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LOUISIANA REAL ESTATE APPRAISERS LAW
(as amended through August 2009)
All 2009 amendments are
highlighted
for viewing convenience.
R.S. 37:3391 - 3413
§3391. Short title
This Chapter shall be known and may be cited as
the "Louisiana Real Estate Appraisers Law".
Acts 1987, No. 472, §1; Acts 1995, No. 690, §2;
Acts 2001, No. 833, §2.
§3392. Definitions
As used in this Chapter, the following words
have the meaning ascribed to them in this Section unless the context clearly
indicates otherwise:
(1) "Appraisal" or "real estate appraisal"
means an analysis, opinion, or conclusion relating to the nature, quality,
value, or utility of specified interests in, or aspects of, identified real
estate, for or in expectation of compensation.
(2) "Appraisal assignment" means an engagement
for which an appraiser is employed or retained to act, or would be perceived by
third parties or the public as acting, as a disinterested third party in
rendering an unbiased analysis, opinion, or conclusion relating to the nature,
quality, value, or utility of specified interests in, or aspects of, identified
real estate. Compensation for appraisal assignments may not include any
contingency fee based on the results of the appraisal assignment.
(3) "Appraisal report" means any
communication, written or oral, of an analysis, opinion, or conclusion relating
to the nature, quality, value, or utility of specified interests in, or aspects
of, identified real estate.
(4) "Board" means the Louisiana Real Estate
Appraisers Board established pursuant to the provisions of this Chapter.
(5) "Broker price opinion/comparative market
analysis" means an analysis of recent sales of similar properties by a real
estate salesperson or broker to derive an indication of the probable sales price
of a particular property for the salesperson's or broker's principal.
(6) "Commission" means the Louisiana Real
Estate Commission.
(7) "General certified real estate appraiser"
means a person who holds a current, valid license issued to him by the board for
appraisal of all types of real estate regardless of complexity or transaction
value.
(8) "Licensee" means any person who has been
issued a license by the board to participate in any appraisal activity described
in this Chapter.
(9) "Real estate" means an identified parcel
or tract of land, including improvements, if any.
(10) "Real estate appraiser trainee" means any
person who has been issued a license by the board to appraise properties under
the supervision of a licensed general real estate appraiser or residential real
estate appraiser.
(11) "Real property" means one or more defined
interests in a parcel of real estate, whether an unencumbered fee or a lesser
estate.
(12) "Residential certified real estate
appraiser" means any person who holds a current, valid license issued by the
board to appraise one to four residential units, without regard to transaction
value or complexity, and perform appraisals of other types of real estate having
a transaction value of two hundred fifty thousand dollars or less. This
includes the appraisal of vacant or unimproved land that is utilized for one to
four family residential units.
Acts 1987, No. 472, §1; Acts 1990, No. 740,
§§1, 2; Acts 1991, No. 412, §1; Acts 1995, No. 690, §2; Acts 2001, No. 833, §2;
Acts 2001, No. 888, §1; Acts 2003, No. 341, §§1 and 3.
§3393. License
required; penalty for
unlicensed real estate appraiser activity
A. No person, other than a state licensed real
estate appraiser, shall assume or use that title or any title, designation, or
abbreviation that may create the impression of being licensed as a real estate
appraiser by this state.
B. No licensed real estate appraiser shall
assume or use any title, designation, or abbreviation that may create the
impression of being licensed in a class other than that for which his license
has been issued.
C. It shall be unlawful for any individual,
for a fee or other valuable consideration, or with the intention or expectation
of receiving or collecting a fee or valuable consideration from another, to do
any of the following unless the individual is licensed under this Chapter:
(1) Be employed to perform or perform an
appraisal as defined in this Chapter where the subject property of the
assignment lies within the borders of the state of Louisiana.
(2) Present himself, or allow himself to be
presented, as being able to perform an appraisal for which a license is required
under this Chapter.
D. All real estate appraiser licenses issued
under the provisions of this Chapter shall be issued in the individual name of
the applicant and shall not be issued to a partnership, association,
corporation, firm, or group. Nothing shall preclude a licensed real property
appraiser from performing appraisals for or on behalf of a partnership,
association, corporation, firm, or group.
E. Nothing in this Chapter shall preclude a
licensed real estate broker or salesperson from performing a broker price
opinion/comparative market analysis in the ordinary course of the practice of
real estate, provided that the broker or salesperson does not represent himself
as being a state licensed real estate appraiser.
F. It shall be unlawful for any individual,
for a fee or other valuable consideration, or with the intention or expectation
of receiving or collecting a fee or valuable consideration from another, to
perform contingent appraisals, or any form of estimated value, based on the fee
or valuable consideration pending the estimated value.
G. It shall be unlawful for any individual,
person, partnership, association, or corporation to perform any type of review
or analysis of a real property appraisal, unless that person is licensed to
perform real property appraisals.
