Oregon Revised Statutes
For purposes of this chapter: “Appraisal Foundation” means the Appraisal Foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois. “Appraisal Subcommittee” means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council established pursuant to the federal Act. “Board” means the Appr…
The purposes of this chapter are to: Require that all real estate appraisals be performed in accordance with uniform standards by individuals whose competency has been demonstrated and whose professional conduct will be subject to effective supervision. Conform the law of this state to the requirements of federal law. Ensure the availability of state cert…
A person may not engage in, carry on, advertise or purport to engage in or carry on real estate appraisal activity within this state without first obtaining certification, licensure or registration as provided for in ORS 674.310. Real estate appraisal activity is the preparation, completion and issuance of an opinion as to the value on a given date or at a …
When preparing, completing or issuing an opinion about the value of real property or an interest in real property as described in ORS 674.100 (1)(b), a state licensed appraiser or state certified appraiser shall consider improvements made to the structure of any building located on the real property that make the building more energy efficient.
For the purpose of requesting a state or nationwide criminal records check under ORS 181A.195, the Appraiser Certification and Licensure Board may require the fingerprints of a person who is applying for, or holds, a license, certificate or registration, or is applying for renewal of a license, certificate or registration, that is issued by the board, or of …
The Appraiser Certification and Licensure Board shall recognize temporarily the certificate or license of an appraiser issued by another state if: The appraiser’s business is of a temporary nature; and The appraiser registers with the board.
Notwithstanding any other provision of law, any real estate appraisal that is performed in connection with a federally related transaction shall be in writing and shall be performed and completed in accordance with the appraisal standards established by the federal financial institution regulatory agency having jurisdiction over the federally related transac…
The Appraiser Certification and Licensure Board may suspend or revoke the certificate, license or registration of a state certified appraiser, a state licensed appraiser or a state registered appraiser assistant, reprimand a state certified appraiser, a state licensed appraiser or a state registered appraiser assistant, require additional education of a stat…
As used in this section, “objective basis” means a substantial objective basis for believing that, more likely than not, a violation of ORS 674.140 has occurred and a person subject to discipline under ORS 674.140 has committed the violation. Before disciplining a person under ORS 674.140, the Appraiser Certification and Licensure Board shall establish a su…
Every state certified appraiser and every state licensed appraiser shall maintain records of all real estate appraisal activity conducted by the appraiser. The records shall at all times be open for inspection by the Appraiser Certification and Licensure Board or its duly authorized representatives. The records shall be maintained by the appraiser for a peri…
If the administrator of the Appraiser Certification and Licensure Board determines that the standards, qualifications and examinations for licensing, certifying or registration of real estate appraisers of another state are substantially similar to the standards, qualifications and examinations required under this chapter and the rules adopted pursuant there…
APPRAISAL MANAGEMENT COMPANIES
As used in ORS 674.200 to 674.250: “Appraisal” means the process of developing an opinion of the value of real property in conformance with commonly accepted standards for appraisers. “Appraisal management company” means an external third party that: Oversees an appraiser panel of more than 15 appraisers in Oregon or at least 25 appraisers in the United S…
A person may not directly or indirectly engage in or attempt to engage in business as an appraisal management company or advertise or represent that the entity is an appraisal management company unless the person is: Registered as an appraisal management company with the Appraiser Certification and Licensure Board; or An appraisal management company owned …
An applicant for issuance or renewal of an appraisal management company registration shall file with the Appraiser Certification and Licensure Board a surety bond with one or more corporate sureties authorized to do business in this state, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, in the amount of $25,000…
The Appraiser Certification and Licensure Board may adopt rules establishing a procedure for auditing an appraisal management company registered under ORS 674.205 to examine the appraisal management company’s compliance with ORS 674.200 to 674.250. If an appraisal management company fails an audit, the board may impose a civil penalty under ORS 674.995. No…
An appraisal management company or an employee, controlling person or agent of an appraisal management company may not: Attempt to influence the development or reporting of an appraisal or appraisal review through coercion, extortion, collusion, compensation, inducement, intimidation, bribery or any other manner, including but not limited to: Withholding o…
Except in the case of breach of contract or substandard performance of real estate appraisal activity, an appraisal management company shall make payment to an independent contractor appraiser for the completion of an appraisal or appraisal review assignment: Within 45 days after the appraiser provides the completed appraisal report to the appraisal managem…
The Appraiser Certification and Licensure Board shall adopt rules requiring an appraisal management company to forward a complaint from a person with an interest in a real estate transaction for which an appraisal was arranged by the appraisal management company to the client that requested the appraisal. Note: See note under 674.200.
