126th General Assembly
(As Reported by H. Commerce and Labor)
Sens. Schuler, Clancy, Mumper, Spada
Reps. Seitz, Collier, Cassell, Distel, Schaffer
BILL 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
The bill instead requires the Board to recognize, on a temporary basis, a certification or license issued in another state and to temporarily register, rather than issue a temporary certificate or license to, an appraiser who is certified or licensed in another state if all of the following apply:
(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.
The bill requires an appraiser who is certified or licensed in another state to register with the Board for temporary practice before performing an appraisal assignment in this state in connection with a federally related transaction. The Board must adopt rules relating to registration for the temporary recognition of certification and licensure of appraisers from another state. Under the bill, 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. (Sec. 4763.05(E)(2).)
HISTORY
ACTION |
DATE |
JOURNAL ENTRY |
|
|
|
Introduced |
05-10-05 |
p. 492 |
Reported,
S. Insurance, |
|
|
Passed Senate (32-0) |
06-22-05 |
p. 1344 |
Reported, H. Commerce & Labor |
10-19-05 |
p. 1743 |
S0144-RH-126.doc/jc