§ 54.1-2012. Real Estate Appraiser Board; membership; chairman; meetings;seal.
A. The Real Estate Appraiser Board shall be composed of nine members asfollows: (i) six members shall be licensed as real estate appraisers,provided that, at all times, at least two of the appraiser members on theBoard shall be certified general real estate appraisers and one shall be acertified residential real estate appraiser, and provided further, that allsix appraiser members have been licensed for a period of at least five yearsprior to their appointment; (ii) one member shall be an officer or employeefamiliar with mortgage lending of a financial institution as defined in §6.1-2.1 or an affiliate or subsidiary thereof; and (iii) two members shall becitizen members. The terms of Board members shall be four years.
The appointment of appraiser members may be made from lists of at least threenames each, submitted by Virginia affiliates of professional appraisalorganizations that are members of the Appraisal Foundation. The appointmentof the bank or savings institution member may be made from lists of at leastthree names each, submitted by the Virginia Bankers Association and theVirginia Association of Community Banks. Nominations for appointments toregular terms shall be submitted to the Governor on or before June 1 of eachyear. The Governor may notify the above organizations of any vacancy otherthan by expiration and like nominations may be made for the filling of thevacancy. In no case shall the Governor be bound to make any appointment fromamong the nominees.
Notwithstanding § 54.1-200, all members of the Board, including the citizenmembers, shall be eligible to participate in all matters, including decisionsregarding the examination of applicants for licensure and decisions regardingthe professional competence of licensees.
The Board shall elect a chairman and a vice-chairman from its membership,provided that the chairman shall be an appraiser member.
The Board shall meet at least four times annually, and additional meetingsmay be called by the chairman or, if the chairman is incapacitated, by thevice-chairman, as deemed necessary.
The Board shall adopt a seal by which it shall authenticate its proceedings.
B. As soon as practicable, the Board shall determine the anticipatedavailability of licensed and certified appraisers to perform appraisals inVirginia. If, at any time, the Board determines that there is, or will be, ascarcity of certified general real estate appraisers, certified residentialreal estate appraisers, or licensed residential real estate appraisers toperform appraisals in connection with federally related transactions in anypart of Virginia that leads, or will lead, to significant delays in theperformance of such appraisals, the Board, subject to federal approval, shallextend the effective date of the licensing requirements of this chapter tothe extent permitted under any temporary waiver granted under the FinancialInstitutions Reform, Recovery and Enforcement Act of 1989, as amended (12U.S.C. § 3301 et seq.).
(1990, c. 459; 1992, c. 68; 1999, cc. 208, 505; 2010, c. 91.)
§ 54.1-2012. Real Estate Appraiser Board; membership; chairman; meetings;seal.
A. The Real Estate Appraiser Board shall be composed of nine members asfollows: (i) six members shall be licensed as real estate appraisers,provided that, at all times, at least two of the appraiser members on theBoard shall be certified general real estate appraisers and one shall be acertified residential real estate appraiser, and provided further, that allsix appraiser members have been licensed for a period of at least five yearsprior to their appointment; (ii) one member shall be an officer or employeefamiliar with mortgage lending of a financial institution as defined in §6.1-2.1 or an affiliate or subsidiary thereof; and (iii) two members shall becitizen members. The terms of Board members shall be four years.
The appointment of appraiser members may be made from lists of at least threenames each, submitted by Virginia affiliates of professional appraisalorganizations that are members of the Appraisal Foundation. The appointmentof the bank or savings institution member may be made from lists of at leastthree names each, submitted by the Virginia Bankers Association and theVirginia Association of Community Banks. Nominations for appointments toregular terms shall be submitted to the Governor on or before June 1 of eachyear. The Governor may notify the above organizations of any vacancy otherthan by expiration and like nominations may be made for the filling of thevacancy. In no case shall the Governor be bound to make any appointment fromamong the nominees.
