Not an Official Version
Not an Official Version
310-B:1 Purpose. – The purpose of this chapter
is to bring
310-B:2 Definitions. – In this chapter:
II. "Appraisal report'' or "real estate appraisal report''
means a written statement prepared by a licensed or certified appraiser, whether
or not used in connection with a federally-related transaction under the
Financial Institutions Reform, Recovery, and Enforcement Act of 1989, setting
forth an opinion of defined value of an adequately described property as of a
specific date, supported by the presentation and analysis of relevant market
information. Nothing in this paragraph shall be interpreted to affect the right
of any person to provide services under
III. "Appraisal assignment'' means an engagement for which an
appraiser is employed or retained to act, or would be perceived by third parties
or the public as acting, as a disinterested third party in rendering an unbiased
analysis, opinion, or conclusion relating to the nature, quality, value, or
utility or specified interests in, or aspects of, identified real estate.
IV. "Appraisal Foundation'' means the Appraisal Foundation
incorporated as an
(a) To establish and improve uniform
appraisal standards by defining, issuing and promoting such standards.
(b) To establish appropriate criteria for
the certification, licensing, relicensing, and recertification of qualified
appraisers by defining, issuing and promoting such qualification criteria; and
to disseminate such qualification criteria to states, governmental entities and
others.
(c) To develop or assist in the development
of appropriate examinations for qualified appraisers.
V. [Repealed.]
VI. "Board'' means the real estate appraiser board
established pursuant to the provisions of this chapter.
VIII. "Certified residential real estate appraiser,''
"certified general real estate appraiser,'' or "licensed residential real estate
appraiser'' means a New Hampshire state certified or licensed appraiser who
develops and communicates real estate appraisals and who holds a valid
certificate or license issued for either general or residential real estate
appraising under the provisions of this chapter.
IX. "Federally-related transaction'' means any transaction
which:
(a) A federal financial institution's
regulatory agency or the Resolution Trust Corporation engages in, contracts for,
or regulates; and
(b) Requires the services of an appraiser.
X. “Federal financial institutions regulatory agencies” means the
Board of Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, the Office of the Comptroller of
the Currency, the Office of Thrift Supervision, and the National Credit Union
Administration.
XI. "Financial institution'' means an insured depository
institution as defined is section 1813 of Title XI of the Financial Institutions
Reform, Recovery and Enforcement Act of 1989 or an insured credit union as
defined in section 1752 of such title.
XII. "Real estate'' means an identified parcel or tract of
land, including improvements, if any.
XIII. "Real estate related financial transaction'' means any
transaction involving:
(a) The sale, lease, purchase, investment
in or exchange of real property, including interests in property, or the
financing thereof;
(b) The refinancing of real property or
interests in real property; and
(c) The use of real property or interests
in property as security for a loan or investment, including mortgage-backed
securities.
XIV. "Real property'' means one or more defined interests,
benefits, and rights inherent in the ownership of real estate.
XV. "Valuation'' means an estimate of the value of real
estate or real property.
XVI. “Appraisal” means the practice of developing an
opinion of the value of real property in conformance with the Uniform Standards
for Professional Appraisal Practice as developed by the Appraisal Foundation.
XVII. “Appraisal management company” means, in connection
with valuing properties collateralizing mortgage loans or mortgages incorporated
into a securitization, any external third party authorized either by a creditor
of a consumer credit transaction secured by a consumer’s principal dwelling or
by an underwriter of, or other principal in, the secondary mortgage markets:
(a) To recruit, select, and retain appraisers;
(b) To contract with licensed and certified appraisers to
perform appraisal assignments;
(c) To manage the process of having an appraisal performed,
including providing administrative duties such as receiving appraisal orders and
appraisal reports, submitting completed appraisal reports to creditors and
underwriters, collecting fees from creditors and underwriters for services
provided, and reimbursing appraisers for services performed; or
(d) To review and verify the work of appraisers.
XVIII. “Appraisal review” means the act or process of
developing and communicating an opinion about the quality of another appraiser’s
work that was performed as part of an appraisal assignment, except that a
quality control examination of an appraisal report shall not be an appraisal
review.
XIX. “Appraiser” means an individual who holds a license
or certification as an appraiser and is expected to perform valuation services
competently and in a manner that is independent, impartial, and objective.
XX “Appraiser panel” means a group of licensed or
certified independent appraisers that have been selected to perform appraisal
services for a third party.
XXI. “Controlling person” means:
(a) An officer director, or owner of greater than a 10 percent
interest, of a corporation, partnership or other business entity, seeking to act
as an appraisal management company in this state; or
(b) An individual employed, appointed, or authorized by an
appraisal management company that has the authority to enter into a contractual
relationship with other persons for the performance of services requiring
registration as an appraisal management company and has the authority to enter
into agreements with appraisers for the performance of appraisals; or
(c) An individual who possesses, directly or indirectly, the
power to direct or cause the direction of the management or policies of an
appraisal management company.
XXII. “Person” means an individual, firm, partnership,
limited partnership, limited liability company, association, corporation, or
other group engaged in joint business activities, however organized.
