Arkansas
Appraiser
Licensing &
Certification
Board
101 East
Capitol
Suite 430
Little Rock, AR
72201
Telephone:
(501) 296-1843
Fax:
(501) 296-1844
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Public Notice
Pursuant to Arkansas Code Annotated § 25-15-201 et seq. notice is hereby given that the Arkansas Appraiser Licensing and Certification Board is considering changes to its Rules and Regulations. The proposed rule changes include the following subjects and issues: Changes to qualifications for appraisers who supervise trainees.
These proposed rules changes will be available for public review at www.arkansas.gov/alcb/ or may be seen at the Office of the Arkansas Appraiser Licensing and Certification Board at 101 East Capital Ave, Suite 430, Little Rock, Arkansas during regular business hours from 8:00 AM to 4:30 PM from February 22, 2013 to March 25, 2013
Written comments received no later than March 25, 2012 will be considered by the Arkansas Appraiser Licensing and Certification Board prior to its action on this issue. Please address all written comments to Mr. Lee Gordon, Executive Director, Arkansas Appraiser Licensing and Certification Board, 101 East Capital Ave, Suite 430, Little Rock, AR 72201. A public hearing will be held at this address on Thursday, March 28, 2013 at 8:45 a.m.
Proposed Supervisory Appraiser Guidelines rule change
Information for Appraisal Management Company (AMC)
AMC Roster Search
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MISSION
STATEMENT
The Arkansas Appraiser Licensing and
Certification Board was created by action of the 78th General Assembly during its regular
session of 1991 with the passage of Act 541, "The Arkansas Appraiser Licensing and
Certification Act". The necessity for establishing this Agency was prompted by
enactment of Title XI of the Federal Financial Institutions Reform, Recovery, and
Enforcement Act of 1989, which requires after a specified date that all federally related
transactions requiring appraisals will be performed by state licensed and/or certified
appraisers. Act 541 was the instrument that set in motion the mechanics for Arkansas to
qualify, test, and issue licenses to appraisers in order that the State might be in
compliance with the federal act.
In its general purpose statement, Title XI
of FIRREA states that it is to "provide that federal, financial, and public policy
interest in real estate related transactions will be protected by requiring that real
estate appraisals utilized in connection with federally related transactions are performed
in writing, in accordance with the Uniform Standards, by individuals whose competency has
been demonstrated and whose professional conduct will be subject to effective
supervision".
The mission of this State Agency is
primarily to maintain a system of licensing and regulating real estate appraisers that is
in compliance with federal guidelines and results in license holders that have verified
adequate education, experience, and have demonstrated a competency to provide quality
service consistent with their specific credentials.
The Arkansas Appraiser Licensing and
Certification Board was officially constituted in July of 91 and members immediately began
drafting Rules and Regulations to implement the provisions of Act 541 in conformity with
the Title XI provisions. In 1993, the General Assembly approved Act 1270 which clarified
certain provisions of the initial Act and limited financial institutions' liability on
non-federally related transactions.
The Arkansas Appraiser Licensing Board is
composed of eleven members appointed by the Governor, seven of whom are practicing
appraisers, and the primary duties of this Board are to establish, maintain, and
periodically update meaningful qualification standards for state licensed and certified
appraisers practicing in Arkansas. This includes testing, reviewing work experience and
educational backgrounds that are adequate to demonstrate the applicant's knowledge and
competency of the profession. The agency is charged with maintaining a roster of the
names, addresses, phone numbers of all persons licensed and certified under Act 541 (ACS
17-51) and in accordance with Title XI of FIRREA must submit this roster annually to the
Appraisal Subcommittee. The Act also provides for the Board to promulgate rules and
regulations for handling disciplinary proceedings and to establish administrative
procedures for the setting and collection of fees necessary for operation of this Board
and to submit to the proper Federal Agency any and all fees that may be required. |