H. The provisions of this Chapter shall not
apply to the following:
(1) A person, partnership, association, or
corporation that performs appraisals of property owned by that person,
partnership, association, or corporation.
(2) A court-appointed individual who conducts
an appraisal pursuant to a judicially ordered evaluation of the specific real
property under litigation.
(3) A director, officer, or salaried employee
of commercial banks, savings banks, credit unions, and savings and loan
associations, when engaged in appraisal or evaluation activities for and on
behalf of such financial institutions, unless there is a fee charged for the
appraisal or evaluation, provided that a federal statute, rule, or regulation
does not require such appraisal or evaluation activities to be performed by a
state licensed real estate appraiser.
(4) State, parish, or municipal public
officers or their salaried employees while performing their duties as such,
except when the intended use of the appraisal is for acquisition of real
property.
(5) A person appointed by a sheriff to make an
appraisal in accordance with R.S. 13:4364
or 4365.
(6) A person or firm contracted by
a state, parish, or municipal tax authority to perform mass appraisal
assignments.
(7) Employees of the Department of
Transportation and Development; however, the provisions of this Chapter shall
apply to such employees after June 30, 2010.
(8) A certified public accountant when engaged
by a client to perform a business valuation under both of the following
conditions:
(a) The valuation of real property must rely
on an appraisal report performed by a licensed appraiser.
(b) Such public accountant is licensed
pursuant to the Louisiana Accountancy Act.
I. In addition to any other
civil remedy or civil penalty provided in this Chapter, the board may
issue a subpoena to any person based on the probable cause that he has
engaged in real estate appraiser activity without a license. Subpoenas
issued by the board shall:
(1) Comply with the notice requirements of R.S. 49:955.
(2) Be personally served upon the person named therein or by any type
of mailing that requires a return receipt.
(3) Include a statement that describes the manner in which the person
named therein shall respond to the board.
J. In accordance with the provisions of
this Chapter and the Administrative Procedure Act, the board may
impose a civil penalty not to exceed five thousand dollars and costs
and attorney fees upon any person who is found to have engaged in real
estate appraiser activity without a license.
K. An unlicensed person who engages in
or offers to engage in, or performs or offers to perform, any of the
practices, acts, or operations set forth in R.S. 37:3392 and this
Section shall be sufficient to raise a presumption of fact or to
establish the fact that he has illegally engaged in or performed real
estate appraiser activity.
L. A person engaged in real estate
appraiser activity without a license shall not have the right to
receive any compensation for services so rendered. In addition to any
other penalties imposed under this Chapter, the board may require any
person engaged in real estate appraiser activity without a license to
return any fees collected for such activity.
Acts 1987, No. 472, §1; Acts 2003, No. 341, §1;
Acts 2005, No. 188, §1.
§3394. Louisiana Real Estate Appraisers Board
A. There is hereby created within the office
of the governor the Louisiana Real Estate Appraisers Board, which shall be
comprised as provided in Subsection B of this Section.
B.(1) Nine members shall be appointed by the
governor with one member appointed from each congressional district and the
remainder appointed at large. Of the nine members appointed by the governor:
(a) One shall be appointed from a list of
three names submitted by the Louisiana Bankers Association each of whom shall
have been involved in real estate lending for at least five years.
(b) One shall be appointed from a list of
three names submitted by the Community Bankers of Louisiana, each of whom shall
have been involved in real estate lending for at least five years.
(c) The remainder shall have been Louisiana
residents engaged in the general practice of real estate appraising in the state
of Louisiana for not less than five years immediately preceding their
appointment.
(2) At least four of the nine shall be
general appraisers and at least two of the nine shall be residential appraisers.
All appraiser members shall be state certified.
C. Each appointment by the governor shall be
submitted to the Senate for confirmation.
D. All members shall be appointed for
three-year terms. All terms shall commence thirty days after the appointment,
and all members shall serve until their successors have been appointed and
qualified. Vacancies occurring in the membership of the board for any reason
shall be filled by appointment by the governor for the unexpired term. Upon
expiration of their terms, members of the board shall continue to hold office
until the appointment and qualification of their successors. No person shall be
appointed for more than two consecutive terms. The appointing authority may
remove a member for cause.
E. The executive director of the commission
shall serve as executive director of the board.
F. The board shall meet at least once each
calendar quarter to conduct its business. The location in Louisiana of future
meetings shall be decided by a vote of the members present at the current
meeting. The executive director shall give written notice to each member of the
time and place of each meeting of the board at least ten days before the
scheduled date of the meeting.
G. The members of the board shall elect a
chairperson, vice chairperson, and secretary.
H. Five members of the board shall constitute
a quorum for all business.