XXIII. “Quality control examination” means an examination
of an appraisal report for compliance and completeness including grammatical,
typographical, or other similar errors.
XXIV. “Uniform Standards of Professional Appraisal
Practice” (USPAP) means the current standards of the appraisal profession,
developed for appraisers and users of appraisal services by the Appraisal
Standards Board of the Appraisal Foundation.
310-B:3 Licensure and Certification Use. –
I. No person, other than a certified or licensed real estate
appraiser, shall assume or use that title or any title, designation, or
abbreviation likely to create the impression of certification or licensure as a
real estate appraiser by this state. A person who is not certified or licensed
pursuant to this chapter shall not describe or refer to any appraisal or other
evaluation or real estate located in this state by the term "certified'' or
"licensed.''
II. Paragraph I shall not preclude a person who is not
certified or licensed as a real estate appraiser from appraising real estate for
non-federally related transactions for compensation.
III. The provisions of this chapter shall not apply to an
employee, or an elected or appointed representative of a municipality, or a
person under contract by a municipality doing valuation for the sole purpose of
ad valorem taxation.
IV. The provisions of this chapter shall not apply to a real
estate licensee under
310-B:3-a Penalty for Unlicensed Practice. – Any
person who shall practice or attempt to practice as a licensed or certified real
estate appraiser in this state without a license shall be guilty of a class A
misdemeanor if a natural person, or guilty of a felony if any other person.
310-B:4 Real Estate Appraiser Board. –
I. There is established an independent real estate appraiser
board which shall be administratively attached to the department of state. The
board shall be composed of the following 7 members, appointed by the governor
with the consent of council:
(a) Three real estate appraisers with a
minimum of 5 years' experience, consisting of one New Hampshire certified
residential appraiser, one New Hampshire certified general appraiser, and one
New Hampshire certified appraiser who is a broker licensed under
(b) One representative from a
(c) The banking commissioner or designee.
(d) Two members of the general public not
associated directly or indirectly with banking, brokerage, real estate
appraisal, insurance, or any other affected industry.
II. All appointments shall be made within 90 days after the
effective date of this chapter.
III. On or before
IV. The term of each member shall be 3 years, except that, of
the members first appointed, 3 shall serve for 3 years, 2 shall serve for 2
years, and 2 shall serve for one year.
V. Upon expiration of their terms, members of the board shall
continue to hold office until the appointment and qualification of their
successors. No person, except the commissioner or designee, shall serve as a
member of the board for more than 2 consecutive terms. The appointing authority
may remove a member for cause.
VI. The board shall meet at least once each calendar quarter
to conduct its business and more often on call of the chair, or when the chair
is requested to do so by 4 or more members of the board. The action of the
majority of the members of the board present and voting shall be deemed the
action of the board, and at least 4 members shall be present and voting on every
vote of the board. Places of future meetings shall be decided by the vote of
members at meetings or, in the event of a special meeting, by the chair. Written
notice shall be given by the chair to each member of the time and place of each
meeting of the board at least 10 days in advance.
VIII. No board member shall be entitled to a per diem
allowance. Board members shall be reimbursed for actual travel in the
performance of official duties at the usual state employee rate.
IX. The members of the board shall be immune from any civil
action or criminal prosecution for actions taken in their capacity as members of
the board, provided that such action is taken in good faith and in the
reasonable belief that the action was taken pursuant to the powers and duties of
the board under this chapter.
X. All administrative, clerical, and business processing
functions of the board shall be transferred to the joint board of licensure and
certification, established in
310-B:5 Licensure or Certification Process. –
I. Applications for original license or certification,
renewal license or certification and examinations shall be made in writing to
the board on forms approved by the board.
II. Appropriate fees, as fixed by the board under rules established pursuant
to
III. At the time of filing an application for certification
or licensure, each applicant shall sign a pledge to comply with the standards
set forth in this chapter and state that he understands the types of misconduct
for which disciplinary proceedings may be initiated against a certified or
licensed real estate appraiser, as set forth in this chapter.
310-B:5-a Prohibited Conduct. – A person
licensed or certified by the board under this chapter, shall, after a hearing,
be subject to disciplinary action as provided in
310-B:6 Classes of Licensure or
Certification.
I. There shall be the following classifications of real
estate appraisers which shall meet the criteria as the board shall require by
rules adopted under
(a) Apprentice. The apprentice real estate appraiser
classification shall consist of those persons who do not meet the requirements
under subparagraph (b), (c), or (d), but are in the process of completing the
requirements for one of the classifications of a real estate appraiser.
Apprentice real estate appraisers shall be required to work under the
supervision of a
(b) Licensed residential real estate appraiser.
(c) Certified residential real estate appraiser.
(d) Certified general real estate appraiser.
II. The application for original licensure or
certification, or renewal licensure or certification shall specify the
classification of licensure or certification being applied for or previously
granted.
310-B:7 Examination Requirements. – An original
license or certification as a licensed or certified real estate appraiser may be
issued to any person who has demonstrated through a proctored written
examination process that he or she meets the minimum requirements of the
Appraisal Foundation.
