation association, or by an accrediting agency that is |
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| recognized by the U.S. Secretary of Education.
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| "Applicant" means person who applies to the Department
for | 3 |
| a license under this Act.
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| "Appraisal" means
(noun) the act or process of developing | 5 |
| an opinion
of value; an
opinion of value (adjective) of or | 6 |
| pertaining to appraising
and related functions, such as | 7 |
| appraisal practice or appraisal services. | 8 |
| "Appraisal assignment" means a valuation service provided | 9 |
| as a consequence of an agreement between an appraiser and a | 10 |
| client. | 11 |
| "Appraisal company" means any individual, corporation, | 12 |
| partnership, sole proprietorship, subsidiary, unit, or other | 13 |
| business entity that (i) administers networks of independent | 14 |
| contractor appraisers to perform real estate appraisal | 15 |
| services for clients; (ii) receives requests for real estate | 16 |
| appraisal services from clients and enters into an agreement | 17 |
| with one or more independent contractor appraisers to perform | 18 |
| the real estate appraisal services contained in the request; or | 19 |
| (iii) otherwise serves as a third-party broker of appraisal | 20 |
| services between clients and appraisers. | 21 |
| For the purposes of this definition, "appraisal company" | 22 |
| includes an appraisal management company. | 23 |
| "Appraisal consulting" means the act or process of | 24 |
| developing an analysis, recommendation, or opinion to solve a | 25 |
| problem, where an opinion of value is a component of the | 26 |
| analysis leading to the assignment results. |
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| "Appraisal management company" means a business entity | 2 |
| that (i) administers a network of certified and licensed | 3 |
| appraisers to fulfill real estate appraisal assignments on | 4 |
| behalf of mortgage lending institutions, as well as other | 5 |
| entities; (ii) recruits, qualifies, verifies the licensing of, | 6 |
| and negotiates fees and service level expectations with a | 7 |
| network of third-party appraisers; (iii) provides | 8 |
| administrative duties including order entry and assignment, | 9 |
| tracking and status updates, pre-delivery quality control, and | 10 |
| preliminary and hard copy report delivery; and (iv) involves | 11 |
| ongoing quality control, accounts payable and receivable, | 12 |
| market value dispute resolution, warranty administration, and | 13 |
| record retention. | 14 |
| "Appraisal practice" means valuation services performed by | 15 |
| an individual acting as an appraiser, including, but not | 16 |
| limited to, appraisal, appraisal review, or appraisal | 17 |
| consulting.
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| "Appraisal report" means any communication, written or | 19 |
| oral, of an appraisal, appraisal review, or appraisal | 20 |
| consulting service that is transmitted to a client upon | 21 |
| completion of an assignment.
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| "Appraisal review" means the act or process of developing | 23 |
| and communicating an opinion about the quality of another | 24 |
| appraiser's work that was performed as part of an appraisal, | 25 |
| appraisal review, or appraisal assignment.
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| "Appraisal Subcommittee" means the Appraisal Subcommittee |
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| of the Federal
Financial Institutions
Examination Council as | 2 |
| established by Title XI.
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| "Appraiser" means a person , corporation, limited liability | 4 |
| company, registered limited liability partnership, or | 5 |
| partnership that who performs
real estate or real property
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| appraisals. "Appraiser" does not mean an appraisal company or | 7 |
| appraisal management company.
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| "AQB" means the Appraisal Qualifications Board of the | 9 |
| Appraisal Foundation.
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| "Associate real estate trainee appraiser" means an | 11 |
| entry-level appraiser who holds
a license of this | 12 |
| classification under this Act with restrictions as to the scope | 13 |
| of practice
in
accordance with this Act.
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| "Board" means the Real Estate Appraisal Administration and | 15 |
| Disciplinary Board.
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| "Classroom hour" means 50 minutes of instruction out of | 17 |
| each 60 minute
segment of coursework.
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| "Client" means (i) the party or parties who engage an | 19 |
| appraiser or appraisal management company by employment or | 20 |
| contract in a specific assignment or (ii) the person who | 21 |
| utilizes the services of an appraiser or engages an appraiser | 22 |
| for an appraisal by employment or contract in a specific | 23 |
| assignment .
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| "Coordinator" means the Coordinator of Real Estate | 25 |
| Appraisal of the Division of Professional Regulation of the | 26 |
| Department of Financial and Professional Regulation.
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| "Department" means the Department of Financial and | 2 |
| Professional Regulation.
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| "Due date" means the agreed upon date, based on Central | 4 |
| Standard Time, by which an assignment result is to be received | 5 |
| by the client. | 6 |
| "Federal financial institutions regulatory agencies" means | 7 |
| the Board of
Governors of the Federal Reserve
System, the | 8 |
| Federal Deposit Insurance Corporation, the Office of the
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| Comptroller of the Currency, the
Office of Thrift Supervision, | 10 |
| and the National Credit Union Administration.
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| "Federally related transaction" means any real | 12 |
| estate-related financial
transaction in which a federal
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| financial institutions regulatory agency, the Department of | 14 |
| Housing
and Urban Development, Fannie Mae, Freddie Mae, or the | 15 |
| National
Credit Union Administration
engages in, contracts | 16 |
| for, or
regulates and requires the services
of an appraiser.
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| "Financial institution" means any bank, savings bank, | 18 |
| savings and loan
association, credit union,
mortgage broker, | 19 |
| mortgage banker, licensee under the Consumer Installment Loan
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| Act or the Sales
Finance Agency Act, or a corporate fiduciary, | 21 |
| subsidiary, affiliate, parent
company, or holding company
of | 22 |
| any such licensee, or any institution involved in real estate | 23 |
| financing that
is regulated by state or
federal law.