I. Each member of the board shall be entitled
to a per diem allowance of fifty dollars for each meeting of the board at which
the member is present. Each member of the board shall be entitled to
reimbursement of their actual expenses for travel, meals, and lodging.
Acts 1987, No. 472, §1; Acts 1991, No. 94, §1,
eff. Jan. 13, 1992; Acts 1991, No. 412, §1; Acts 1993, No. 949, §1; Acts 1995,
No. 690, §2; Acts 2001, No. 8, §12, eff. July 1, 2001; Acts 2001, No. 833, §2;
Acts 2003, No. 341, §1.
§3395. Powers, duties
A. The board shall have the following
autonomous powers and duties:
(1) To regulate the issuance of real estate
appraiser and trainee licenses.
(2) To establish administrative procedures for
processing applications and issuing licenses to real estate appraisers and
trainees.
(3) To adopt any rules and regulations in
accordance with the Administrative Procedure Act necessary for the enforcement
of this Chapter.
(4) To require any satisfactory proof it may
desire in reference to the honesty, truthfulness, reputation, knowledge, and
experience of any applicant for a real estate appraiser license prior to the
issuance of any license.
(5) To adopt standards for the development and
communication of real estate appraisals and to adopt regulations explaining and
interpreting the standards.
(6) To conduct disciplinary proceedings
pursuant to the provisions of this Chapter, to suspend or revoke licenses, and
to censure and fine licensees.
(7) To impose continuing education
requirements on licensees.
(8) To adopt a seal by which it shall
authenticate its proceedings.
(9) To perform such other functions and duties
as may be necessary to carry out the provisions of this Chapter.
B. Notwithstanding any provisions contained in
this Chapter to the contrary, the board may adopt such regulations as may be
necessary to comply with the minimum requirements of the Appraisal Subcommittee
of the Federal Financial Institutions Examination Council, its agent, or its
successor.
C. The board shall have authority to require
any real estate appraiser licensee to maintain records, as specified in this
Chapter, and to inspect and subpoena such records.
D. The board shall have the authority to
subpoena any real estate appraiser licensee or witness for the purpose of
holding any hearing or in furtherance of an investigation. Failure of a
licensee to comply with a subpoena duces tecum shall be punishable by the board
in accordance with the provisions of R.S. 37:3409.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1991, No. 695, §1; Acts 1993, No. 949, §§1, 2; Acts 1995, No. 690, §2; Acts
2003, No. 341, §1.
{{NOTE: SEE ACTS 1987, NO. 472, §2.}}
§3395.1. Peer
Review Committee; powers and duties
A. The Louisiana
Real Estate Appraisers Board is granted the authority to create as needed a Peer
Review Committee, and it shall be referred to hereafter as the "committee".
B. The committee
shall be comprised of certified real estate appraisers and shall provide
assistance as necessary to the board regarding the performance of its functions
and duties in pre-license and post-license review and regulation. Each member
of the committee shall serve without compensation but shall be reimbursed for
actual expenses and mileage incurred in carrying out his duties as a committee
member in accordance with the state travel regulations promulgated by the
division of administration.
C. There shall
be no liability on the part of and no action for damages against the board or a
member of the committee on any action taken or recommendation made by a member
of the committee acting within the scope of his function as a member of or
consultant to the committee if such action was taken or recommendation was made
without malice.
D. The board
shall promulgate rules and regulations subject to the Administrative Procedure
Act in order to effectuate this Section.
Acts 2008, No.
197, §1.
§3396. Applications
A. Applications for examination, experience
review, and renewal certification shall be made in writing to the board on forms
provided by the board.
B. Appropriate fees, as set forth in R.S.
37:3407, must accompany all applications for examination, experience review, and
renewal certification.
C. Each applicant shall sign a pledge to
comply with the standards set forth in this Chapter and shall state that he or
she understands the types of misconduct for which disciplinary proceedings may
be initiated against a state licensed real estate appraiser.
D.(1) Licenses shall be granted only to
persons who have attained the age of eighteen years, who hold a high school
diploma or its equivalent, and who bear a good reputation for honesty,
trustworthiness, integrity, and competence to perform real estate appraisals and
only after satisfactory proof of such qualifications has been presented to the
board.
(2) When an applicant has been convicted of
forgery, embezzlement, obtaining money under false pretense, larceny, extortion,
conspiracy to defraud, or theft, or has been convicted of a felony or a crime of
moral turpitude in any court of competent jurisdiction, such untrustworthiness
of the applicant or the conviction itself may be sufficient grounds for refusal
to issue a license.
(3) When an applicant has made a false
statement of material fact on his application, such false statement may in
itself be sufficient grounds for refusal to issue a license.
E. Suspension or revocation or grounds for
suspension or revocation of a real estate appraiser license, or its equivalent,
or a real estate salesperson or broker license in any jurisdiction may be
grounds for refusal to issue a real estate appraiser license.