310-B:8 Examination Prerequisites. –
I. As prerequisites to taking the examination for
certification as a certified general real estate appraiser, an applicant shall
present evidence, satisfactory to the board, of having completed the required
classroom hours in subjects related to real estate appraisal, including
instruction related to the Uniform Standards of Professional Appraisal Practice,
from an educational source approved by the board.
II. As prerequisites to taking the examination for
certification as a certified residential real estate appraiser, an applicant
shall present evidence, satisfactory to the board, of having completed the
required classroom hours in subjects related to real estate appraisal, including
instruction related to the Uniform Standards of Professional Appraisal Practice,
from an educational source approved by the board.
III. As prerequisites to taking the examination for licensure
as a licensed residential real estate appraiser, an applicant shall present
evidence, satisfactory to the board, of having completed the required classroom
hours in subjects related to real estate appraisal, including instruction
related to the Uniform Standards of Professional Appraisal Practice, from an
educational source approved by the board.
310-B:9 Experience Requirements.
I. An applicant for
original licensure or certification as a licensed or certified real estate
appraiser shall possess such experience as the board shall require by rules
adopted under
II. Each applicant
for license or certification shall furnish a signed, detailed listing of the real estate appraisal reports or
file memoranda for each year for which experience is claimed by the applicant.
Upon request, the applicant shall make available to the board for examination a
sample of appraisal reports which the applicant has prepared in the course of
his or her appraisal practice.
310-B:10 Term of Licensure or Certification.
All initial licenses or certificates issued by
the board shall expire on the last day of the month of the holder’s birth in the
year 2 years following the year of issuance. The
renewal
term of a license or certificate issued under the authority of this
chapter shall be 2 years from the date of issuance, and shall expire on the last day of the month of
the license or certificate holder’s birth. The expiration date of the
license or certificate shall appear on the license or certificate and notice of
its expiration shall be given to its holder.
310-B:11 Nonresident Licensure or Certification. –
I. Every nonresident applicant for licensure or certification
under this chapter shall submit, with the application for licensure or
certification, an irrevocable consent that service of process upon him may be
made by delivery of the process to the secretary of state if, in an action
against the applicant in a court of this state arising out of the applicant's
activities as a licensed or certified real estate appraiser, the plaintiff
cannot, in the exercise of due diligence, effect personal service upon the
applicant.
II. A nonresident who has complied with paragraph I may
obtain a license or certificate as a licensed or certified real estate appraiser
by conforming to all of the provisions of this chapter relating to licensed or
certified real estate appraisers.
310-B:12 Nonresident Licensure or Certification by Reciprocity. – If, in the determination by the board, another state grants reciprocity to residents of this state and is deemed to have substantially equivalent state licensed or certification requirements, equal to or exceeding those of this state, an applicant who is licensed or certified under the laws of such other state may obtain a license or certificate as a licensed or certified real estate appraiser in this state upon such terms and conditions as may be determined by the board.
310-B:12-a Temporary Practice. – After
application and payment of fee, the board shall issue a temporary license or
certificate to an individual who is either licensed or certified in another
jurisdiction if the application complies with rules adopted by the board
pursuant to
310-B:12-b Registration of Appraisal Management Companies.
I. It is unlawful
for a person to directly or indirectly engage in or attempt to engage in
business as an appraisal management company or to advertise or hold itself out
as engaging in or conducting business as an appraisal management company in this
state without first obtaining a registration issued by the board under the
provisions of this chapter.
(a) An applicant for registration as an appraisal management
company in this state shall submit to the board an application on a form or
forms prescribed by the board.
(b) In the event a registration process is unavailable upon the effective date of this chapter, an appraisal management company already conducting business in this state may continue to conduct business in accordance with this chapter until the 120th day after a registration process becomes available.
II. An application for the registration required by paragraph I of
this section shall include the following information:
(a) Name of the person seeking registration and the fictitious
name or names (if any) under which it does business in any state;
(b) Business address of the person seeking registration;
(c) Phone contact information of the person seeking
registration;
(d) If the person is not a corporation that is domiciled in
this state, the name and contact information for the company’s agent for service
of process in this state;
(e) The name, address, and contact information for any
individual or any corporation, partnership, or other business entity that owns
10 percent or more of the appraisal management company;
(f) The name, address, and contact information for one
controlling person designated as the main contact for all communication between
the appraisal management company and the board;
(g) A certification that the person has a system and process
in place to verify that an individual being added to the appraiser panel of the
appraisal management company holds a license in good standing in this state
under this chapter if a license or certification is required to perform
appraisals;
(h) A certification that the person requires appraisers
completing appraisals at its request to comply with the Uniform Standards of
Professional Appraisal Practice (USPAP) including the requirements for
geographic and product competence;
(i) A certification that the person has a system in place to
verify that only licensed or certified appraisers are used for federally related
transactions;
(j) A certification that the person has a system in place to
require that appraisals are conducted independently and free from inappropriate
influence and coercion as required by the appraisal independence standards
established under section 129E of the Truth in Lending Act, including the
requirement that fee appraisers be compensated at a customary and reasonable
rate when the appraisal management company is providing services for a consumer
credit transaction secured by the principal dwelling of a consumer;
(k) A certification that the person maintains a detailed
record of each service request that it receives and the appraiser that performs
the residential real estate appraisal services for the appraisal management
company;
(l) An irrevocable uniform consent to service of process,
pursuant to
(m) Any other information required by the board which is
reasonably necessary to implement this chapter.