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| "Managing appraiser" means a certified appraiser who has | 25 |
| supervisory responsibilities for licensees in one or, in the | 26 |
| case of a multi-office company, more than one office and who |
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| has been appointed as such by the owning appraiser. | 2 |
| "Modular Course" means the Appraisal Qualifying Course | 3 |
| Design conforming to the Sub Topics Course Outline contained in | 4 |
| the AQB Criteria 2008.
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| "Real estate" means an identified parcel or tract of land, | 6 |
| including any
improvements.
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| "Real estate related financial transaction" means any | 8 |
| transaction involving:
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| (1) the sale, lease, purchase, investment in, or | 10 |
| exchange of real
property,
including interests
in property | 11 |
| or the financing thereof;
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| (2) the refinancing of real property or interests in | 13 |
| real property; and
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| (3) the use of real property or interest in property as | 15 |
| security for a
loan or
investment,
including mortgage | 16 |
| backed securities.
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| "Real property" means the interests, benefits, and rights | 18 |
| inherent in the
ownership of real estate.
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| "Secretary" means the Secretary of Financial and | 20 |
| Professional Regulation.
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| "State certified general real estate
appraiser" means an | 22 |
| appraiser who holds a
license of this classification under this | 23 |
| Act
and such classification applies to
the appraisal of all | 24 |
| types of real property without restrictions as to
the scope of | 25 |
| practice.
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| "State certified residential real estate
appraiser" means |
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| an appraiser who
holds a
license of this classification
under | 2 |
| this Act
and such classification applies to
the appraisal of
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| one to 4 units of
residential real property without regard to | 4 |
| transaction value or complexity,
but with restrictions as to | 5 |
| the
scope of practice
in a federally related transaction in | 6 |
| accordance with Title
XI, the provisions of USPAP,
criteria | 7 |
| established by the AQB, and further defined by rule.
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| "Supervising appraiser" means either (i) an appraiser who | 9 |
| holds a valid license under this Act as either a State | 10 |
| certified general real estate appraiser or a State certified | 11 |
| residential real estate appraiser, who co-signs an appraisal | 12 |
| report for an associate real estate trainee appraiser or (ii) a | 13 |
| State certified general real estate appraiser who holds a valid | 14 |
| license under this Act who co-signs an appraisal report for a | 15 |
| State certified residential real estate appraiser on | 16 |
| properties other than one to 4 units of residential real | 17 |
| property without regard to transaction value or complexity.
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| "Title XI" means Title XI of the federal Financial | 19 |
| Institutions Reform,
Recovery and
Enforcement Act of 1989.
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| "Turnaround time" or "turn time" means the period from when | 21 |
| an appraisal assignment is accepted by an appraiser or | 22 |
| appraisal company until it is received by the vendor management | 23 |
| company. | 24 |
| "USPAP" means the Uniform Standards of Professional | 25 |
| Appraisal Practice as
promulgated by the
Appraisal Standards | 26 |
| Board pursuant to Title XI and by rule.
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| "Valuation services" means services pertaining to aspects | 2 |
| of property value. | 3 |
| (Source: P.A. 96-844, eff. 12-23-09.)
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| (225 ILCS 458/5-5)
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| (Section scheduled to be repealed on January 1, 2012)
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| Sec. 5-5. Necessity of license; use of title; exemptions.
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| (a) It
is unlawful for a person to (i) act, offer services, | 8 |
| or advertise services
as a State certified general real estate
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| appraiser, State certified residential real estate appraiser, | 10 |
| or associate real estate trainee appraiser, (ii)
develop a real | 11 |
| estate appraisal,
(iii)
practice as a real estate
appraiser, | 12 |
| (iv)
advertise or hold himself or herself out to be a real | 13 |
| estate
appraiser, or (v) solicit clients or enter into an | 14 |
| appraisal engagement with clients
without a license issued | 15 |
| under this Act. A person who
violates this subsection is
guilty | 16 |
| of a Class A misdemeanor for a first offense and a Class 4 | 17 |
| felony for any subsequent offense.
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| (b) It
is unlawful for a person, other than a
person who | 19 |
| holds a valid license issued pursuant to this
Act as a State | 20 |
| certified general real estate appraiser, a
State
certified
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| residential real estate appraiser,
or an associate real estate | 22 |
| trainee appraiser to use these titles or any other title, | 23 |
| designation, or
abbreviation likely to create the
impression | 24 |
| that the person is licensed as a real estate appraiser pursuant | 25 |
| to
this Act. A person who
violates this subsection is guilty of |
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| a Class A misdemeanor for a first offense and a Class 4 felony | 2 |
| for any subsequent offense.
