Mich. Comp. Laws § 338.2238

Current through Public Act 171 of the 2024 Legislative Session

Section 338.2238 - State licensed real estate appraiser, certified general real estate appraiser, certified residential real estate appraiser, or limited real estate appraiser; fees; inclusion of federal fee; creation of real estate appraiser education fund

(1) Fees for an individual licensed or seeking licensure as a state licensed real estate appraiser, a certified general real estate appraiser, a certified residential real estate appraiser, or a limited real estate appraiser under article 26 of the occupational code, MCL 339.2601 to 339.2637, are as follows:

(a) Application processing fees:
(i) Certified general real estate appraiser as follows:
(A) If paid after September 30, 2027.............	$	25.00
(B) Beginning October 1, 2003 through September 30, 2027...................................................		35.00
(ii) Certified residential real estate appraiser as follows:
(A) If paid after September 30, 2027.............		25.00
(B) Beginning October 1, 2003 through September 30, 2027...................................................		35.00
(iii) State licensed real estate appraiser as follows:
(A) If paid after September 30, 2027.............		25.00
(B) Beginning October 1, 2003 through September 30, 2027...................................................		35.00
(iv) Limited real estate appraiser as follows:
(A) If paid after September 30, 2027.............		25.00
(B) Beginning October 1, 2003 through September 30, 2027...................................................		35.00
(b) Examination fees:
(i) Certified general real estate appraiser...........		100.00
(ii) Certified residential real estate appraiser......		100.00
(iii) State licensed real estate appraiser.............		100.00
(c) License fee, per year:
(i) Certified general real estate appraiser...........		175.00
(ii) Certified residential real estate appraiser......		175.00
(iii) State licensed real estate appraiser.............		175.00
(iv) Limited real estate appraiser....................		125.00
(d) Temporary permit fee.............................		125.00

(2) The license fee includes a fee imposed by the federal government under 12 USC 3338 for certified general real estate appraisers, certified residential real estate appraisers, and state licensed real estate appraisers. The amount of the fee described in this subsection must not exceed $50.00 per licensee, and the department shall collect and pay the fee to the federal government under section 2637 of the occupational code, MCL 339.2637.

(3) The real estate appraiser education fund is created in the state treasury. All of the following apply to the real estate appraiser education fund:

(a) Ten dollars of each fee received under subsection (1)(c) must be forwarded to the state treasurer for deposit into the real estate appraiser education fund.

(b) The department shall use the money in the real estate appraiser education fund only for the operation of departmental programs related to the education required of all licensees or applicants for licensure under article 26 of the occupational code, MCL 339.2601 to 339.2637.

(c) The state treasurer shall direct the investment of the fund and shall credit to the fund interest and earnings from fund investments.

(d) Money in the fund at the close of the fiscal year remains in the fund and does not lapse to the general fund.

(e) The department is the administrator of the fund for auditing purposes.

MCL 338.2238

Amended by 2023, Act 131,s 8, eff. 9/29/2023.

Amended by 2019, Act 71,s 8, eff. 9/30/2019.

Amended by 2015, Act 75,s 9, eff. 10/1/2015.

Amended by 2012, Act 308,s 14, eff. 10/1/2012.

Amended by 2007, Act 77,s 13, eff. 9/30/2007.

Amended by 2003, Act 87, s 12, eff. 7/23/2003.

Add. 1990, Act 268, Imd. Eff. 10/17/1990 ;--Am. 1999, Act 171, Imd. Eff. 11/10/1999.