324A.015 Real Estate Appraisers Board -- Members -- Removal -- Seal --
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/ky/324a-015A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Compensation -- Duty.
(1)There is created a Real Estate Appraisers Board consisting of five
(5)members, two
(2)of whom shall be certified real estate appraisers, one
(1)of whom shall
represent the public and shall not be associated with or financially interested in the
practice of real estate appraisals, and two
(2)of whom shall be employed in the
lending industry. The board shall administer the provisions of this chapter and may
promulgate administrative regulations necessary to effectuate the provisions of
KRS 324A.010 to 324A.090.
(a)The board members shall be appointed by the Governor. Not more than one
(1)board member shall be from any one
(1)county within Kentucky.
Members shall be appointed by the Governor for staggered terms of three
years. No person shall serve more than two
(2)full consecutive terms.
(b)Any member appointed to fill a vacancy occurring other than by expiration of
a term shall be appointed for the remainder of the unexpired term.
(c)No more than three
(3)members of the same political party shall serve on the
board at the same time.
(3)The appraiser appointees to the board shall be certified and shall have engaged in
the appraisal of real estate in Kentucky on a continuing basis for at least ten
years.
(4)A board member shall be automatically removed from the board and a vacancy
shall occur when:
(a)An appraiser member of the board ceases to be certified;
(b)A consumer member of the board acquires a certification as an appraiser;
(c)A lending industry member ceases to be employed in the lending industry;
(d)A board member enters a plea of guilty to, or has been found guilty of, a
felony and the time for appeal has passed or the judgment of conviction has
been finally affirmed on appeal;
(e)A board member ceases to be a bona fide resident of the Commonwealth of
Kentucky;
(f)A board member displays incompetence, neglect of duty, or unprofessional
conduct;
(g)A board member fails to adhere to a duly adopted code of ethics of the board.
Failure to adhere to this code shall be determined by official action of the
board; or
(h)A board member misses three
(3)consecutive meetings or misses more than
twenty-five percent (25%) of the meetings held over the previous twelve
month period.
(5)The board shall adopt a seal with the design it prescribes, by which it shall
authenticate its proceedings. Copies of all records and papers in the office of the
board, duly certified and authenticated by the seal of the board, shall be received in
evidence in all courts equally and with like effect as the original. All records kept in
the office of the board under the authority of this chapter shall be open to public
inspection in accordance with KRS 61.820 to 61.884 and consistent with
regulations prescribed by the board.
(6)The Governor shall set the compensation of the members of the board, but voting
members of the board shall be compensated no more than three hundred dollars
($300) per day for official business, subject to an annual maximum of six thousand
dollars ($6,000). Members shall be reimbursed for all expenses paid and incurred in
the discharge of official business consistent with the reimbursement policy for state
employees. With the approval of the director of the Division of Real Property
Boards within the Department of Professional Licensing, board members and board
staff may attend and travel to and from meetings and events relevant to the board or
the industry the board represents.
(7)The board shall ensure that those employed to investigate grievances filed with the
board are state-certified general appraisers with a minimum of five
(5)years of
experience.