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| (b-1) It is unlawful for any person, corporation, limited | 4 |
| liability company, registered limited liability partnership, | 5 |
| or partnership (i) to act as an appraiser or appraisal company | 6 |
| or to advertise or assume to act as such appraiser or appraisal | 7 |
| company without a properly issued license issued under this Act | 8 |
| by the Department, either directly or through its authorized | 9 |
| designee; (ii) to develop a real estate appraisal; (iii) to | 10 |
| practice as a real estate appraiser; (iv) to advertise or hold | 11 |
| himself, herself, or itself out to be a real estate appraiser | 12 |
| or appraisal company; or (v) to solicit clients or enter into | 13 |
| an appraisal engagement with clients without a real estate | 14 |
| appraiser license or appraisal company license issued under | 15 |
| this Act. A person who violates this subsection (b-1) is guilty | 16 |
| of a Class A misdemeanor for a first offense and a Class 4 | 17 |
| felony for any subsequent offense. | 18 |
| (b-2) No corporation shall be granted a license or engage | 19 |
| in the business or capacity, either directly or indirectly, of | 20 |
| a real estate appraiser or appraisal company, unless every | 21 |
| officer of the corporation who actively participates in the | 22 |
| activities of the corporation holds a license as a certified | 23 |
| general real estate appraiser or a certified residential real | 24 |
| estate appraiser and unless every employee who acts as an | 25 |
| appraiser for the corporation holds a license as a certified | 26 |
| general real estate appraiser, a certified residential real |
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| estate appraiser, or an associate real estate appraisal | 2 |
| trainee. | 3 |
| (b-3) No partnership shall be granted a license or engage | 4 |
| in the business or serve in the capacity, either directly or | 5 |
| indirectly, of a real estate appraiser or appraisal company | 6 |
| unless every general partner in the partnership holds a license | 7 |
| as a certified general real estate appraiser or as a certified | 8 |
| residential real estate appraiser and unless every employee who | 9 |
| acts as an appraiser holds a license as a certified general | 10 |
| real estate appraiser, a certified residential appraiser, or as | 11 |
| an associate real estate appraisal trainee. | 12 |
| In the case of a registered limited liability partnership | 13 |
| (LLP), every partner in the LLP must hold a license as a | 14 |
| certified certified general real estate appraiser or as a | 15 |
| certified residential real estate appraiser and every employee | 16 |
| who acts as an appraiser must hold a license as a certified | 17 |
| general real estate appraiser, a certified residential real | 18 |
| estate appraiser, or an associate real estate appraisal | 19 |
| trainee. | 20 |
| (b-4) No limited liability company shall be granted a | 21 |
| license or engage in the business or serve in the capacity, | 22 |
| either directly or indirectly, of a real estate appraiser or | 23 |
| appraisal company unless every member, employee, and | 24 |
| independent contractor of the limited liability company who | 25 |
| acts as an appraiser holds a license as a certified residential | 26 |
| real estate appraiser or an associate real estate appraisal |
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| trainee. | 2 |
| (b-5) No person, corporation, limited liability company, | 3 |
| registered limited liability partnership, or partnership shall | 4 |
| be licensed to conduct an appraisal business if an individual | 5 |
| or group of individuals who are not licensed as certified | 6 |
| appraisers in this State directly own or indirectly control | 7 |
| more than 49% of the shares of stock or other ownership in the | 8 |
| partnership or corporation. | 9 |
| (b-6) Except as provided in this Section, each appraiser | 10 |
| shall maintain a definite office or place of business within | 11 |
| this State for the transaction of appraisal business, and shall | 12 |
| conspicuously display his or her license in his or her office | 13 |
| or place of business. An appraiser who is licensed in this | 14 |
| State pursuant to Sections 5-10, 5-15, and 5-30 of this Act | 15 |
| shall not be required to maintain a definite office or place of | 16 |
| business in this State provided all of the following conditions | 17 |
| are met: | 18 |
| (1) the appraiser maintains an active certified | 19 |
| general real estate appraiser license or a certified | 20 |
| residential real estate appraiser license in the | 21 |
| appraiser's state of domicile | 22 |
| (2) the appraiser maintains an office in the | 23 |
| appraiser's state of domicile; and | 24 |
| (3) the appraiser has filed with the Department written | 25 |
| statements appointing the Secretary to act as the | 26 |
| appraiser's agent upon whom all judicial and other process |
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| or legal notices directed to the licensee may be served and | 2 |
| agreeing to abide by all of the provisions of this Act with | 3 |
| respect to his or her appraisal activities within the State | 4 |
| of Illinois and submitting to the jurisdiction of the | 5 |
| Department. | 6 |
| (b-7) Except as provided in this Section, each appraisal | 7 |
| company shall maintain a definite office or place of business | 8 |
| within this State for the transaction of appraisal business, | 9 |
| and shall conspicuously display its license in its office or | 10 |
| place of business. An appraisal company that is licensed in | 11 |
| this State pursuant to Section 5-20.3 of this Act shall not be | 12 |
| required to maintain a definite office or place of business in | 13 |
| this State provided all of the following conditions are met: | 14 |
| (1) the appraisal company is authorized to conduct | 15 |
| business as an appraisal company in its state of domicile | 16 |
| (2) the appraisal company maintains an office in its | 17 |
| state of domicile; and | 18 |
| (3) the appraisal company has filed with the Department | 19 |
| written statements appointing the Secretary to act as the | 20 |
| appraisal company's agent upon whom all judicial and other | 21 |
| process or legal notices directed to the licensee may be | 22 |
| served and agreeing to abide by all of the provisions of | 23 |
| this Act with respect to its appraisal activities within | 24 |
| the State of Illinois and submitting to the jurisdiction of | 25 |
| the Department. | 26 |
| (b-8) Upon the loss of a managing appraiser who is not |
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| replaced or in the event of the death or adjudicated disability | 2 |
| of the sole proprietor of an office, a written request for | 3 |
| authorization allowing the continued operation of the office | 4 |
| may be submitted to the Department within 15 days after the | 5 |
| loss. The Department may issue a written authorization allowing | 6 |
| the continued operation, provided that a certified appraiser, | 7 |
| or in the case of the death or adjudicated disability of a sole | 8 |
| proprietor, the representative of the estate assumes | 9 |
| responsibility, in writing, for the operation of the office and | 10 |
| agrees to personally supervise the operation of the office. No | 11 |
| such written authorization shall be valid for more than 60 days | 12 |
| unless extended by the Department for good cause shown and upon | 13 |
| written request by the appraiser or representative. | 14 |
| (c)
The licensing requirements of this Act
do not
require a | 15 |
| person who holds a
valid license pursuant to the Real Estate | 16 |
| License Act of 2000, to be licensed
as a real estate appraiser
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| under this Act,
unless that person is
providing
or attempting | 18 |
| to provide an appraisal report, as defined in Section
1-10 of | 19 |
| this Act, in connection with a federally-related transaction. | 20 |
| Nothing in this Act shall prohibit a person who holds a valid | 21 |
| license under the Real Estate License Act of 2000 from | 22 |
| performing a comparative market analysis or broker price | 23 |
| opinion for compensation, provided that the person does not | 24 |
| hold himself out as being a licensed real estate appraiser. | 25 |
| (d) Nothing in this Act shall preclude a State certified | 26 |
| general real estate appraiser, a State certified residential |
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| real estate appraiser, or an associate real estate trainee | 2 |
| appraiser from rendering appraisals for or on behalf of a | 3 |
| partnership, association, corporation, firm, or group. | 4 |
| However, no State appraisal license or certification shall be | 5 |
| issued under this Act to a partnership, association, | 6 |
| corporation, firm, or group.