III. An application for the renewal of a registration shall include substantially similar information required for the initial registration as noted in paragraph II, as determined by the board.
IV. A registration granted by the board pursuant to this
chapter shall be valid for one year from the date on which it is issued.
310-B:12-c Appraisal Management Company Exemptions.
I. The provisions of
this chapter shall not apply to an appraisal management company that is a
subsidiary owned and controlled by a financial institution regulated by a
federal financial institutions regulatory agency.
II. The provisions
of this chapter shall not apply to a business entity that exclusively engages
real estate appraisers on an employer and employee basis or on a subcontractor
basis for the performance of all real property appraisal services in the normal
course of its business, except to the extent federal law or regulation requires
such entities to register with and be subject to supervision by a state
appraiser certifying and licensing agency.
310-B:12-d Appraisal Management Company Consent to Service of Process.
Each person applying for a registration as an appraisal management company
that is not domiciled in this state shall complete an irrevocable uniform
consent to service of process, as prescribed by the board.
310-B:12-e Appraisal Management Company Fee.
I. The board shall establish by rule or regulation a
processing fee to be paid by each appraisal management company seeking
registration under this chapter that is sufficient for the administration of the
registration process.
II. A similar processing fee may be charged by the board
in connection with the renewal of any registrations.
310-B:12-f Appraisal Management Company Owner Requirements.
I. An appraisal management company applying for registration in
this state shall not:
(a) Be owned by any person who has had an appraiser license or
certificate in this state or in any other state, refused, denied, cancelled,
surrendered in lieu of revocation, or revoked, unless such license or
certificate was subsequently granted or reinstated;
(b) Be more than 10 percent owned by a person who is not of
good moral character, which for purposes of this section shall require that such
person has not been convicted of, or entered a plea of nolo contendere to, a
felony relating to the practice of appraisal, banking, mortgage lending or the
provision of financial services, or any crime involving fraud, misrepresentation
or moral turpitude.
II. For purposes of
subparagraph I(b), each owner of more than 10 percent of an appraisal management
company shall submit to a background investigation to be carried out by a law
enforcement agency or other entity authorized by the board.
310-B:12-g Appraisal Management Company Designated Contact. Each
appraisal management company applying to the board for registration in this
state shall designate one controlling person who is an employee of the appraisal
management company that will be the designated contact for all communication
between the board and the appraisal management company.
310-B:12-h Appraisal Management Company Appraiser Credentials.
I. An appraisal management company that applies to the
board for a registration to do business in this state as an appraisal management
company shall not:
(a) Knowingly employ any individual to perform appraisal
services, who has had a license or certificate to act as an appraiser in this
state or in any other state, refused, denied, cancelled, surrendered in lieu of
revocation, or revoked, unless such license or certificate was subsequently
granted or reinstated;
(b) Knowingly enter into any independent contractor
arrangement for the performance of appraisal services, in verbal, written, or
other form, with any individual who has had a license or certificate to act as
an appraiser in this state or in any other state, refused, denied, cancelled,
surrendered in lieu of revocation, or revoked, unless such license or
certificate was subsequently granted or reinstated.
II. Prior to assigning appraisal orders, an appraisal
management company shall have a system in place to verify that a person being
added to the appraiser panel holds the appropriate appraiser credential in good
standing.
III. Each appraisal management company seeking to be
registered in this state shall certify to the board on an annual basis on a form
prescribed by the board that the appraisal management company has systems in
place to verify that:
(a) An individual on the appraiser panel has not had a license
or certification as an appraiser refused, denied, cancelled, revoked, or
surrendered in lieu of a pending revocation in the previous 12 months, unless
such license or certificate was subsequently granted or reinstated; and
(b) Only licensed or certified appraisers are used to complete
appraisal assignments in connection with federally related transactions.
310-B:12-i Appraisal
Management Company; Appraisal Review. Any employee of, or independent
contractor to, an appraisal management company that performs a USPAP Standard 3
review of an appraisal report on property located in this state shall be an
appraiser with the proper level of licensure issued by the board. Quality
control examinations are exempt from this requirement as they are not considered
a Standard 3 review.
310-B:12-j Appraisal
Management Company; Adherence to Standards.
I. Each appraisal management company seeking to be
registered in this state shall certify to the board on an annual basis that it
requires appraisers completing appraisals at its request to comply with the
Uniform Standards of Professional Appraisal Practice including the requirements
for geographic and product competence.