The Appraiser Certification and Licensure Board may deny registration or renewal of registration to an appraisal management company or suspend or revoke an appraisal management company registration for a violation of ORS 674.200 to 674.250, or of rules adopted by the board. Note: See note under 674.200.
Any employee of an appraisal management company who has reasonable basis to believe that an appraiser has failed to comply with the Uniform Standards of Professional Appraisal Practice, is violating the law or is otherwise engaging in unethical or unprofessional conduct, shall notify the Appraiser Certification and Licensure Board if the appraiser’s conduct …
The Appraiser Certification and Licensure Board shall adopt rules requiring an appraisal management company to provide documentation to the board showing that the appraisal management company provides training, in accordance with rules adopted by the board, to employees of the appraisal management company who: Select appraisers for an appraiser panel; Sele…
The Appraiser Certification and Licensure Board shall collect from each appraisal management company an annual registry fee in an amount determined by the Appraisal Subcommittee as set forth in federal law. The board shall establish by rule fees for appraisal management companies, including but not limited to fees for: Application for registration. Regist…
The Appraiser Certification and Licensure Board is established. The board shall operate as a semi-independent state agency subject to ORS 182.456 to 182.472 for purposes of carrying out the provisions of this chapter. The board shall consist of eight members. The members shall be appointed by the Governor and must be residents of this state. The board shall…
The Appraiser Certification and Licensure Board shall: Have the power to do all things necessary and convenient to carry into effect the provisions of this chapter, ORS 674.200 to 674.250 and the federal Act and to regulate the activities of state licensed appraisers, state certified appraisers, state registered appraiser assistants and appraisal management…
The lapsing or suspension of a certificate, license or registration by operation of law, by order of the Appraiser Certification and Licensure Board, by decision of a court of law or by the voluntary surrender of a certificate, license or registration by an appraiser or appraiser assistant does not deprive the board of jurisdiction to proceed with any invest…
The Appraiser Certification and Licensure Board shall collect from each state certified appraiser and each state licensed appraiser an annual registry fee as required by the federal Act and in an amount determined by the Appraisal Subcommittee. Except as provided in subsection (1) of this section and in addition to any fees required by subsection (1) of thi…
All moneys, fees and charges collected or received by the Appraiser Certification and Licensure Board pursuant to ORS 674.250 and 674.330 shall be paid into the account created by the board under ORS 182.470. All moneys in the account are appropriated continuously to the board to carry out the duties that the board is charged with administering. The Federal…
MISCELLANEOUS
A person engaging in or carrying on real estate appraisal activity shall not be required to make adjustments to otherwise comparable sales solely on the basis of the form of the conveyance.
A person shall not testify or otherwise present evidence regarding an appraisal or appraisal report in a proceeding under ORS 183.413 to 183.497, a circuit court action or otherwise before a lawfully established board or commission unless the person has prepared a written report on the appraisal or appraisal report prior to presenting testimony or evidence. …
The Appraiser Certification and Licensure Board may impose a civil penalty, not to exceed $500 for each violation, on a person who violates a provision of ORS 674.130 to 674.150 or a rule or final order of the board or a judgment made by a court upon application of the board. The board may impose a civil penalty on a person who violates ORS 674.100 (1) in a…
Violation of ORS 674.100 (1) is a Class A misdemeanor. An officer, director, shareholder or agent of a corporation, or member or agent of a partnership or association, who personally participates in or is an accessory to a violation of ORS 674.100 (1) by the partnership, association or corporation, is subject to subsection (1) of this section.
In accordance with ORS chapter 183, the Appraiser Certification and Licensure Board may impose a civil penalty, not to exceed $15,000 for each violation, on a person who violates a provision of ORS 674.200 to 674.250 or any rule adopted by the board under ORS 674.200 to 674.250. The civil penalty under this section is in addition to and not in lieu of any o…