| 7 |
| (e) This Act does not apply to a county assessor, township | 8 |
| assessor, multi-township assessor, county supervisor of | 9 |
| assessments, or any deputy or employee of any county assessor, | 10 |
| township assessor, multi-township assessor, or county | 11 |
| supervisor of assessments who is performing his or her | 12 |
| respective duties in accordance with the provisions of the | 13 |
| Property Tax Code.
| 14 |
| (f) A State real estate appraisal certification or license | 15 |
| is not required under this Act for any of the following: | 16 |
| (1) A person, partnership, association, or corporation | 17 |
| that performs appraisals of property owned by that person, | 18 |
| partnership, association, or corporation for the sole use | 19 |
| of that person, partnership, association, or corporation. | 20 |
| (2) A court-appointed commissioner who conducts an | 21 |
| appraisal pursuant to a judicially ordered evaluation of | 22 |
| property. | 23 |
| However, any person who is certified or licensed under this Act | 24 |
| and who performs any of the activities set forth in this | 25 |
| subsection (f) must comply with the provisions of this Act. A | 26 |
| person who violates this subsection (f) is guilty of a Class A |
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| misdemeanor for a first offense and a Class 4 felony for any | 2 |
| subsequent offense. | 3 |
| (g) This Act does not apply to an employee, officer, | 4 |
| director, or member of a credit or loan committee of a | 5 |
| financial institution or any other person engaged by a | 6 |
| financial institution when performing an evaluation of real | 7 |
| property for the sole use of the financial institution in a | 8 |
| transaction for which the financial institution would not be | 9 |
| required to use the services of a State licensed or State | 10 |
| certified appraiser pursuant to federal regulations adopted | 11 |
| under Title XI of the federal Financial Institutions Reform, | 12 |
| Recovery, and Enforcement Act of 1989, nor does this Act apply | 13 |
| to the procurement of an automated valuation model. | 14 |
| "Automated valuation model" means an automated system that | 15 |
| is used to derive a property value through the use of publicly | 16 |
| available property records and various analytic methodologies | 17 |
| such as comparable sales prices, home characteristics, and | 18 |
| historical home price appreciations.
| 19 |
| (h) This Act does not apply to a corporate relocation | 20 |
| company whereby the appraisal is not used for mortgage purposes | 21 |
| and the end user client is an employer company. | 22 |
| (i) This Section shall not be applicable to appraisers or | 23 |
| appraisal companies that contract with independent appraisers | 24 |
| for the performance of fewer than 10 appraisals in this State | 25 |
| in a calendar year. | 26 |
| (Source: P.A. 96-844, eff. 12-23-09.)
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| (225 ILCS 458/5-20.3 new) | 2 |
| (Section scheduled to be repealed on January 1, 2012) | 3 |
| Sec. 5-20.3. Licensure of appraisal company. The | 4 |
| Department of Financial and Professional Regulation shall | 5 |
| adopt by rule standards for the licensure of appraisal | 6 |
| companies designed to protect the public interest and to ensure | 7 |
| compliance with this Act. The Department shall specify any | 8 |
| qualifications, including education or training, necessary for | 9 |
| licensure. The fee for licensure as an appraisal company | 10 |
| license shall not exceed $50.
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| (225 ILCS 458/10-10)
| 12 |
| (Section scheduled to be repealed on January 1, 2012)
| 13 |
| Sec. 10-10. Standards of practice. All persons licensed | 14 |
| under this Act
as certified general real estate appraisers, | 15 |
| certified residential real estate appraisers, or associate | 16 |
| real estate appraisal trainees must comply with standards
of | 17 |
| professional appraisal practice adopted by the Department. The | 18 |
| Department
must adopt, as part
of
its rules, the Uniform
| 19 |
| Standards of Professional Appraisal Practice (USPAP) as | 20 |
| published from time to time by
the Appraisal Standards
Board of | 21 |
| the Appraisal Foundation. The Department
shall consider | 22 |
| federal laws and
regulations regarding the
licensure of real | 23 |
| estate appraisers prior to adopting its rules for the
| 24 |
| administration of this Act. An appraisal company shall not |
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| request that an appraiser in any way violate the standards of | 2 |
| USPAP. An appraisal company shall not redact or otherwise | 3 |
| obscure compensation related disclosures contained within the | 4 |
| body of an appraisal report.
| 5 |
| (Source: P.A. 96-844, eff. 12-23-09.)
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| (225 ILCS 458/15-5)
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| (Section scheduled to be repealed on January 1, 2012)
| 8 |
| Sec. 15-5. Unlicensed practice; civil penalty; injunctive | 9 |
| relief; unlawful influence.
| 10 |
| (a) A person who violates Section 5-5 of this Act
shall, in | 11 |
| addition to any other penalty provided by law, pay a civil | 12 |
| penalty
to the Department
in an amount not
to exceed $25,000
| 13 |
| for each violation as determined by the Secretary. The
civil | 14 |
| penalty shall
be assessed by the Secretary
after a hearing in | 15 |
| accordance with the provisions of this Act regarding the | 16 |
| provision of a hearing for the discipline of a license.
| 17 |
| (b) The Department
has the authority to investigate any | 18 |
| activity that may violate
this Act.
| 19 |
| (c) A civil penalty imposed pursuant to subsection (a) | 20 |
| shall be paid within
60 days after the effective date
of the | 21 |
| order imposing the
civil penalty. The order shall constitute a | 22 |
| judgment and may be filed and executed in the same manner as | 23 |
| any judgment from any court of record.
