ENROLLED SENATEBILL NO. 1493By:Paddack of the SenateandThomsen of the HouseAn Act relating to the Oklahoma Certified Real EstateAppraisers Act; amending 59 O.S. 2011, Sections 858-708 and 858-713, which relate to the OklahomaCertified Real Estate Appraisers Act; modifying feerequirement; authorizing Real Estate Appraiser Boardto collect certain fee and promulgate certain rules;modifying language; providing procedures forcertification upgrades; requiring certain applicantmeet certain qualifications and experience forcertification upgrade; expediting certainapplications; stating considerations for initialreview; providing for automatic second review upondenial in initial review; requiring recommendationsand criteria for reapplication upon denial;authorizing Real Estate Appraiser Board to employappraisers for certain purpose; directing certainnotification to applicant upon certain condition;providing an effective date; and declaring anemergency.SUBJECT: Oklahoma Certified Real Estate Appraisers ActBE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:SECTION 1. AMENDATORY 59 O.S. 2011, Section 858-708, isamended to read as follows:Section 858-708. A. The Insurance Department shall charge andcollect fees not to exceed the following:1. Trainee Appraiser Certificate
(annually) $300.002. State Licensed AppraiserCertificate (annually)$300.003. State Certified General AppraiserCertificate (annually)$300.004. State Certified Residential AppraiserCertificate (annually) $300.005. State LicensedAppraiser Examination$150.006. State Certified General Appraiser Examination$150.007. State Certified Residential AppraiserExamination$150.008. Reexamination Fee$150.009. Late Fee $50.0010. Reinstatement Fee $50.0011. Duplicate for Lost or Destroyed Certificate $5.0012. Temporary Practice Fee Per Appraisal $50.0013. Maximum Temporary Practice Fee Per Assignment$150.00B. The Department shall charge and collect such fees as may bepromulgated by administrative rule by the Real Estate AppraiserBoard for the conduct of experience reviews required in thelicensing process.ENR. S. B. NO. 1493Page 2
C. The Department shall charge and collect such fees as may bepromulgated by administrative rule by the Real Estate AppraiserBoard for review of submissions by course providers and instructors.D. The Insurance Department shall charge and collect a FederalRegistry Fee of Twenty-five Dollars ($25.00) for all All statelicensed, state certified residential, and state certified generalappraisers shall be responsible for payment of all Federal RegistryFees. Said fee shall be transmitted The Real Estate Appraiser Boardshall promulgate rules to assist appraisers in meeting therequirements of the Appraisal Subcommittee of the Federal FinancialInstitutions Examination Council.SECTION 2. AMENDATORY 59 O.S. 2011, Section 858-713, isamended to read as follows:Section 858-713. A. An original certification as a statecertified general or a state certified residential or state licensedappraiser shall not be issued to any person who does not possess theequivalent of the minimum requirements of experience promulgated bythe Appraisal Appraiser Qualifications Board of the AppraisalFoundation in real property appraisal supported by adequate writtenreports or file memoranda. Provided, there shall be no experiencerequirement shall be required for a trainee appraiser. Provided,any state licensed appraiser who becomes state licensed prior toJuly 1, 2001, shall not be required to attain the minimumrequirements of experience promulgated by the AppraiserQualifications Board to maintain certification as a state licensedappraiser.B. Each applicant for certification as a state certifiedgeneral or a state certified residential or state licensed appraisershall furnish under oath a detailed listing of the real estateappraisal reports or file memoranda for each year for whichexperience is claimed by the applicant. Upon request, the applicantshall make available to the Real Estate Appraiser Board forexamination, a sample of appraisal reports which the applicant hasprepared in the course of that applicant's appraisal practice.C. Each applicant for a certification upgrade to a statecertified general or a state certified residential or state licensedappraiser shall be required to meet the prerequisites for theENR. S. B. NO. 1493Page 3
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