F.(1) A real estate appraiser whose license
has been revoked as a result of disciplinary action in any jurisdiction shall
not be eligible to apply for a Louisiana real estate appraiser license for at
least five years following the date on which the license, or its equivalent, was
revoked.
(2) An applicant whose license, or its
equivalent, has been revoked shall meet all requirements of an initial applicant
and shall present evidence of completion of fifteen hours of continuing
education for each renewal period, or portion thereof, following the date on
which the license, or its equivalent, was revoked.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1993, No. 949, §1; Acts 1995, No. 690, §2; Acts 2001, No. 888, §1; Acts
2003, No. 341, §1.
§3397.
License classifications;
criteria
A.(1) There shall be three classes of licenses
for real estate appraisers. Such classes shall conform in all respects with the
Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub. L. No.
101-73, and any subsequent amendments and regulations issued pursuant thereto.
(2) The application for examination,
experience review, and renewal certification shall specify the license
classification for which the applicant is applying.
B.(1) Applicants for a real estate
appraiser trainee license shall be subject to the following:
(a) The Competency Provision of the Uniform
Standards of Professional Appraisal Practice (USPAP).
(b) Training and direct supervision by an
appraiser who is licensed and in good standing as a residential real estate
appraiser or a general real estate appraiser. The trainee is permitted to have
more than one supervising appraiser. The scope of work for the real estate
appraiser trainee is limited to the appraisal of those properties that the
supervising real estate appraiser is licensed to appraise.
(c) Completion
of seventy-five classroom hours of qualifying education, or its equivalent, in
core education subjects that include thirty hours of basic appraisal principles,
thirty hours of basic appraisal procedures, and the fifteen-hour National
Uniform Standards of Professional Appraisal Practice course, or its equivalent,
and passage of a final examination in each course. These hours may be credited
toward the educational requirement for all appraiser license classifications.
(2) There are no additional examination or
experience requirements other than those listed in this Subsection for the real
estate appraiser trainee license.
(3) The real estate appraiser trainee shall
maintain a separate appraisal log for each supervising licensed appraiser that
includes, at a minimum, the following information for each appraisal:
(a) Type of property.
(b) Client name and address.
(c) Address of appraised property.
(d) Description of work performed.
(e) Number of work hours.
(f) Name, signature, and state license number
of the supervising licensed appraiser.
(4) A real estate appraiser trainee may not be
licensed in this category in excess of six years. All trainees who have been
licensed in excess of two years shall be required to obtain continuing education
that is equivalent to fifteen classroom hours of instruction for each year.
(5) The real estate appraiser trainee shall be
entitled to obtain copies of appraisal reports prepared by the trainee. The
supervising appraiser shall keep copies of the trainee appraisal reports for a
period of at least five years or at least two years after final disposition of
any judicial proceeding in which testimony is given, whichever period expires
last.
(6) Effective January 1, 2008, the minimum
education, examination, and experience requirements for a real estate
appraiser trainee license shall be those mandated by the federal
Appraiser Qualifications Board (AQB) and published in the 2006 Real
Property Appraiser Qualification Criteria or any subsequent amendments
and regulations issued pursuant thereto.
C. (1)
Applicants for a
certified
residential
real estate appraiser license
shall be subject to the
following:
(a) The competency provision of the Uniform
Standards of Professional Appraisal Practice (USPAP).
(b) Successful completion of the Uniform State
Certified Residential Real Property Appraiser Examination, or its equivalent.
There is no substitution for successful completion of the examination.
Successful completion of the Uniform State Certified General Real Property
Appraiser Examination is not equivalent to successful completion of the Uniform
State Certified Residential Real Property Appraiser Examination and may not be
substituted as such.
(c) As a
prerequisite to taking the required examination, successful completion of one
hundred twenty classroom hours, or its equivalent, in real estate
appraisal-related subjects that include the fifteen-hour National USPAP Course,
or its equivalent, and successful passage of a final examination. These hours
may be credited toward the educational requirement for all appraiser license
classifications.
(d) The presentation of evidence satisfactory
to the board that the applicant has completed a minimum of two thousand five
hundred hours of real property appraisal experience.
(2) The application for a license shall not be
submitted until such time that the applicant has passed the Uniform State
Certified Residential Real Property Appraiser Examination, or its equivalent.
(3) Proof of experience hours claimed by an
applicant shall be submitted on forms prescribed by the board. Such hours
cannot be obtained in less than twenty-four months, and education hours cannot
be substituted for experience.
(4) The equivalent of fifteen classroom hours
of continuing education instruction is required for each year in which a
residential real estate appraiser license is issued.