Any civil penalty | 24 |
| collected under this Act shall be made payable to the | 25 |
| Department of Financial and Professional Regulation
and
|
|
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| 1 |
| deposited into the Appraisal Administration Fund. In addition | 2 |
| to or in lieu of
the imposition of a civil
penalty, the | 3 |
| Department
may report a violation of this Act or the failure or | 4 |
| refusal to
comply with an order of the Department
to the | 5 |
| Attorney General or to the appropriate State's Attorney.
| 6 |
| (d) Practicing as an appraiser without holding a valid | 7 |
| license as required
under this Act
is declared
to be adverse to | 8 |
| the public welfare, to constitute a public nuisance, and to
| 9 |
| cause irreparable harm to the
public welfare. The Secretary, | 10 |
| the Attorney General, or the State's
Attorney
of any county in | 11 |
| the State
may maintain an action for injunctive relief in any | 12 |
| circuit court to enjoin any
person from
engaging in such | 13 |
| practice.
| 14 |
| Upon the filing of a verified petition in a circuit court, | 15 |
| the court, if
satisfied by affidavit or otherwise that
a person | 16 |
| has been engaged in the practice of real estate appraisal | 17 |
| without a
valid license,
may enter a temporary restraining | 18 |
| order without notice or bond
enjoining the defendant
from | 19 |
| further practice. The showing of non-licensure, by affidavit or
| 20 |
| otherwise, is sufficient
for the issuance of a temporary | 21 |
| injunction.
If it is established that the defendant has been or | 22 |
| is engaged
in unlawful practice, the court
may enter an order | 23 |
| or judgment perpetually enjoining the defendant from further
| 24 |
| unlawful practice. In all
proceedings under this Section, the | 25 |
| court, in its discretion, may apportion the
costs among the | 26 |
| parties interested
in the action, including the cost of filing |
|
|
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| 1 |
| the complaint, service of process,
witness fees and expenses, | 2 |
| court
reporter charges, and reasonable attorneys' fees.
These | 3 |
| injunction proceedings shall be in addition to, and not in lieu | 4 |
| of, all
penalties and other remedies
provided in this Act.
| 5 |
| (e) No person shall influence or attempt to influence | 6 |
| through coercion, extortion, or bribery the independent | 7 |
| judgment of an appraiser licensed or certified under this Act | 8 |
| in the development, reporting, result, or review of a real | 9 |
| estate appraisal. A person who violates this subsection (e) is | 10 |
| guilty of a Class A misdemeanor for the first offense and a | 11 |
| Class 4 felony for any subsequent offense.
| 12 |
| (f) It shall be unlawful for any employee, director, | 13 |
| officer, or agent of an appraisal company licensed in this | 14 |
| State to influence or attempt to influence the development, | 15 |
| reporting, or review of an appraisal through coercion, | 16 |
| extortion, collusion, compensation, instruction, inducement, | 17 |
| intimidation, bribery, or in any other manner, including, but | 18 |
| not limited to, the following: | 19 |
| (1) withholding or threatening to withhold timely | 20 |
| payment for an appraisal; | 21 |
| (2) withholding or threatening to withhold future | 22 |
| business for an independent appraiser, or demoting or | 23 |
| terminating or threatening to demote or terminate an | 24 |
| independent appraiser; | 25 |
| (3) imposing turnaround time monetary penalties that | 26 |
| are not specified at the time of engagement; |
|
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| (4) requiring an appraiser to submit a notice of | 2 |
| absence when not an employee of the entity; | 3 |
| (5) requiring an appraiser to sign a non-compete clause | 4 |
| when not an employee of the entity; | 5 |
| (6) requesting the payment of compensation to achieve | 6 |
| higher priority in the assignment of appraisal business; | 7 |
| (7) requiring an appraiser to pay or otherwise | 8 |
| compensate the appraisal company for fees to upload or | 9 |
| otherwise deliver an appraisal report, fees for a report | 10 |
| transmitted after a due date, or fees for reviewing the | 11 |
| report; | 12 |
| (8) requiring an appraiser or appraisal company to sign | 13 |
| any sort of indemnification agreement that would require | 14 |
| the appraiser to defend and hold harmless the appraisal | 15 |
| company, any software provider that an appraisal company | 16 |
| requires an appraiser to use, or any other entity that the | 17 |
| appraisal company does business with, from any liability, | 18 |
| damage, loss, or claim that does not arise as a result of | 19 |
| the appraiser's performance of the appraisal assignment; | 20 |
| and | 21 |
| (9) requiring an appraiser who is not an employee of | 22 |
| the appraisal company to collect the appraisal fee from the | 23 |
| borrower, occupant, or any other person. | 24 |
| (g) It shall be unlawful for any licensed appraiser or | 25 |
| appraisal company to alter, modify, or otherwise change a | 26 |
| completed appraisal report submitted by an independent |
|
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| appraiser, including, without limitation, by doing any of the | 2 |
| following: | 3 |
| (1) permanently removing the appraiser's signature or | 4 |
| seal; | 5 |
| (2) adding information to, or removing information | 6 |
| from, the appraisal report with an intent to change the | 7 |
| value conclusion; | 8 |
| (3) expressly or impliedly promising future business, | 9 |
| promotions, or increased compensation for an independent | 10 |
| appraiser; | 11 |
| (4) conditioning the request for an appraisal service | 12 |
| or the payment of an appraisal fee or salary or bonus on | 13 |
| the opinion, conclusion, or valuation to be reached, or on | 14 |
| a preliminary estimate or opinion requested from an | 15 |
| independent appraiser; | 16 |
| (5) requesting that an independent appraiser provide | 17 |
| an estimated, predetermined, or desired valuation in an | 18 |
| appraisal report, or provide estimated values or | 19 |
| comparable sales at any time prior to the independent | 20 |
| appraiser's completion of an appraisal service; | 21 |
| (6) providing to an independent appraiser an | 22 |
| anticipated, estimated, encouraged, or desired value for a | 23 |
| subject property or a proposed or target amount to be | 24 |
| loaned to the borrower, except that a copy of the sales | 25 |
| contract for purchase transactions may be provided; | 26 |
| (7) providing to an independent appraiser, or any |
|
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| entity or person related to the appraiser, stock or other | 2 |
| financial or non-financial benefits; | 3 |
| (8) allowing the removal of an independent appraiser | 4 |
| from an appraiser panel, without prior written notice to | 5 |
| such appraiser; | 6 |
| (9) obtaining, using, or paying for a second or | 7 |
| subsequent appraisal or ordering an automated valuation | 8 |
| model in connection with a mortgage financing transaction | 9 |
| unless there is a reasonable basis to believe that the | 10 |
| initial appraisal was flawed or tainted and such basis is | 11 |
| clearly and appropriately noted in the loan file, or unless | 12 |
| such appraisal or automated valuation model is done | 13 |
| pursuant to a bona fide pre- or post-funding appraisal | 14 |
| review or quality control process; or | 15 |
| (10) any other act or practice that impairs or attempts | 16 |
| to impair an appraiser's independence, objectivity, or | 17 |
| impartiality. | 18 |
| (Source: P.A. 96-844, eff. 12-23-09.)