II. Each appraisal management company seeking to be
registered in this state shall certify to the board on an annual basis that it
has a system in place to require that appraisals are conducted independently and
free from inappropriate influence and coercion as required by the appraisal
independence standards established under section 129E of the Truth in Lending
Act, including the requirement that fee appraisers be compensated at a customary
and reasonable rate when the appraisal management company is providing services
for a consumer credit transaction secured by the principal dwelling of a
consumer.
III. An appraisal management company shall not prohibit an
appraiser from reporting the fee paid to the appraiser in the body of the
appraisal report, however an appraisal management company may require an
appraiser to present any such disclosure in a specified format and location.
310-B:12-k Appraisal Management Company; Recordkeeping. Each
appraisal management company seeking to be registered in this state shall
certify to the board on an annual basis that it maintains a detailed record of
each service request that it receives and the appraiser that performs the
appraisal for the appraisal management company. Such records must be retained
for a period of at least 5 years after an appraisal is completed or 2 years
after final disposition of a judicial proceeding related to the assignment,
whichever period expires later.
310-B:12-l Appraisal Management Company; Appraisal Reports.
I. An appraisal management company may not alter, modify,
or otherwise change a completed appraisal report submitted by an appraiser
without the appraiser’s written consent, except as necessary to comply with
regulatory mandates or legal requirements.
II. An appraisal management company may not use an
appraisal report submitted by an independent appraiser, or any of the data or
information contained therein, for any purpose other than its intended use
without the appraiser’s or the intended end user’s written consent.
310-B:12-m Appraisal Management Company; Registration Number.
I. The board shall issue a unique registration number to
each appraisal management company registered in this state pursuant to this
chapter.
II. The board shall maintain a list of the appraisal
management companies registered in this state and the registration numbers
assigned to such persons.
III. An appraisal management company registered in this
state shall disclose the registration number provided to it by the board on the
engagement documents presented to an appraiser.
310-B:12-n Appraisal Management Company; Unlawful Acts.
I. It shall be a violation of this chapter for any
employee, partner, director, officer, or agent of an appraisal management
company to:
(a) Influence or attempt to influence the development,
reporting, result, or review of an appraisal through coercion, extortion,
collusion, compensation, inducement, intimidation, bribery or in any other
manner, including but not limited to:
(1) Withholding or threatening to withhold timely payment or
partial payment for an appraisal with the exception of a substandard or
noncompliant appraisal;
(2) Withholding or threatening to withhold future business
from an appraiser, or demoting, terminating or threatening to demote or
terminate an appraiser;
(3) Promising or implying that an appraiser may be given
opportunities for future business, promotions, or increased compensation;
(4) Conditioning an assignment of an appraisal or the payment
of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation
to be reached, or on a preliminary estimate or opinion requested from an
appraiser;
(5) Requesting that an appraiser provide an estimated,
predetermined, or desired valuation in an appraisal, or provide estimated values
or comparable sales at any time prior to the appraiser’s completion of an
appraisal;
(6) Providing to an appraiser an anticipated, estimated,
encouraged, or desired value for a subject property or a proposed or target
amount to be loaned to the borrower, except that a copy of the sales contract
for purchase transactions may be provided; and
(7) Requiring an appraiser to prepare an appraisal report if
the appraiser has indicated to the appraisal management company that he or she
does not have the necessary expertise for the specific geographic area.
(b) Require an appraiser to indemnify the appraisal management
company against liability, damages, losses, or claims other than those
liabilities, damages, losses or claims arising out of the services performed by
the appraiser, including performance or non-performance of the appraiser’s
duties and obligations, whether as a result of negligence or willful misconduct.
(c) Submit or attempt to submit false, misleading, or
inaccurate information in any application for registration or renewal.
(d) Fail to timely respond to any subpoena or any other
legally-binding request for information;
(e) Fail to timely obey a lawful administrative order of the
board; or
(f) Fail to fully cooperate in any board investigation.
II. Notwithstanding any other provision in this chapter,
an appraisal management company shall not be prohibited from requesting that an
appraiser:
(a) Consider additional appropriate property information;
(b) Provide additional information concerning the basis for an
evaluation; or
(c) Correct objective factual errors in an appraisal report.
310-B:12-o
Appraisal Management Company; Mandatory Reporting. An appraisal management
company that has a reasonable basis to believe an appraiser has failed to comply
with applicable laws, the Uniform Standards of Professional Appraisal Practice
or other ethical or professional requirements in connection with a consumer
credit transaction secured by a consumer’s principal dwelling, shall refer the
matter to the board if the failure to comply is material. For purposes of this
section, a failure to comply is material if it is likely to significantly affect
the value assigned to the consumer’s principal dwelling.
310-B:13 Renewal of License or Certificate. –
I. (a) To obtain a renewal license or certificate as a
licensed or certified real estate appraiser, the holder of a current, valid
license or certificate shall make application and pay the prescribed fee to the
board not earlier than 120 days nor later than 30 days before the expiration
date of the license or certificate then held. With the application for renewal,
the licensed or certified real estate appraiser shall present evidence in the
form prescribed by the board of having completed the continuing education
requirements for renewal specified in this chapter.