(5) Effective January 1, 2008, the minimum
education, examination, and experience requirements for a certified
residential real estate appraiser license shall be those mandated by the
federal Appraiser Qualifications Board (AQB) and published in the 2006
Real Property Appraiser Qualification Criteria or any subsequent
amendments and regulations issued pursuant thereto.
D.(1) All applicants for a
certified general
real estate appraiser
license shall be subject to the following:
(a) The competency provision of the Uniform
Standards of Professional Appraisal Practice (USPAP).
(b) Successful completion of the Uniform State
Certified General Real Property Appraiser Examination, or its equivalent. There
is no alternative to successful completion of the examination.
(c)
As a prerequisite to taking the required examination, successful
completion of one hundred eighty classroom hours, or its equivalent, in
real estate
appraisal-related subjects that include
the fifteen-hour National USPAP Course, or its equivalent, and
successful passage of a final
examination.
(d) Presentation of evidence satisfactory to
the board that the applicant has completed a minimum of three thousand hours of
real property appraisal experience.
(2) Proof of hours of experience claimed by
the applicant shall not be submitted until such time that the applicant has
passed the Uniform State Certified General Real Property Appraiser Examination,
or its equivalent.
(3) Proof of hours of experience claimed by an
applicant shall be submitted on forms prescribed by the board, and such hours
cannot be obtained in less than thirty-six months. Education hours cannot be
substituted for experience.
(4) The equivalent of fifteen classroom hours
of continuing education instruction is required for each year in which a general
real estate appraiser license is issued.
(5) Effective January 1, 2008, the minimum
education, examination, and experience requirements for a certified
general real estate appraiser license shall be those mandated by the
federal Appraiser Qualifications Board (AQB) and published in the 2006
Real Property Appraiser Qualification Criteria or any subsequent
amendments and regulations issued pursuant thereto.
Acts 1987, No. 472, §1; Acts 1993, No. 949, §1;
Acts 1995, No. 690, §2; Acts 2003, No. 341, §1.
§3398. Examination
A. A license as a real estate appraiser shall
not be issued in any class other than real estate appraiser trainee unless the
applicant demonstrated through a written examination process that he or she
possesses the following:
(1) Knowledge of technical terms commonly used
in or related to real estate appraising, appraisal report writing, and economic
concepts applicable to real estate appropriate to the type of license sought.
(2) Basic understanding of real estate law.
(3) Adequate knowledge of theories of
depreciation, cost estimating, methods of capitalization, and the mathematics of
real estate appraisal.
(4) Understanding of the principles of land
economics, real estate appraisal processes, and of problems likely to be
encountered in the gathering, interpreting, and processing of data in carrying
out appraisal disciplines.
(5) Understanding of the standards for the
development and communication of real estate appraisals as provided in this
Chapter.
(6) Understanding of the types of misconduct
for which disciplinary proceedings may be initiated against a state licensed
real estate appraiser, as set forth in this Chapter.
B. Any applicant not licensed within two years
after passing an examination given pursuant to the provisions of this Chapter
shall be required to retake and pass the examination.
C. An applicant who has failed an examination
may reapply for examination by submitting an application fee within ninety days
of the last examination date.
D. All applicants for licensure shall have
successfully completed all educational requirements, as provided in this
Chapter, have earned a high school diploma, or its equivalent, and have
successfully completed an examination given pursuant to this Section prior to
submitting evidence to the board of having completed the number of hours of
experience required for licensure.
E. Repealed by Acts 2003, No. 341, §3.
Acts 1987, No. 472, §1; Acts 1993, No. 949, §1;
Acts 1997, No. 1363, §1, eff. July 15, 1997; Acts 1999, No. 158, §1; Acts 2001,
No. 888, §1; Acts 2003, No. 341, §§1 and 3.
§3399. Repealed by Acts 2003, No. 341, §3.
§3400. Term of licenses
All licenses issued under this Chapter shall be
issued for two years and shall expire on the second December thirty-first
following the date on which it was issued.
Acts 1987, No. 472, §1; Acts 2003, No. 341, §1.
§3401. Nonresident license; temporary
registration; reciprocity
A. Every nonresident applicant for a license
issued under this Chapter shall submit an irrevocable consent that service of
process in any action against the applicant arising out of the applicant's
activities as a licensed real estate appraiser may be made by delivery of the
process to the secretary of state, if the plaintiff cannot, in the exercise of
due diligence, effect personal service upon the applicant.
B. A nonresident applicant who has complied
with the provisions of Subsection A of this Section may apply for a license as a
real estate appraiser in this state by conforming to all of the provisions of
this Chapter relating to real estate appraisers.
C. A nonresident real estate appraiser
certified or licensed in another jurisdiction may make appraisals on a temporary
basis only if each of the following conditions are met:
(1) Repealed by Acts 2003, No. 341, §3.
(2) The Appraisal Subcommittee of the Federal
Financial Institutions Examination Council, or its successor, has approved the
state, commonwealth, or territory program under which the nonresident appraiser
is licensed or certified.