| 19 |
| (225 ILCS 458/15-15)
| 20 |
| (Section scheduled to be repealed on January 1, 2012)
| 21 |
| Sec. 15-15. Investigation; notice; hearing.
| 22 |
| (a) Upon the motion of the Department
or the Board or
upon | 23 |
| a complaint in
writing of a person setting forth facts that, if | 24 |
| proven, would constitute
grounds for suspension, revocation,
| 25 |
| or other disciplinary action against a licensee or applicant |
|
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| for licensure, the Department or the Board
shall investigate | 2 |
| the actions of the licensee or applicant. If, upon | 3 |
| investigation, the Department believes that there may be cause | 4 |
| for suspension, revocation, or other disciplinary action, the | 5 |
| Department shall use the services of a State certified general | 6 |
| real estate appraiser, a State certified residential real | 7 |
| estate appraiser, or the Real Estate Coordinator to assist in | 8 |
| determining whether grounds for disciplinary action exist | 9 |
| prior to commencing formal disciplinary proceedings.
| 10 |
| (b) Formal disciplinary proceedings shall commence upon | 11 |
| the issuance of a
written complaint
describing the charges that | 12 |
| are the basis of the disciplinary action and
delivery of the | 13 |
| detailed complaint to the address of
record of the licensee or | 14 |
| applicant. The Department
shall notify the licensee or
| 15 |
| applicant
to file a verified written
answer within 20 days | 16 |
| after the service of the notice and complaint.
The
notification | 17 |
| shall inform the licensee or applicant of his or her
right to | 18 |
| be heard in person or by
legal counsel; that the hearing will | 19 |
| be afforded not sooner than 30 days after
service
of the | 20 |
| complaint; that failure to file an answer will result in a | 21 |
| default being
entered against the licensee or applicant;
that | 22 |
| the license may be suspended, revoked, or placed on
| 23 |
| probationary status; and that other
disciplinary action may be | 24 |
| taken pursuant to this Act, including limiting the
scope, | 25 |
| nature, or extent of the licensee's
practice. If the licensee | 26 |
| or applicant fails to file an answer after service of
notice, |
|
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| his or her license may,
at the discretion of the Department, be | 2 |
| suspended,
revoked, or placed on probationary
status and the | 3 |
| Department
may take whatever disciplinary
action it deems | 4 |
| proper,
including limiting the scope, nature, or extent of the | 5 |
| person's practice,
without a hearing.
| 6 |
| (c) At the time and place fixed in the notice, the Board | 7 |
| shall conduct
hearing of the charges, providing
both the | 8 |
| accused person and the complainant ample opportunity to present | 9 |
| in
person
or by counsel such statements, testimony, evidence, | 10 |
| and argument as may be
pertinent to the charges or
to a defense | 11 |
| thereto.
| 12 |
| (d) The Board shall present to the Secretary
a written | 13 |
| report of its
findings and
recommendations. A copy of the | 14 |
| report shall be served upon the licensee or
applicant,
either | 15 |
| personally or by certified
mail. Within 20 days after the | 16 |
| service, the licensee or applicant may present
the Secretary
| 17 |
| with a motion in writing
for either a rehearing, a proposed | 18 |
| finding of fact, a conclusion of law, or an
alternative | 19 |
| sanction, and shall
specify the particular grounds for the | 20 |
| request. If the accused orders a
transcript of the record
as | 21 |
| provided in this Act, the time elapsing thereafter and before | 22 |
| the transcript
is ready for delivery to the
accused shall not | 23 |
| be counted as part of the 20 days. If the Secretary
is
not | 24 |
| satisfied that
substantial justice has been done, the Secretary
| 25 |
| may order a rehearing by
the Board or other
special committee | 26 |
| appointed by the Secretary, may remand the matter to the
Board |
|
|
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| 1 |
| for its
reconsideration of the matter based on the pleadings | 2 |
| and evidence presented to
the Board, or may enter
a final order | 3 |
| in contravention of the Board's recommendation. In all
| 4 |
| instances under this Act in which
the Board has rendered a | 5 |
| recommendation to the Secretary
with respect to a
particular | 6 |
| licensee or
applicant, the Secretary, if he or she disagrees | 7 |
| with
the recommendation of the Board, shall file with the Board | 8 |
| and provide to the
licensee or applicant a copy of the | 9 |
| Secretary's
specific written reasons for
disagreement with the | 10 |
| Board. The reasons shall be filed within 60 days of the
Board's | 11 |
| recommendation
to the Secretary
and prior to any contrary | 12 |
| action. Notwithstanding a licensee's or applicant's failure to | 13 |
| file a motion for rehearing, the Secretary
shall have the right | 14 |
| to take any of
the actions specified in this
subsection (d). | 15 |
| Upon the suspension or revocation of a license, the licensee
| 16 |
| shall
be required to surrender his
or her license to the | 17 |
| Department, and upon failure or refusal to do so, the | 18 |
| Department
shall have
the right to seize the
license.