Notwithstanding § 54.1-200, all members of the Board, including the citizenmembers, shall be eligible to participate in all matters, including decisionsregarding the examination of applicants for licensure and decisions regardingthe professional competence of licensees.
The Board shall elect a chairman and a vice-chairman from its membership,provided that the chairman shall be an appraiser member.
The Board shall meet at least four times annually, and additional meetingsmay be called by the chairman or, if the chairman is incapacitated, by thevice-chairman, as deemed necessary.
The Board shall adopt a seal by which it shall authenticate its proceedings.
B. As soon as practicable, the Board shall determine the anticipatedavailability of licensed and certified appraisers to perform appraisals inVirginia. If, at any time, the Board determines that there is, or will be, ascarcity of certified general real estate appraisers, certified residentialreal estate appraisers, or licensed residential real estate appraisers toperform appraisals in connection with federally related transactions in anypart of Virginia that leads, or will lead, to significant delays in theperformance of such appraisals, the Board, subject to federal approval, shallextend the effective date of the licensing requirements of this chapter tothe extent permitted under any temporary waiver granted under the FinancialInstitutions Reform, Recovery and Enforcement Act of 1989, as amended (12U.S.C. § 3301 et seq.).
(1990, c. 459; 1992, c. 68; 1999, cc. 208, 505; 2010, c. 91.)
§ 54.1-2012. Real Estate Appraiser Board; membership; chairman; meetings;seal.
A. The Real Estate Appraiser Board shall be composed of nine members asfollows: (i) six members shall be licensed as real estate appraisers,provided that, at all times, at least two of the appraiser members on theBoard shall be certified general real estate appraisers and one shall be acertified residential real estate appraiser, and provided further, that allsix appraiser members have been licensed for a period of at least five yearsprior to their appointment; (ii) one member shall be an officer or employeefamiliar with mortgage lending of a financial institution as defined in §6.1-2.1 or an affiliate or subsidiary thereof; and (iii) two members shall becitizen members. The terms of Board members shall be four years.
The appointment of appraiser members may be made from lists of at least threenames each, submitted by Virginia affiliates of professional appraisalorganizations that are members of the Appraisal Foundation. The appointmentof the bank or savings institution member may be made from lists of at leastthree names each, submitted by the Virginia Bankers Association and theVirginia Association of Community Banks. Nominations for appointments toregular terms shall be submitted to the Governor on or before June 1 of eachyear. The Governor may notify the above organizations of any vacancy otherthan by expiration and like nominations may be made for the filling of thevacancy. In no case shall the Governor be bound to make any appointment fromamong the nominees.
Notwithstanding § 54.1-200, all members of the Board, including the citizenmembers, shall be eligible to participate in all matters, including decisionsregarding the examination of applicants for licensure and decisions regardingthe professional competence of licensees.
The Board shall elect a chairman and a vice-chairman from its membership,provided that the chairman shall be an appraiser member.
The Board shall meet at least four times annually, and additional meetingsmay be called by the chairman or, if the chairman is incapacitated, by thevice-chairman, as deemed necessary.
The Board shall adopt a seal by which it shall authenticate its proceedings.
B. As soon as practicable, the Board shall determine the anticipatedavailability of licensed and certified appraisers to perform appraisals inVirginia. If, at any time, the Board determines that there is, or will be, ascarcity of certified general real estate appraisers, certified residentialreal estate appraisers, or licensed residential real estate appraisers toperform appraisals in connection with federally related transactions in anypart of Virginia that leads, or will lead, to significant delays in theperformance of such appraisals, the Board, subject to federal approval, shallextend the effective date of the licensing requirements of this chapter tothe extent permitted under any temporary waiver granted under the FinancialInstitutions Reform, Recovery and Enforcement Act of 1989, as amended (12U.S.C. § 3301 et seq.).
(1990, c. 459; 1992, c. 68; 1999, cc. 208, 505; 2010, c. 91.)
