Effective 28 Aug 2012

339.509. Commission, powers and duties. — The commission shall have the following powers and duties:

(1) To establish educational programs and research projects related to the appraisal of real estate;

(2) To establish administrative procedures for processing applications and issuing trainee licenses, certificates of state-certified real estate appraisers, licenses of state-licensed real estate appraisers, and licenses of appraisal management companies, and for conducting disciplinary proceedings pursuant to the provisions of sections 339.500 to 339.549 or as required by federal law or regulation; and shall have authority to determine who meets the criteria for certification and licensure, and shall have authority to renew, censure, suspend or revoke certifications and licenses;

(3) To further define by regulation, with respect to each category of trainee, state-certified real estate appraiser, and for state-licensed real estate appraisers and for appraisal management companies, the type of educational experience, appraisal experience and equivalent experience, and other criteria that will meet the statutory requirements of sections 339.500 to 339.549 or as required by federal law or regulation; provided that such standards shall be equivalent to the minimum criteria for certification and licensure issued by the appraiser qualifications board of the appraisal foundation and the provisions of section 339.517 or as required by federal law or regulation;

(4) To further define by regulation, with respect to each category of trainee, state-certified real estate appraiser, and for state-licensed real estate appraisers, the continuing education requirements for the renewal of certification and licensure that will meet the statutory requirements provided in section 339.530 or as required by federal law or regulation;

(5) To adopt standards for the development and communication of real estate appraisals and to adopt regulations explaining and interpreting the standards; provided that such standards shall meet the standards specified by the appraisal standards board of the appraisal foundation or as required by federal law or regulation;

(6) To establish an examination for each category of state-certified real estate appraiser, and for state-licensed real estate appraisers, to provide or procure appropriate examination questions and answers, and to establish procedures for grading examinations; provided that such standards for examinations for certification shall meet the minimum criteria specified by the appraiser qualifications board of the appraisal foundation or as required by federal law or regulation;

(7) To maintain a registry of the names and addresses of trainees, state-certified real estate appraisers, state-licensed real estate appraisers, and appraisal management companies;

(8) To perform such other functions and duties as may be necessary to carry out the provisions of sections 339.500 to 339.549 or to comply with the requirements of federal law or regulation; and

(9) To establish by rule the standards of practice for appraisal management companies.

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(L. 1990 H.B. 1456 § 6, A.L. 1998 H.B. 1601, et al., A.L. 2012 H.B. 1103)