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235.03.1-XI. Applicability

AR ADC 235.03.1-XIArkansas Administrative CodeEffective: July 10, 2020

West's Arkansas Administrative Code
Title 235. Arkansas Department of Labor and Licensing
Division 3. Arkansas Appraiser Licensing and Certification Board
Rule 1. Appraisal Management Company Rules
Effective: July 10, 2020
Ark. Admin. Code 235.03.1-XI
Formerly cited as AR ADC 151.00.2-XI
235.03.1-XI. Applicability
Currentness
A. Act 628 of 2009 clearly sets forth the following specific entities and conditions for which an appraisal management company registration is not required. These rules of registration shall not apply to:
1. An agency of the federal, state, county, or municipal government;
2. A person authorized to engage in business as a bank, farm credit system, savings institution, or credit union under the laws of the United States, the State of Arkansas, or any other state;
3. A licensed real estate broker or licensed real estate agent performing activities regulated by the Arkansas Real Estate Commission unless the licensed real estate broker or licensed real estate agent received compensation or other pecuniary gain in connection with the referral, placement, or execution of a request for appraisal services; or
4. An officer or employee of a government agency, person, licensed real estate broker, or licensed real estate agent described in this section when acting within the scope of employment of the officer or employee.
A violation of A.C.A. ยง 17-14-401 et seq. is a class D felony.

Credits

Adopted Jan. 1, 2010. Amended July 10, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 235.03.1-XI, AR ADC 235.03.1-XI
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