36-21B-2. Definitions.
Terms used in this chapter mean:
(1) "Appraisal," the act or process of developing an opinion of value of real estate for another and for compensation;
(2) "Appraisal practice," any valuation service, including appraisal, appraisal review, or appraisal consulting, performed by a person acting as an appraiser;
(3) "Evaluation," a valuation of real estate prepared for a federally insured depository institution for a transaction that, pursuant to regulations promulgated by one or more federal financial institution regulatory agency, qualifies for the appraisal threshold exemption, business loan exemption, or subsequent transaction exemption; and
(4) "Federal financial institution regulatory agency," the Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, or Board of Governors of the Federal Reserve System.
Source: SL 1995, ch 223, § 2; SL 2013, ch 180, § 2; SL 2020, ch 164, § 1.
36-21B-2.2. Criminal background checks.
Each applicant for initial certification, licensure, or registration as a state-registered appraiser, state-licensed appraiser, state-certified residential appraiser, or state-certified general appraiser in this state shall submit to a state and federal criminal background investigation by means of fingerprint checks by the Division of Criminal Investigation and the Federal Bureau of Investigation. Upon application, the department shall submit completed fingerprint cards to the Division of Criminal Investigation. Upon completion of the criminal background check, the Division of Criminal Investigation shall forward to the department all information obtained as a result of the criminal background check. This information must be obtained prior to certification of the applicant. The department may require a state and federal criminal background check for any licensee who is the subject of a disciplinary investigation by the department. Failure to submit or cooperate with the criminal background investigation is grounds for denial of an application or may result in revocation of a license. The applicant shall pay for any fees charged for the cost of fingerprinting and the criminal background investigation.
Source: SL 2014, ch 182, § 1; SL 2021, ch 179, § 2.
36-21B-2.3. Grounds for denying issuance of certificate.
The department shall deny issuance of a certificate to any applicant who:
(1) Has had the ability to perform appraisals revoked in any governmental jurisdiction within the five year period immediately preceding the date of application;
(2) Has been convicted of, or pled guilty or nolo contendere to, a felony in a domestic or foreign court either during the five-year period immediately preceding the date of the application for certification, licensure, or registration or at any time preceding the date of application, if such felony involved an act of fraud, dishonesty, a breach of trust, or money laundering; or
(3) Has failed to demonstrate character and general fitness which commands the confidence of the community and warrants a determination that the applicant will operate honestly, fairly, and efficiently with the purposes of this chapter.
Source: SL 2014, ch 182, § 2.