§ 16-101. Definitions
West's Annotated Code of MarylandBusiness Occupations and ProfessionsEffective: October 1, 2018
Effective: October 1, 2018
MD Code, Business Occupations & Professions, § 16-101
§ 16-101. Definitions
(b)(1) “Appraisal” means an analysis, conclusion, or opinion about the nature, quality, utility, or value of interests in or aspects of identified real estate.
(d) “Central Repository” means the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services.
(e)(1) “Certificate” means, unless the context requires otherwise, a certificate issued by the Commission that allows an individual to provide certified real estate appraisal services.
(f) “Certified appraisal report” means an appraisal report prepared and signed by a certified real estate appraiser.
(g)(1) “Certified real estate appraiser” means, unless the context requires otherwise, an individual who is certified by the Commission to provide certified real estate appraisal services.
(h) “Commission” means the State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors.
(i) “Home inspection” means a written evaluation of one or more of the components of an existing residential building, including the heating system, cooling system, plumbing system, electrical system, structural components, foundation, roof, masonry structure, exterior and interior components, or any other related residential housing component.
(j) “Home inspector” means an individual who provides home inspection services for compensation.
(k) “License” means, unless the context requires otherwise, a license issued by the Commission to provide real estate appraisal services or to provide home inspection services.
(l) “Licensed home inspector” means an individual who is licensed by the Commission to provide home inspection services.
(m) “Licensed real estate appraiser” means an individual who is licensed by the Commission to provide real estate appraisal services.
(n) “Provide certified real estate appraisal services” means to provide real estate appraisal services as a certified real estate appraiser.
(o) “Provide home inspection services” means to provide home inspection services as a licensed home inspector.
(p) “Provide real estate appraisal services” means to make for consideration an appraisal of real estate or prepare or sign an appraisal report in connection with a federally related transaction, as defined in the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.1
(q)(1) “Real estate” means any interest in real property that is located in the State or elsewhere.
(r) “Real estate appraiser trainee” means an individual who is licensed by the Commission to provide real estate appraisal services while:
(s) “Supervising appraiser” means a certified residential real estate appraiser or a certified general real estate appraiser who has the responsibility of supervising one or more real estate appraiser trainees.
(t)(1) “Supervision” means the responsibility of a supervising appraiser to provide on-site direction or immediately available direction, through written instructions or by electronic means, to real estate appraiser trainees performing real estate appraisal services.
Credits
Added by Acts 1990, c. 594. Amended by Acts 1991, c. 568. Renumbered from Business Occupations and Professions § 15.5-101 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994. Amended by Acts 2000, c. 571, § 1, eff. Oct. 1, 2000; Acts 2001, c. 282, § 1, eff. Oct. 1, 2001; Acts 2001, c. 470, § 1, eff. Oct. 1, 2001; Acts 2007, c. 649, § 1, eff. Jan. 1, 2008; Acts 2012, c. 366, § 1, eff. July 1, 2012; Acts 2014, c. 79, §§ 1, 2, eff. Jan. 1, 2015; Acts 2018, c. 159, § 1, eff. Oct. 1, 2018; Acts 2018, c. 160, § 1, eff. Oct. 1, 2018.
Footnotes
Pub.L. 101-73, Aug. 9, 1989, 103 Stat. 183.
MD Code, Business Occupations & Professions, § 16-101, MD BUS OCCUP & PROF § 16-101
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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