| 19 |
| (e) The Department
has the power to issue subpoenas and
| 20 |
| subpoenas duces tecum
to bring before it any person in this | 21 |
| State, to take testimony, or to require
production of any | 22 |
| records
relevant to an inquiry or hearing by the Board in the | 23 |
| same manner as prescribed
by law in judicial
proceedings in the | 24 |
| courts of this State. In a case of refusal of a witness to
| 25 |
| attend, testify, or to produce
books or papers concerning a | 26 |
| matter upon which he or she might be lawfully
examined, the |
|
|
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| 1 |
| circuit court
of the county where the hearing is held, upon | 2 |
| application of the Department
or any
party to the proceeding, | 3 |
| may compel obedience by proceedings as for contempt.
| 4 |
| (f) Any license that is suspended indefinitely or revoked | 5 |
| may not be
restored for a minimum period
of 2 years, or as | 6 |
| otherwise ordered by the Secretary.
| 7 |
| (g) In addition to the provisions of this Section | 8 |
| concerning the conduct of
hearings and the
recommendations for | 9 |
| discipline, the Department
has the authority to negotiate
| 10 |
| disciplinary and non-disciplinary
settlement agreements | 11 |
| concerning any license issued under this Act. All such
| 12 |
| agreements shall be
recorded as Consent Orders or Consent to | 13 |
| Administrative Supervision Orders.
| 14 |
| (h) The Secretary
shall have the authority to appoint an | 15 |
| attorney duly
licensed to practice law in the
State of Illinois | 16 |
| to serve as the hearing officer in any action to suspend,
| 17 |
| revoke, or otherwise discipline
any license issued by the | 18 |
| Department. The Hearing Officer
shall have full authority
to | 19 |
| conduct the hearing.
| 20 |
| (i) The Department, at its expense, shall preserve a record | 21 |
| of all formal hearings of
any contested case involving
the | 22 |
| discipline of a license. At all hearings or pre-hearing | 23 |
| conferences, the Department
and the licensee shall be
entitled | 24 |
| to have the proceedings transcribed by a certified shorthand | 25 |
| reporter.
A copy of the transcribed
proceedings shall be made | 26 |
| available to the licensee by the certified shorthand
reporter |
|
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| 1 |
| upon payment of
the prevailing contract copy rate.
| 2 |
| (Source: P.A. 96-844, eff. 12-23-09.)
| 3 |
| (225 ILCS 458/25-10)
| 4 |
| (Section scheduled to be repealed on January 1, 2012)
| 5 |
| Sec. 25-10. Real Estate Appraisal Administration and | 6 |
| Disciplinary Board; appointment.
| 7 |
| (a) There is hereby created the Real Estate Appraisal | 8 |
| Administration and Disciplinary Board. The Board
shall be | 9 |
| composed of 11 10 persons appointed by the Governor, plus the | 10 |
| Coordinator
of
the Real Estate Appraisal Division. Members | 11 |
| shall be appointed to the Board
subject to the following | 12 |
| conditions:
| 13 |
| (1) All appointed members shall have been residents and | 14 |
| citizens of this
State for
at least 5 years prior
to the | 15 |
| date of appointment.
| 16 |
| (2) The appointed membership of the Board should | 17 |
| reasonably reflect the
geographic
distribution of the
| 18 |
| population of the State.
| 19 |
| (3) Four appointed members shall have been actively | 20 |
| engaged and currently
licensed as
State
certified general | 21 |
| real estate appraisers for a period of not less than 5
| 22 |
| years.
| 23 |
| (4)
Two appointed members shall have been actively | 24 |
| engaged and currently
licensed as
State
certified | 25 |
| residential real estate appraisers for a period of
not less |
|
|
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|
| 1 |
| than 5 years.
| 2 |
| (5)
Two appointed members shall hold a valid license as | 3 |
| a
real estate
broker for at least 10 years prior to the | 4 |
| date of the appointment, one of whom
shall hold a valid
| 5 |
| State certified general real estate appraiser license | 6 |
| issued under this Act or a predecessor Act for a period of | 7 |
| at
least 5 years prior to the appointment and one of whom | 8 |
| shall hold a valid State certified residential real estate | 9 |
| appraiser license issued under this Act or a predecessor | 10 |
| Act for a period of at
least 5 years prior to the | 11 |
| appointment.
| 12 |
| (6) One appointed member shall be a representative of a | 13 |
| financial
institution, as evidenced by his or her | 14 |
| employment with a financial
institution.
| 15 |
| (7) One appointed member shall represent the interests | 16 |
| of the general
public. This member or his or her spouse | 17 |
| shall not be licensed under this Act
nor be employed by or | 18 |
| have any interest in an appraisal business, real estate
| 19 |
| brokerage business, or a financial institution. | 20 |
| (8) One appointed member shall be a representative of | 21 |
| an appraisal management company, as evidenced by his or her | 22 |
| being an officer or employee of an appraisal management | 23 |
| company which employs or contracts with, in the aggregate, | 24 |
| at least 10 licensed appraisers.