(3) The nonresident appraiser has registered
with the board and has provided the board with each of the following:
(a) A license or certification history from
the jurisdiction in which he is currently certified or licensed verifying that
his certification or license is valid and in good standing.
(b) Repealed by Acts 2003, No. 341, §3.
(c) Payment of the temporary registration fee
specified in R.S. 37:3407(A)(7).
(d) Written recognition of the fact that this
registration is of a temporary nature.
D. If the board determines that another
jurisdiction has substantially equivalent certification or license requirements
to those of this state, the board may enter into a reciprocal agreement with the
appropriate authority to allow any resident applicant who is certified under the
laws of that jurisdiction to obtain a reciprocal license as a real estate
appraiser in this state. The terms and conditions shall be determined by
written agreement between the jurisdictions.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1993, No. 949, §1; Acts 1995, No. 690, §2; Acts 2003, No. 341, §§1 and 3.
§3402. Repealed by Acts 2003, No. 341, §3.
§3403. Renewal of license
A.(1) Each license issued under this Chapter
shall be issued for a period of two years and shall expire on the second
December thirty-first following the date on which it is issued. A license which
is not renewed by January first shall be considered to be expired, and any
appraisal practice that is conducted in this state after expiration of the
license shall be deemed a violation of this Chapter.
(2) Any licensee who submits a renewal
application which is received by the board after the expiration date shall pay
the delinquent fee provided for in R.S. 37:3407(A).
B. Any licensee who fails to renew timely may
thereafter renew during the six-month period immediately following the last date
on which the licensee held a valid license. Former licensees who are not
eligible for renewal because of delay beyond the six-month delinquent renewal
period shall apply as initial applicants.
Acts 1987, No. 472, §1; Acts 1993, No. 949, §1;
Acts 1995, No. 690, §2; Acts 2003, No. 341, §1.
§3404. Repealed by Acts 2003, No. 341, §3.
§3405. Principal place of business for
appraiser
A. Each licensed real estate appraiser shall
advise the board of the address of his or her principal place of business and
all other addresses at which he is currently engaged in the business of
preparing real property appraisal reports.
B. Each licensed appraiser shall report any
changes in the address or telephone number of his business or residence to the
board in writing within ten days of the change.
Acts 1987, No. 472, §1; Acts 1993, No. 949, §1;
Acts 1995, No. 690, §2; Acts 2003, No. 341, §1.
§3406.
Issuance of license; display; use of term
A. A license issued under authority of this
Chapter shall bear the signatures or facsimile signatures of the chairperson and
secretary of the board and a license number assigned by the board.
B. Each licensed real estate appraiser shall
include his classification and license number in all appraisal reports,
contracts, or other instruments used by the licensee in conducting real property
appraisal activities.
C. Repealed by Acts 2003, No. 341, §3.
D. Real estate appraisers
that use their license for
advertising purposes, including but not limited to logos, stationery, and business cards, shall place their license number adjacent to or
immediately below their license classification.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1995, No. 690, §2; Acts 2001, No. 833, §2; Acts 2003, No. 341, §§1 and 3.
§3407. Fees
A. The board shall charge and collect fees not
in excess of the following:
(1) License application fee $200.00
(2) License history fee $25.00
(3) Examination processing fee $100.00
(4) Experience review $100.00
(5) License renewal fee $200.00
(6) Delinquent renewal fee: January 1 -
February 15 $25.00 February 16 - June 30 $100.00
(7) Temporary registration fee $50.00
(8) Initial qualifying/continuing education
provider fee $100.00
(9) Annual renewal fee for education provider
$100.00
(10) Filing fee for additional course offerings
submitted by approved education providers $10.00
B.(1) In addition to the fees provided for in
Subsection A of this Section, the board may charge each applicant or licensee
twenty dollars for each two-year license. The funds shall be included in the
research and education fund of the Louisiana Real Estate Commission and shall be
dedicated for use by the board to sponsor, conduct, contract for, and underwrite
any and all research projects or real estate appraisal programs having to do
with the advancement of the real estate appraisal industry in Louisiana.
(2) Additionally, the board may collect any
required federal fees from each applicant or licensee and remit them to the
appropriate agency or instrumentality of the federal government as may be
required to render Louisiana licensed real estate appraisers eligible to perform
appraisals in connection with federally related transactions.
C. All fees shall be paid into the operating
account of the board for the purpose of carrying out the provisions of this
Chapter.
D. Activities of the board shall be audited in
accordance with R.S. 24:513.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1993, No. 949, §1; Acts 1995, No. 690, §2; Acts 2003, No. 341, §1.
§3408. Continuing education requirements
A. As a prerequisite to renewal of a real
estate appraiser license, all licensees shall present evidence satisfactory to
the board of having met the continuing education requirements set forth in this
Chapter.
