H3278: Real estate appraisers

Legislative Summary

Amend The South Carolina Code Of Laws By Amending Section 40-60-10, Relating To The South Carolina Real Estate Appraisers Board, So As To Modify The Composition Of The Board; By Amending Section 40-60-20, Relating To Definitions, So As To Add Definitions And Modify Existing Definitions; By Amending Sections 40-60-30, 40-60-31, And 40-60-33, All Relating To Real Estate Appraiser Licensure Requirements, So As To Modify Exemptions, Revise, And Provide Education Requirements And Acceptable Equivalencies For Apprentice Appraisers, And To Revise Requirements And Qualifications For Licensed Mass Appraisers; By Amending Section 40-60-34, Relating To Requirements Relating To Apprentice Appraisers And Appraiser Supervising Apprentices, So As To Revise Requirements; By Amending Section 40-60-35, Relating To Continuing Education Requirements, So As To Impose Reporting Requirements Upon Licensees; By Amending Section 40-60-36, Relating To The Approval Of Courses, Educational Providers, And Instructors, So As To Impose Reporting Requirements Upon Providers; By Amending Section 40-60-37, Relating To Reciprocal Applications From Appraisers From Other Jurisdictions, So As To Make A Technical Correction; By Amending Section 40-60-40, Relating To Required Appraiser Contact Information, So As To Include Email Addresses Of Licensees; By Amending Section 40-60-50, Relating To Application And License Fees, So As To Outline Requirements For Application; By Amending Section 40-60-70, Relating To The Code Of Ethics, So As To Require Appraisers To Conduct Themselves In Accordance With A Code Of Ethics As Established In The Uniform Standards Of Professional Appraisal Practice; By Amending Section 40-60-80, Relating To Investigation Of Complaints And Violations, So As To Allow The Board To Decline To Conduct An Investigation Under Certain Circumstances; By Amending Section 40-60-110, Relating To Grounds For Denying Licensure Or Taking Disciplinary Actions, So As To Remove References To Permits And To Provide Circumstances When Disciplinary Actions May Be Taken; By Amending Section 40-60-220, Relating To The Continuation Of Existing Licenses, So As To Reference People Credentialed In This State; By Amending Section 40-60-320, Relating To Definitions, So As To Revise The Definition Of Appraisal Panel; By Amending Section 40-60-330, Relating To Registration Requirements, So As To Revise Requirements Concerning Certain Financial Information; By Amending Section 40-60-340, Relating To Exclusions From Registration Requirements, So As To Require Regulation By The Office Of Comptroller General, Among Other Things; By Amending Section 40-60-350, Relating To Renewal Of Registrations, So As To Modify The Renewal Frequency; By Amending Section 40-60-360, Relating To Promulgation Of Regulations, So As To Specify Required Regulations; By Amending Section 40-60-370, Relating To Requirements For Owners Of Appraisal Management Companies, So As To Provide Circumstances In Which An Appraisal Management Company Shall Not Be Registered In This State Or Included On The National Registry; By Amending Section 40-60-400, Relating To Certification Or Licensure Required For Employees And Independent Contractors, So As To Include References To The Uniform Standards Of Professional Appraisals Practice Standards; By Amending Section 40-60-420, Relating To Record-keeping Requirements For Registration Renewal, So As To Revise Requirements Concerning Records That Appraisal Management Companies Must Provide; And By Amending Section 40-60-450, Relating To Compensation, So As To Clarify The Applicable Governing Federal Regulations. - Ratified Title