126th General Assembly
(As Passed by the General Assembly)
Sens. Schuler, Clancy, Mumper, Spada
Reps. Seitz, Collier, Cassell, Distel, Schaffer, Barrett, Combs, DeBose, Domenick, Fende, Fessler, Flowers, Hartnett, Hughes, Miller, Raga, Schneider, Stewart, D., Yuko
Effective date: *
ACT SUMMARY
· Establishes requirements for the temporary registration rather than the issuance of temporary certificates or licenses to real estate appraisers from other states.
· Creates as a new condition that must be satisfied to obtain a temporary registration a requirement that the appraisal assignment for which the temporary registration is needed is part of a federally related transaction.
· Requires the temporary registration to be limited to one appraisal assignment rather than requiring the temporary certification and licensure to be limited to one real estate property.
CONTENT AND OPERATION
(1) The temporary registration is to perform an appraisal assignment that is part of a federally related transaction;
(2) The appraiser's business in this state is of a temporary nature;
(3) The appraiser registers with the Board.
Under the act an appraiser who is certified or licensed in another state must register with the Board for temporary practice before performing an appraisal assignment in this state in connection with a federally related transaction. Former law required a nonresident appraiser to apply for, and allowed the Board to issue, a temporary certificate or license under Ohio's Real Estate Appraisers Law (R.C. Chapter 4763.) if the Board determined that the state in which the nonresident appraiser was licensed or certified had licensing or certification requirements that were substantially similar to the certification or licensure requirements established in Ohio's Real Estate Appraisers Law and the rules adopted under that law. The act requires the Board to adopt rules relating to registration for the temporary recognition of certification and licensure of appraisers from another state. Former law required the Board to adopt rules relating to the temporary certification and licensure of nonresident appraisers.
Similar to the limitations imposed under former law, under the act the registration for such temporary recognition must not authorize completion of more than one appraisal assignment in Ohio. Additionally, the Board cannot issue more than two registrations for temporary practice to any one applicant in any calendar year. Prior law required each temporary certificate and license issued by the Board to identify the location of the real estate property to be appraised and prohibited the temporary certificate and license from authorizing appraisal of more than one real estate property located in this state. (Sec. 4763.05(E)(2).)
HISTORY
|
ACTION |
DATE |
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|
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Introduced |
05-10-05 |
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Reported,
S. Insurance, |
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Passed Senate (32-0) |
06-22-05 |
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Reported, H. Commerce & Labor |
10-19-05 |
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Passed House (91-0) |
11-16-05 |
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Senate
concurred in House |
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05-sb144-126.doc/kl
* The Legislative Service Commission had not received formal notification of the effective date at the time this analysis was prepared. Additionally, the analysis may not reflect action taken by the Governor.