(b) If the board determined that an
applicant has failed to meet the requirements for renewal of licensure or
certification through mistake, misunderstanding, or circumstances beyond the
control of the applicant, the board may extend the term of the certificate for a
period not to exceed 6 months, upon payment by the applicant of a prescribe fee
for the extension.
(c) If the applicant satisfies the
requirements for renewal during the extended term of licensure or certification,
the beginning date of the new renewal license or certificate shall be the day
following the expiration of the license or certificate previously held by the
applicant.
II. [Repealed.]
310-B:13-a Lapse of License. –
I. If a license is not renewed before the expiration date,
then the license is deemed to have expired, and a licensee may renew an expired
license up to 6 months after its expiration date by complying with the
requirements of
II. If an expired license is not renewed within 6 months
under paragraph I, then the license is deemed to have lapsed and such person may
obtain a license only by qualifying anew as an original applicant. However, the
board may renew a lapsed license for good cause shown within a reasonable time
not to exceed one year from the date of expiration.
III. If a license expires or lapses as a result of a person
being ordered to active duty with the armed forces, the 6-month time period for
complying with the requirement of
IV. The rights of the
licensee under such expired or lapsed license shall be terminated. It shall be
unlawful to act or attempt or offer to act in any matter as a real estate
appraiser apprentice
completing the requirements for licensure or certification, or
as
a licensed or certified appraiser,
under an expired or lapsed license.
310-B:14 Continuing Education. –
I. As a prerequisite to renewal of licensure or
certification, a licensed or certified real estate appraiser shall present
evidence satisfactory to the board of having met the continuing education
requirements for this chapter.
II. The basic
continuing education requirement for renewal of licensure or certification shall
be the completion by the applicant, during the immediately preceding term of
licensure or certification, of those courses and programs required by the board
by rules adopted under
III. In lieu of meeting the requirements
of paragraph II, an applicant for relicensing or recertification may satisfy all
or part of the requirements by presenting evidence of the following:
(a) Completion of an educational program of
study determined by the board to be equivalent, for continuing educations
purposes, to courses approved by the board under paragraph II.
(b) Participation other than as a student
in educational processes and programs approved by the board which relate to real
property appraisal theory, practices or techniques, including, but not
necessarily limited to, teaching, program development and preparation of
textbooks, monographs, articles, and other instructional materials.
IV. The board shall give favorable consideration to courses
of instruction, seminars, and other real property appraisal educational courses
or programs previously or hereafter developed by or under the auspices of
professional appraisal organizations or other approved educational resources.
V. No amendment or repeal of a rule adopted by the board
relative to this section shall operate to deprive a licensed or certified real
estate appraiser of credit toward renewal of licensure or certification for any
course of instruction completed by the applicant prior to the amendment or
repeal of the rule which would have qualified for continuing education credit
under the rule as it existed prior to the repeal or amendment.
VI. Licensure or certification as a licensed or certified
real estate appraiser that has been revoked as a result of disciplinary action
by the board shall not be reinstated unless the applicant presents evidence of
completion of the continuing education required by this chapter. This
requirement of evidence of continuing education shall not be imposed upon an
applicant for reinstatement who has been required to successfully complete the
examination for licensed or certified real estate appraiser as a condition to
reinstatement of licensure or certification.
310-B:
I. Each licensed or certified real estate appraiser shall
advise the board of the address of his principal place of business and all other
addresses at which he is currently engaged in the business of preparing real
estate appraisal reports.
II. Whenever a licensed or certified real estate appraiser
changes a place of business, he shall, within 10 days of such change, give
written notification of the change to the board and apply for an amended license
or certificate.
III. Every licensed or certified real estate appraiser shall notify the board
of his or her current residence address
and electronic address. Residence
addresses and
electronic addresses on file with the board are exempt from disclosure as
public records.
310-B:16 License or Certificate. –
I. A license or certificate issued under authority of this
chapter shall bear the signature of the board chairperson or a designee who is a
member of the board and a license or certificate number assigned by the board.
II. Each licensed or certified real estate appraiser shall
place such appraiser's license or certificate number adjacent to or immediately
below the appraiser's signature whenever the appraiser's signature is used in an
appraisal report or in a contract or other instrument used by the license or
certificate holder in conducting real estate appraisal activities.
I. The board shall adopt rules
under
(a) Register with the board by each January 1 and be subject
to supervision by the
(b) Verify that only licensed or certified appraisers are used
for federally related transactions;
(c) Comply with the Uniform Standards of Professional
Appraisal Practice in coordinating appraisals; and
(d) Conduct appraisals independently and free from
inappropriate influence and coercion pursuant to the appraisal independence
standards established under section 129E of the federal Truth in Lending Act.
II. An appraisal
management company shall not be registered by the board or included on the
national registry if such company, in whole or in part, directly or indirectly,
is owned by any person who has had an appraiser license or certificate refused,
denied, cancelled, surrendered in lieu of revocation, or revoked in any state.
Additionally, each person that owns more than 10 percent of an appraisal
management company shall be of good moral character, as determined by the board,
and shall submit to a background investigation carried out by the board.