B. The basic continuing education requirements
for renewal of a license shall be the completion of not less than thirty
classroom hours, or its equivalent, in courses which have received the approval
of the board. As part of this requirement, the applicant shall complete a
minimum of seven classroom hours of instruction covering the Uniform Standards
of Professional Appraisal Practice every renewal period.
C. In lieu of meeting the requirements of
Subsection B of this Section, an applicant for renewal may present evidence of
the following:
(1) Completion of courses determined by the
board to be equivalent to continuing education courses approved by the board
pursuant to Subsection B of this Section.
(2) Participation, other than as a student, in
educational processes and programs in real property appraisal theory, practices,
or techniques, including but not limited to teaching, program development, and
preparation of textbooks, monographs, articles, and other instructional
materials, all to be approved by the board.
D. The board shall adopt regulations for
implementation of the provisions of this Section to provide licensees with
current knowledge of real property appraisal theories, practices, and
techniques. Such regulations shall prescribe the following:
(1) Policies and procedures for obtaining
board approval of courses pursuant to Subsection B of this Section.
(2) Standards, policies, and procedures to be
applied by the board in evaluating course equivalency as specified in Subsection
C of this Section.
(3) Standards, monitoring methods, and systems
for recording attendance to be employed by course sponsors as a prerequisite to
board approval of courses for credit.
E. In making recommendations pursuant to
Paragraph D(1) of this Section, the board shall give favorable consideration to
courses of instruction, seminars, and other real property appraisal education
courses or programs previously or hereafter developed by or under the auspices
of professional appraisal organizations and utilized by those associations for
purposes of designation, certification, or recertification of the members of the
association.
F. No amendment or repeal of a regulation
adopted by the board pursuant to this Section shall operate to deprive a
licensed real estate appraiser of credit toward renewal of certification for any
course of instruction completed by the applicant prior to the amendment or
repeal of the regulation, if the course would have qualified for continuing
education credit under the regulation as it existed prior to the repeal or
amendment.
Acts 1987, No. 472, §1; Acts 1993, No. 949, §1;
Acts 1995, No. 690, §2; Acts 2001, No. 888, §1; Acts 2003, No. 341, §1.
§3409. Disciplinary proceedings
A. The board may censure a licensed real
estate appraiser, conditionally or unconditionally suspend or revoke any license
issued under this Chapter, levy fines or impose civil penalties not to exceed
five thousand dollars, or impose continuing education requirements on licensees
if, in the opinion of the board, a licensee is performing, is attempting to
perform, has performed, or has attempted to perform any of the following acts:
(1) Committing any act in violation of this
Chapter.
(2) Violating any rule or regulation adopted
by the board in the interest of the public and consistent with the provisions of
this Chapter.
(3) Knowingly making any false representation
to any party in developing or communicating an appraisal.
(4) Accepting an appraisal assignment when the
employment itself is contingent upon the appraiser reporting a predetermined
analysis or opinion or where the fee to be paid for the performance of this
appraisal assignment is contingent upon the opinion, conclusion, or valuation
reached or upon the consequences resulting from the appraisal assignment.
(5) Violating the confidential nature of
governmental records to which he gained access through employment or engagement
as an appraiser by a governmental agency.
(6) Procuring a license for himself or anyone
else by fraud, misrepresentation, or deceit.
(7) Having been convicted of a felony or
having entered a plea of nolo contendere to a felony charge.
(8) Failing to make available to the board for
its inspection, without prior notice, originals or true copies of all written
contracts engaging the person's services to appraise real property and all
reports and supporting data assembled and formulated by the appraiser in
preparing the reports.
(9) Paying a fee or valuable consideration to
any person for acts or services performed in violation of this Chapter.
(10) Acting as a real estate appraiser in an
unworthy or incompetent manner that may endanger the public interest.
B.(1) Sole authority for the conduct of
adjudicatory proceedings in accordance with the Administrative Procedure Act for
violations of this Chapter is vested in the board.
(2) Before censuring any licensee, or
suspending or revoking any license, the board shall notify the licensee in
writing of any charges made at least twenty days prior to the date set for the
hearing and shall afford him an opportunity to be heard in person or by counsel.
(3) The written notice shall be satisfied by
personal service on the respondent, or by sending the notice by certified mail
to the licensee's address on file with the board, or by hand delivery from board
personnel.
(4) The board shall have the power to subpoena
and issue subpoenas duces tecum and to bring before it any person in this state
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 board.
C.(1) The hearing on the charges shall be at a
time and place prescribed by the board and in accordance with the Administrative
Procedure Act.
(2) The board may make findings of fact and
shall deliver or mail such findings to the licensee charged with an offense
under this Chapter. Any finding of fact by the board pursuant to this
Subsection shall be conclusive.