| 25 |
| In making appointments as
provided in paragraphs (3) and | 26 |
| (4) of this subsection, the Governor shall
give due |
|
|
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| 1 |
| consideration to recommendations by members and organizations
| 2 |
| representing the profession.
| 3 |
| In making the appointments as
provided in paragraph (5) of | 4 |
| this subsection, the Governor shall give
due consideration to | 5 |
| the recommendations by members and organizations
representing | 6 |
| the real estate industry.
| 7 |
| In making the appointment as provided
in paragraph (6) of | 8 |
| this subsection, the Governor
shall give due consideration to | 9 |
| the recommendations by members and
organizations representing | 10 |
| financial institutions.
| 11 |
| (b) The term for members of the Board shall be 4 years, and | 12 |
| each member shall serve until his or her successor is appointed | 13 |
| and qualified. No member shall serve more than 10 years in a | 14 |
| lifetime.
| 15 |
| (c) The Governor may terminate the appointment of a member | 16 |
| for cause that,
in
the opinion of the Governor, reasonably | 17 |
| justifies the termination. Cause for
termination may include, | 18 |
| without limitation, misconduct, incapacity, neglect of
duty, | 19 |
| or missing 4 Board meetings during any one calendar year.
| 20 |
| (d) A majority of the Board members shall constitute a
| 21 |
| quorum. A vacancy in the membership of the Board shall not | 22 |
| impair the right of
a quorum to exercise all of the rights and | 23 |
| perform all of the duties of the
Board.
| 24 |
| (e) The Board shall meet at least quarterly and may be | 25 |
| convened
by the Chairperson, Vice-Chairperson, or 3 members of | 26 |
| the Board upon 10 days
written notice.
|
|
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| 1 |
| (f) The Board shall, annually at the first meeting of the | 2 |
| fiscal year,
elect a Chairperson and Vice-Chairperson from its
| 3 |
| members. The Chairperson shall preside over the meetings and | 4 |
| shall coordinate
with the Coordinator
in developing and | 5 |
| distributing an agenda for each meeting. In the absence of
the | 6 |
| Chairperson, the Vice-Chairperson shall preside over the | 7 |
| meeting.
| 8 |
| (g) The Coordinator
of the Real Estate Appraisal Division | 9 |
| shall serve as
a member of the Board without vote.
| 10 |
| (h) The Board shall advise and make recommendations to
the | 11 |
| Department
on the education and experience qualifications of | 12 |
| any applicant for initial licensure as a State certified | 13 |
| general real estate appraiser or a State certified residential | 14 |
| real estate appraiser. The Department shall not make any | 15 |
| decisions concerning education or experience qualifications of | 16 |
| an applicant for initial licensure as a State certified general | 17 |
| real estate appraiser or a State certified residential real | 18 |
| estate appraiser without having first received the advice and | 19 |
| recommendation of the Board and
shall give due consideration to | 20 |
| all
such advice and recommendations; however, if the Board does | 21 |
| not render advice or make a recommendation within a reasonable | 22 |
| amount of time, then the Department may render a decision.
| 23 |
| (h-5) The Board shall issue educational findings, as it | 24 |
| deems appropriate. | 25 |
| (i) Except as provided in Section 15-17 of this Act, the
| 26 |
| Board shall hear and make recommendations to the
Secretary
on
|
|
|
|
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| 1 |
| disciplinary matters
that require a formal evidentiary | 2 |
| hearing. The Secretary
shall give due
consideration to the
| 3 |
| recommendations of the Board involving discipline and | 4 |
| questions involving
standards of professional
conduct of | 5 |
| licensees.
| 6 |
| (j) The Department shall seek and the Board shall provide
| 7 |
| recommendations to the Department
consistent with the
| 8 |
| provisions
of this Act and for the administration and | 9 |
| enforcement of all
rules adopted
pursuant to this Act. The | 10 |
| Department
shall give due consideration to
such
| 11 |
| recommendations
prior to adopting rules.
| 12 |
| (k) The Department shall seek and the Board shall provide
| 13 |
| recommendations to the Department
on the approval of all | 14 |
| courses
submitted to the Department
pursuant to this Act and | 15 |
| the rules adopted pursuant to this Act. The Department shall | 16 |
| not approve any courses without having first received the | 17 |
| recommendation of the Board and
shall
give due consideration to | 18 |
| such
recommendations
prior to approving and licensing courses; | 19 |
| however, if the Board does not make a recommendation within a | 20 |
| reasonable amount of time, then the Department may approve | 21 |
| courses.
| 22 |
| (l) Each voting member of the Board shall receive a per | 23 |
| diem stipend in an
amount
to be determined by the Secretary. | 24 |
| Each member shall be paid his or her necessary expenses while
| 25 |
| engaged in the
performance of his or her duties.
| 26 |
| (m) Members of the Board shall be immune from suit in an |
|
|
|
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| 1 |
| action based upon
any disciplinary
proceedings or other acts | 2 |
| performed in good faith as members of the Board.
| 3 |
| (n) If the Department disagrees with any advice or | 4 |
| recommendation provided by the Board under this Section to the | 5 |
| Secretary or the Department, then notice of such disagreement | 6 |
| must be provided to the Board by the Department.
| 7 |
| (o) Upon resolution adopted at any Board meeting, the | 8 |
| exercise of any Board function, power, or duty enumerated in | 9 |
| this Section or in subsection (d) of Section 15-10 of this Act | 10 |
| may be suspended. The exercise of any suspended function, | 11 |
| power, or duty of the Board may be reinstated by a resolution | 12 |
| adopted at a subsequent Board meeting. Any resolution adopted | 13 |
| pursuant to this Section shall take effect immediately.
| 14 |
| (Source: P.A. 96-844, eff. 12-23-09.)".
|
|