(Section scheduled to be repealed on January 1, 2027)

340 words·~2 min read·/il/chapter-225/act-458/1-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 10-5. Scope of practice.

(a)This Act does not limit a State certified general real estate appraiser's scope of practice in a federally related transaction. A State certified general real estate appraiser may independently provide appraisal services, review, or consult related to any type of property for which there is related experience or competency by the appraiser. All such appraisal practice must be made in accordance with the provisions of USPAP, criteria established by the AQB, and rules adopted pursuant to this Act.

(b)A State certified residential real estate appraiser is limited in scope of practice to the provisions of USPAP, criteria established by the AQB, and the rules adopted pursuant to this Act.

(c)A State certified residential real estate appraiser must have a State certified general real estate appraiser who holds a valid license under this Act co-sign all appraisal reports on properties other than one to 4 units of residential real property without regard to transaction value or complexity.

(d)An associate real estate trainee appraiser is limited in scope of practice in all transactions or appraisal reports in accordance with the provisions of USPAP, this Act, and the rules adopted pursuant to this Act. An associate real estate trainee appraiser shall be required to have a State certified general real estate appraiser or State certified residential real estate appraiser who holds a valid license under this Act to co-sign all appraisal reports. A supervising appraiser may not supervise more than 3 associate real estate trainee appraisers at one time. Associate real estate trainee appraisers shall not be limited in the number of concurrent supervising appraisers. A chronological appraisal log on an approved log form shall be maintained by the associate real estate trainee appraiser and shall be made available to the Department upon request. Notwithstanding any other provision of this subsection to the contrary, the Appraisal Qualification Board may establish alternative experience requirements as an associate real estate trainee appraiser that is adopted by rule.