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235.03.2-VIII. Criteria Applicable to a State Registered Real Property Appraiser Credential

AR ADC 235.03.2-VIIIArkansas Administrative CodeEffective: February 5, 2024

West's Arkansas Administrative Code
Title 235. Arkansas Department of Labor and Licensing
Division 3. Arkansas Appraiser Licensing and Certification Board
Rule 2. Arkansas Appraiser Licensing and Certification Board Rules
Effective: February 5, 2024
Ark. Admin. Code 235.03.2-VIII
235.03.2-VIII. Criteria Applicable to a State Registered Real Property Appraiser Credential
Currentness
A. General
Please consult Section III -- General Examination and Experience Criteria for additional requirements.
1. The State Registered Appraiser classification qualifies the appraiser to perform appraisals on any type of property except when the purpose of the appraisal is for use in federally related transactions.
2. As a part of the application, the applicant must sign an affidavit, attesting to having read and an understanding of the current edition of the Uniform Standards of Professional Appraisal Practice, the applicable State Laws and the Rules governing appraisal practice in Arkansas.
3. As a part of the application, the State Registered Appraiser shall complete an approved four-hour course that, at minimum, complies with the specifications for a trainee/supervisor course content as established by the Appraiser Qualifications Board (AQB) and the Board.
4. All State Registered Appraisers must comply with the Competency Rule of USPAP for all assignments.
B. Examination
1. There is no examination requirement for the State Registered Appraiser classification, but the State Registered Appraiser shall pass the appropriate end-of-course examinations in all of the prerequisite qualifying education courses in order to earn credit for those courses.
C. Qualifying Education
1. As the prerequisite for application, an applicant must have completed seventy-nine (79) hours of qualifying education as listed below. Additionally, applicants must pass the course examinations and pass the 15-Hour National USPAP Course, or its AQB-approved equivalent and the examination as a part of the 79 hours. All qualifying education must be completed within the five (5) year period immediately preceding the date of application for a State Registered Appraiser credential. The required courses are:
Basic Appraisal Principles
30 Hours
Basic Appraisal Procedures
30 Hours
15-Hour National USPAP Course (or its equivalent)
15 Hours
Supervisory Appraiser/Trainee Appraiser Course
4 Hours
Section IX -- Non-Resident Registration and/or Licensing: Reciprocity
“Reciprocity” is a type of appraiser credential which allows an appraiser from another jurisdiction to complete an appraisal assignment in this State. A reciprocal credential is issued to qualified applicants for a period not to exceed twelve (12) months from the date of issuance. Only nonresident licensed or certified appraisers may apply for reciprocity. A reciprocal credential may be renewed each year.
Reciprocity Appraiser Requirements
A. A non-resident appraiser planning to develop an appraisal assignment in Arkansas for a federally related transaction must first apply for a state license or certification. In the case of a non-federally related transaction, the appraiser shall apply to be registered, licensed, or certified in advance of initiating the appraisal assignment as a non-resident appraiser. Only non-resident licensed or certified appraisers may apply for Reciprocity.
Non-Resident appraisers applying for state registered appraiser or registered apprentice appraiser status shall, in addition to meeting the same requirements and utilizing the same forms as those required for Arkansas residents, include a notarized Consent for Service of Legal Process affidavit.
B. Reciprocity may be obtained by non-residents of this State through recognition of another jurisdiction's program of licensing and certification in accordance with A. C. A. § 17-14-306.
1. A person licensed or certified as a real property appraiser by another jurisdiction may register with the Board to qualify to appraise real property in Arkansas if:
a. The Reciprocal applicant is currently in good standing as an appraiser in every jurisdiction where he/she is credentialed. The appraiser's National Registry information found on the Appraisal Subcommittee's website may be used in determining the appraiser's licensing and disciplinary history.
b. The applicants background meets Board's qualifications. A new Reciprocal applicant or a Reciprocal applicant whose credential has been inactive for more than twelve (12) months must submit to a state criminal record check conducted by the Arkansas State Police and a nationwide criminal record check conducted by the Federal Bureau of Investigation, including the taking of fingerprints.
C. A person wishing to be credentialed under this section must:
1. Submit an application for a Reciprocal credential on a form approved by the Board, found on the Board's website;
2. Submit an irrevocable consent to service of process in this State on a form approved by the Board, found on the Board's website;
3. Pay the required fees; and
4. Provide all supporting documentation or information requested by the Board in connection with the application for reciprocity.
D. The term of a Reciprocal credential shall be for no more than twelve (12) months. Renewal may be accomplished by submitting evidence of the completion of fourteen (14) hours of continuing education, a renewal form, and the appropriate fees. The appraiser's National Registry information found on the Appraisal Subcommittee's website may be used in determining the appraiser's licensing and disciplinary history.

Credits

Adopted Oct. 2, 2020. Amended Feb. 5, 2024.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 235.03.2-VIII, AR ADC 235.03.2-VIII
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