III. The board shall
adhere to regulations for the reporting of the activities of appraisal
management companies to the Appraisal Subcommittee in determining the payment of
the annual registry fee.
IV. The requirements
of this section shall take effect to appraisal management companies beginning
the later of:
(a)
(b) 120 days after the first date on which all rules, forms
and policies necessary to implement this chapter have been finalized and made
available by the board. No unregistered appraisal management company may perform
services related to a federally related transaction in the
310-B:17 Use of Term. –
I. The term "licensed real estate appraiser'' or "certified
real estate appraiser'' may only be used to refer to individuals who hold the
license or certificate and may not be used following or immediately in
connection with the names or signature of a firm, partnership, corporation, or
group; or in such manner that it might be interpreted as referring to a firm,
partnership, corporation, group, or anyone other than an individual holder of
the license or certificate.
II. No license or certificate shall be issued under the
provisions of this chapter to a corporation, partnership, firm or group. This
shall not be construed to prevent a licensed or certified real estate appraiser
from signing an appraisal report on behalf of a corporation, partnership, firm
or group practice.
310-B:17-a –
[Repealed]
310-B:17-b –
[Repealed]
310-B:18 Disciplinary Proceedings.
I. The board may
undertake disciplinary proceedings:
(a) Upon its own initiative; or
(b) Upon written complaint of any person which charges that a person licensed or certified by the board has committed misconduct under paragraph II and which specifies the grounds therefor.
II. Misconduct sufficient to support disciplinary proceedings
under this section shall include:
(a) Procuring or attempting to procure a license or
certificate pursuant to this chapter by knowingly making a false statement,
submitting false information, refusing to provide complete information in
response to a question in an application for license or certification or through
any form of fraud or misrepresentation.
(b) Failing to meet the minimum qualifications established by
this chapter.
(c) Paying compensation, including money or any other thing of
value, other than as provided for by this chapter, to any member of or employee
of the board to procure a license or certificate under this chapter.
(d) A conviction of a crime which is substantially related to
the qualifications, functions, and duties of a person developing real estate
appraisals and communicating real estate appraisals to others.
(e) An act or omission involving dishonesty, fraud, or
misrepresentation with the intent to substantially benefit the license or
certificate holder or another person or with the intent to substantially injure
another person.
(f) Violation of any of the standards for the development or
communication of real estate appraisals as provided in this chapter.
(g) Failure or refusal without good cause to exercise
reasonable diligence in developing an appraisal, preparing an appraisal report
or communicating an appraisal.
(h) Negligence or incompetence in developing an appraisal, in
preparing an appraisal report, or in communicating an appraisal, as determined
by the board.
(i) Disregarding or violating any of the provisions of this
chapter or the rules adopted by the board for the administration and enforcement
of this chapter.
(j) Accepting an appraisal assignment when the employment
itself is contingent upon the appraiser reporting a predetermined estimate,
analysis or opinion, or where the fee to be paid is contingent upon the opinion,
conclusion, or valuation reached, or upon the consequences resulting from the
appraisal assignment.
(k) Violating the confidential nature of governmental records
to which he or she gained access through employment or engagement as an
appraiser by a governmental agency.
III. The board, upon making an affirmative finding under
paragraph II, may take disciplinary action in any one or more of the following
ways:
(a) By written reprimand.
(b) By suspension, refusal to renew, limitation or restriction
of a license or certification, or probation for a period of time determined to
be reasonable by the board.
(c) By revocation of a license or certificate.
(d) By requiring the person to participate in a program of
continuing education in the area or areas in which the person has been found
deficient.
(e) By requiring the person to practice under the direct
supervision of a licensed appraiser for a period of time specified by the board.
(f) By assessing a fine of not more than $2,000 per violation
or, in the case of a continuing violation, $100 for each day the violation
continues, whichever would be greater.
(g) By taking any combination of the preceding actions,
relating to any real estate appraiser, in accordance with the provisions of this
chapter.
IV. The board may dismiss a complaint if the investigation
shows the allegations to be without basis in law or fact or if the undisputed
allegations do not warrant disciplinary proceedings.
310-B:18-a Standards for Professional Conduct. –
For purposes of
310-B:18-b
Reissuance of License or Certification. The board, for reasons it deems
sufficient, may reissue a license or certification to any person whose license
or certification has been suspended or revoked, provided 4 or more members of
the board vote in favor of such reissuance. A new license or certification may
be issued, subject to the rules of the board, and a fee shall be assessed for
such issuance.
310-B:19 Hearings;
Investigations.
The board may
undertake investigations of allegations of misconduct. The form of an
investigation is a matter of discretion of the board. The board shall
take no disciplinary action without a hearing. At least 14 days prior to
hearing, all parties to a disciplinary proceeding shall be served, either
personally or by certified mail, return receipt requested, with a written copy
of the complaint filed and notice of the time and place for hearing. All
complaints shall be objectively received and fairly heard by the board, but no
complaint shall be acted upon unless in writing. A hearing shall be held on all
written complaints
not dismissed by the board within
180 days after the date notice of a
complaint was received by the accused, unless otherwise agreed to by the
parties. Disciplinary hearings shall be conducted within
180
days of receipt of the complaint before at least
4 members of the board. Written notice
of all disciplinary decisions made by the board shall be given to all parties to
the proceeding upon their issuance. Orders of the board shall be subject to the
contested case provisions of
310-B:20 Fees.
