Iowa Admin. Code r. 193F-1.18

Current through Register Vol. 47, No. 5, September 4, 2024

Rule 193F-1.18 - [Effective until 5/22/2024] Qualified state appraiser certifying agency

(1) The real estate appraiser examining board is a state appraiser certifying agency in compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). As a result, persons who are issued certificates by the board to practice as certified real estate appraisers are authorized under federal law to perform appraisal services for federally related transactions and are identified as such in the National Registry maintained by the Appraisal Subcommittee (ASC).

(2) The board must adhere to the criteria established by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation when registering associate appraisers or certifying certified appraisers under Iowa Code chapter 543D. To the extent that the rules conflict with the minimum requirements outlined in the current version of the AQB criteria, the minimum standards established in the criteria shall apply and these rules shall give way to the minimum requirements to comply with federal rule, law, or policy.

ARC 1467C, IAB 5/28/2014, effective 7/2/2014

Amended by IAB February 9, 2022/Volume XLIV, Number 16, effective 3/16/2022