P.R. Laws tit. 20, § 2320a
Any appraiser certified to be in good standing by any state of the Union may practice temporarily in Puerto Rico in transactions that include federal funds provided the law in said state has been endorsed by the Appraisal Subcommittee. In the case of operations that do not involve federal funds, the appraiser shall meet the license requirements established in § 2308 of this title.
For such purposes, the Board shall have five (5) days as of the receipt of the application to process the permit for temporary practice, whose terms and effectiveness shall be limited according to the policies established by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Provided, however, That the effectiveness of the temporary practice permit shall never exceed one year as of the date of issue.
For this classification, it shall be necessary for the applicant to register with the Board the Appraiser’s Consent to Service in Puerto Rico.
The Board shall adopt regulations in which it shall set forth the policies on temporary practice established by the Appraisal Subcommittee of the Federal Financial Institutions Examinations Council. Provided, however, That the effectiveness of the temporary practice permit shall never exceed one year as of the date of issue.
History —July 31, 1974, No. 277, Part 2, p. 326, added as § 13(C) on Dec. 26, 1997, No. 194, § 13.