The board shall establish fees for application, for apprentices, and renewals of
apprentice status for licensure or certification, for renewal of licensure or
certification under this chapter,
for registration and renewal of registration of
appraisal management companies, and for transcribing and transferring
records and other services. The fees established by the board shall be
sufficient to produce estimated revenues equal to 125 percent of the direct
operating expenses of the board for the previous fiscal year, and sufficient to
provide for periodic payments to reimburse the general fund for money
appropriated for the purposes of this chapter.
310-B:21 Receipts and
Disbursements.
I.
The
board shall receive and account for all moneys derived under the provisions of
this chapter. At least monthly, the receipts shall be turned over to the state
treasurer, who shall keep such moneys in a separate fund to be known as the real
estate appraisers fund. Such fund shall be kept separate and apart from all
moneys in the treasury, and shall be disbursed only for purposes of this
chapter. Under no circumstances shall the total amount of payments exceed the
fees collected under this chapter.
I-a. All moneys
collected as administrative penalties through enforcement actions or settlements
under this chapter shall be credited to the real estate appraisers fund and
disbursed by the board for the investigation of complaints and activities that
violate this chapter or rules adopted by the board.
II. The board shall
reimburse the general fund for moneys appropriated for the purposes of this
chapter as soon as such funds are available.
III. Revenues in
excess of budget estimates may be expended with the prior approval of the
legislative fiscal committee and the governor and council.
310-B:22 Roster. A roster showing the names, classification and place
of business of all real estate appraisers licensed or certified under this
chapter, who have paid their annual federal registry fee to the board, shall be
submitted annually with the moneys collected to the federal Appraisal
Subcommittee. A copy of the roster shall be
furnished
upon request at a fee established by the board which reflects the direct and
incidental costs of making copies.
310-B:23 Retention of Records. –
I. A licensed or certified real estate appraiser shall retain
for 5 years, all reports and supporting data assembled and formulated by the
appraiser in preparing reports.
II. This 5-year period for retention of records is applicable
to each engagement of the services of the appraiser and shall commence upon the
date of the submittal of the appraisal to the client unless, within such 5-year
period, the appraiser is notified that the appraisal or report is involved in
litigation, in which event the 5-year period for the retention of records shall
commence upon the date of the final disposition of such litigation.
III. All records required to be maintained under the
provisions of this chapter shall be made available by the licensed or certified
real estate appraiser for inspection and copying by the board, upon a showing of
good cause, on reasonable notice to the appraiser.
310-B:23-a
Summons; Oaths; Witnesses. –
I. The board shall have
the power to administer oaths or affirmations, preserve testimony, subpoena
witnesses, and to compel, by subpoena duces tecum, the production of all books,
records, files and documents, whether originals, copies, or in electronic or
other form, and other materials, relevant to its investigation of any complaint
or disciplinary proceeding before the board.
II. The board may issue subpoenas with the approval of the
office of the attorney general.
III. A minimum of 10 business days' notice shall be given for
compliance with a subpoena under this chapter.
310-B:24 Rulemaking Authority. The board shall adopt rules pursuant
to
I. The application
procedure and
eligibility requirements for the issuance of any
initial license or certificate issued under
this chapter,
including the issuance of such licenses to applicants holding a currently valid
license or other authorization to practice in another jurisdiction.
I-a. The application
procedure and eligibility requirements for the issuance of any temporary
practice permit issued under this chapter.
II. Design and
content of all forms required under this chapter.
III. How an
applicant shall be examined.
IV. How a license or
certificate shall be renewed.
V. Ethical standards
required to be met by each holder of a license or certificate issued under this
chapter and how such license or certificate may be revoked for violation of
these standards.
VI. Establishing all
fees required under this chapter, subject to
VIII.
The conduct of investigations and
procedures for the conduct of hearings consistent with the requirements of
VIII-a. Establishing
continuing education and experience requirements which comport with criteria set
forth by the board.
IX.
The requirements for public requests for
information.
X. The conditions and
requirements for granting a waiver to any rule adopted by the board.
310-B:25 Severability. – If any provisions of
this chapter or the application thereof to any person or in any circumstance are
held invalid, the invalidity does not affect other provisions or applications of
the chapter which can be given effect without the invalid provisions or
applications, and to this end the provisions of this chapter are severable.
Updated
New Hampshire Joint Board of Licensure and Certification
57 Regional Drive
Concord, New Hampshire 03301
(603) 271-2219
*FOR THE OFFICIAL VERSION OF ANY STATUTE, PLEASE CONSULT THE BOUND VOLUMES AND SUPPLEMENTS OF THE NEW HAMPSHIRE REVISED STATUTES ANNOTATED