61-2g-401. State-certified and state-licensed appraisers -- Restrictions on use of terms -- Conduct prohibited or required -- Trainee.

487 words·~2 min read·/ut/title-61/chapter-2g/61-2g-401

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

Effective 5/12/2020

(a)The terms "state-certified general appraiser," "state-certified residential appraiser," and "state-licensed appraiser":

(i)may only be used to refer to an individual who is certified or licensed under this chapter; and

(ii)may not be used following, or immediately in connection with, the name or signature of a firm, partnership, corporation, or group, or in any manner that it might be interpreted as referring to a firm, partnership, corporation, group, or to anyone other than the individual who is certified or licensed under this chapter.

(b)The requirement of this Subsection

(1)may not be construed to prevent a state-certified general appraiser from signing an appraisal report on behalf of a corporation, partnership, firm, or group practice if it is clear that:

(i)only the individual is certified; and

(ii)the corporation, partnership, firm, or group practice is not certified.

(c)Except as provided in Section 61-2g-103 , a certificate or license may not be issued under this chapter to a corporation, partnership, firm, or group.

(a)A person other than a state-certified general appraiser or state-certified residential appraiser may not assume or use any title, designation, or abbreviation likely to create the impression of certification in this state as a real estate appraiser.

(b)A person other than a state-licensed appraiser may not assume or use any title, designation, or abbreviation likely to create the impression of licensure in this state as a real estate appraiser.

(a)Only an individual who has qualified under the certification requirements of this chapter is authorized to prepare and sign a certified appraisal report relating to real estate or real property in this state.

(b)A state-certified residential appraiser may not prepare a certified appraisal report outside the state-certified residential appraiser's authority as defined in Section 61-2g-312 .

(c)A state-licensed appraiser who assisted in the preparation of a certified appraisal report is authorized to cosign the certified appraisal report.

(4)A person who has not qualified under this chapter may not describe or refer to any appraisal or appraisal report relating to real estate or real property in this state by the terms "certified appraisal" or "certified appraisal report."

(5)In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act , and with the concurrence of the division, the board may make rules for the administration of this section regarding:

(a)the signing of an appraisal report; or

(b)the disclosure and use of an appraiser or an appraiser trainee's division-assigned credential, registration, license, or certification number.

(6)If a trainee assists a state-certified appraiser in the preparation of an appraisal report, the appraisal report shall disclose:

(a)the trainee's name; and

(b)the extent to which the trainee assists in the preparation of the appraisal report.

Amended by Chapter 72 , 2020 General Session