(3) Any final decision or determination of the
board in adjudicatory proceedings shall be reviewable as to questions of law by
the Nineteenth Judicial District Court in the parish of East Baton Rouge. Any
application for judicial review made by an aggrieved party shall be filed within
thirty days after the final decision of the board.
(4) If a petition to review the final decision
of the board is filed, the case shall be specifically fixed for trial within
thirty days from the filing of an answer by the board. If the court finds that
the board has properly pursued its authority in accordance with the law, is
supported by evidence in the record, and has not acted arbitrarily, it shall
affirm the decision, order, or ruling of the board.
(5) If an appeal is filed in the Nineteenth
Judicial District Court, the court shall receive the entire record of the
hearing.
(6) Absent an agreement of counsel for all
parties, no stay of enforcement of a decision issued by the board shall be
granted during the pendency of an appeal unless the Nineteenth Judicial District
Court finds that the applicant has established that the issuance of the stay
does not threaten harm to other interested parties.
(7) No stay shall be granted ex parte. The
court shall schedule a hearing on the request for a stay order within ten days
from filing. The decisions shall be rendered within five days after the
conclusion of the hearing.
(8) No judicial order staying or enjoining the
effectiveness or enforcement of a final decision or order of the board in an
adjudication proceeding, whether issued pursuant to R.S. 37:3409 or otherwise,
shall be effective, or be issued to be effective, longer than either of the
following:
(a) One hundred twenty days from the date on
which the board's decision or order was rendered.
(b) The date on which the court enters
judgment in a proceeding for judicial review of the board's decision or order
pursuant to R.S. 49:964, whichever occurs first.
D. The board may also suspend or revoke the
license of a real estate appraiser based upon a final civil judgment against the
appraiser on grounds of fraud, misrepresentation, or deceit in the making of an
appraisal of real property. In a disciplinary proceeding based upon such
judgment, the licensed real estate appraiser shall be afforded notice and the
opportunity to present matters in mitigation and extenuation but shall not
collaterally attack the civil judgment.
E. It shall be the duty of each licensed real
estate appraiser to notify the board within ten days by registered or certified
mail or by hand delivery of the following actions:
(1) The rendering of a final judgment against
the appraiser by a court of competent jurisdiction the subject matter of which
involves a real estate appraisal transaction to which the appraiser was a party.
(2) The institution of criminal prosecution by
arrest or indictment which involves a real estate appraisal transaction to which
the appraiser was a party.
(3) Any conviction of the appraiser by a court
of competent jurisdiction for forgery, embezzlement, obtaining money under false
pretenses, larceny, extortion, conspiracy to defraud, theft, any other felony,
or any crime involving moral turpitude.
F. A licensed real estate appraiser shall not
participate in the preparation of federally related real estate appraisals
during any period in which his license has been suspended by the board pursuant
to adjudicatory proceedings.
Acts 1987, No. 472, §1; Acts 1991, No. 412, §1;
Acts 1993, No. 949, §1; Acts 1995, No. 690, §2; Acts 1999, No. 158, §1; Acts
2003, No. 341, §1.
§3410. Standards for the development and
communication of real estate appraisals
A licensed real estate appraiser shall comply
with generally accepted standards of professional practice in the development
and communication of appraisals of real estate located in this state and with
generally accepted ethical rules of conduct as contained in the "Uniform
Standards of Professional Appraisal Practice", or its successor, as approved by
the Appraisal Subcommittee of the Federal Financial Institutions Examination
Council, or its successor.
Acts 1987, No. 472, §1; Acts 1990, No. 740, §1;
Acts 1991, No. 412, §1; Acts 2003, No. 341, §1.
§3411. Documents to be retained
A licensed real estate appraiser shall retain
for five years originals or true copies of contracts engaging the appraiser's
services for real property appraisal work, appraisal reports, and supporting
data assembled and formulated by the appraiser in preparing reports. The period
for retention of the records applicable to each engagement of the services of
the appraiser shall run from the date of the submission of the appraisal report
to the client. These records shall be made available by the appraiser for
inspection and copying by the board on reasonable notice to the appraiser. When
litigation is contemplated at any time, reports and records shall be retained
for two years after the trial date.
Acts 1987, No. 472, §1; Acts 1995, No. 690, §2;
Acts 2003, No. 341, §1.
§3412. False information
It shall be unlawful for any person or his
agent to file with the board any notice, statement, or other document required
under the provisions of this Chapter which is false or contains any material
misstatement of fact.
Acts 1987, No. 472, §1; Acts 1995, No. 690, §2.
§3413. Penalty
Any person who violates any provision of this
Chapter shall be fined not more than five thousand dollars, imprisoned for not
more than six months, or both.
Acts 1995, No. 690, §2; Acts 2003, No. 341, §1.
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