Source: http://www.wvlegislature.gov/legisdocs/chamber/2013/RS/com_amends/HB2608%20H%20GO%20AM%203-19.htm
Timestamp: 2018-01-17 19:47:32
Document Index: 379181142

Matched Legal Cases: ['§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30', '§30']

HB2608 H GO AM 3-19
The Committee on Government Organization moves to amend the bill on page two, after the enacting clause, by striking out the remainder of the bill and inserting in lieu thereof the following:
“That §30-38-6, §30-38-7 and §30-38-9 of the Code of West Virginia, 1931, as amended, be amended and reenacted; that said code be amended by adding thereto a new article, designated §30-38A-1, §30-38A-2, §30-38A-3, §30-38A-4, §30-38A-5, §30-38A-6, §30-38A-7, §30-38A-8, §30-38A-9, §30-38A-10, §30-38A-11, §30-38A-12, §30-38A-13, §30-38A-14, §30-38A-15, §30-38A-16 and §30-38A-17, all to read as follows:
(4) Three Two members may not be engaged in the practice of real estate appraisal, real estate brokerage or sales or have any financial interest in these practices.
(d) (e) The board shall meet at least once in each calendar quarter on a date fixed by the board.
(2) No member shall may participate in a proceeding before the board to which a corporation, partnership or unincorporated association is a party, and of which he or she is or was at any time in the preceding twelve months a director, officer, owner, partner, employee, member or stockholder.
(e) (f) The appointed members will receive compensation and expense reimbursement in accordance with the provisions of section eleven, article one of this chapter.
(f) (g) The board may employ staff as necessary to perform the functions of the board, to be paid out of the board fund created by the provisions of this article. Persons employed by any real estate agent, broker, appraiser or lender, or by any partnership, corporation, association or group engaged in any real estate business, may not be employed by the board.
(c) (d) Approve or disapprove applications for certification and licensure;
(d) (f) Define by rule continuing education requirements for the renewal of certifications and licenses;
(e) (g) Censure, suspend or revoke licenses and certification as provided in this article;
(f) (i) Hold meetings, hearings and examinations;
(g) (j) Establish procedures for submitting, approving and disapproving applications;
(h) (k) Maintain an accurate registry of the names, and addresses and contact information of all persons certified or issued a license to practice under this article;
(i) (m) Maintain accurate records on applicants and licensed or certified real estate appraisers;
(j) (o) Issue to each licensed or certified real estate appraiser a pocket card with the appraiser’s name and license or certification number. Pocket cards are the property of the State of West Virginia and, upon suspension or revocation of the license to practice pursuant to this article, will be returned immediately to the board;
(k) (q) Deposit all fees collected by the board to the credit of the West Virginia appraiser licensing and certification board fund established in the office of the State Treasurer. The board shall disburse moneys from the account to pay the cost of board operation. Disbursements from the account may not exceed the moneys credited to it;
(l) (r) Keep records and make reports as required by article one of this chapter; and
(m) (s) Perform any other functions and duties necessary to carry out the provisions of this article and article thirty-eight-a of this chapter.
(2) (3) Fees for licenses, renewals of licenses and other services provided by the board;
(3) (7) Experience, education and continuing education requirements and approval of courses; and
(4) (8) Any other purpose to carry out the requirements of this article and article thirty-eight-a of this chapter.
(c) Any rules in effect as of the passage of this article on the effective date of the reenactment of this section during the regular session of the legislature in 2013 will remain in effect until amended, modified, repealed or replaced, except that references to provisions of former enactments of this act are interpreted to mean provisions of this article.
(a) Commencing July 1,2014, it is unlawful for any person or firm to perform or offer to perform appraisal management services, or act as an appraisal management company within this state without a registration issued by the West Virginia Real Estate Appraiser Licensing and Certification Board under the provisions of this article.
(a) “Applicant” means a person or firm making an application for registration under the provisions of this article.
(b) “Appraisal” means an analysis, opinion or conclusion prepared by a real estate appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate or identified real property. An appraisal may be classified by the nature of the assignment as a valuation appraisal, an analysis assignment or a review assignment.
(c) “Appraisal Management Company” means a person or firm that performs or provides appraisal management services, directly or indirectly, through the use of software products or online, or by any means of communication.
(d) “Appraisal management services” means the business of managing the process of having an appraisal performed for compensation or pecuniary gain, including but not limited to any of the following actions:
(12) Compensating appraisers for appraisal services rendered. (e) “Appraisal review” means the act of developing and communicating an opinion about the quality of another appraiser’s work that was performed as part of an appraiser assignment. The review does not include:
(f) “Appraisal services” means the practice of developing an opinion of the value of real estate in conformity with the minimum USPAP standards.
(g) “Appraiser” means a person licensed or certified, under the provisions of article thirty-eight of this chapter, to perform an appraisal.
(h) “Appraiser panel” means a group of appraisers that perform appraisals for an appraisal management company as independent contractors.
(i) “Automated valuation model (AVM)” means a mathematically based computer software program that produces an estimate of market value based on market analysis of location, market conditions, and real estate characteristics from information that was previously and separately collected.
(j) “Board” means the West Virginia Real Estate Appraiser Licensing and Certification Board established under the provisions of article thirty-eight of this chapter.
(k) “Client” means a person or firm that contracts or enters into an agreement with an appraisal management company for the performance of an appraisal.
(l) “Controlling person” means a person authorized by an appraisal management company to contract or enter into agreements with clients and independent appraisers for the performance of appraisal services and who has the power to manage the appraisal management company.
(m) “Firm” means a corporation, limited liability company, partnership, sole proprietorship or any other business entity.
(n) “Registrant” means a person or firm holding a registration issued by the board under the provisions of this article.
(o) “Registration” means a registration issued by the board under the provisions of this article.
(p) “State” means the State of West Virginia.
(q) “USPAP” means the Uniform Standards of Professional Appraisal Practice.
(b) A firm applying for a registration may not be more than ten percent owned, directly or indirectly, by:
(2) A firm that is owned by a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked or surrendered in this state or any other jurisdiction, unless the license or certificate was subsequently granted or reinstated.
(a) A financial institution,including a department or unit within an institution that is regulated by an agency of this state or the United States government; or
(4) (A) If the applicant is a domestic firm, the designation of an agent for service of process; or
(3) Has set procedures for an appraiser, licensed or certified in this state or in any state with a minimum of the same certification level as the appraiser who performed the appraisal, to review the work of the appraisers performing appraisals for the applicant to verify that the appraisals are being conducted in accordance with the minimum USPAP standards;
(b) The applicant, each owner of more than ten percent and any controlling person shall submit a written verification, on a form prescribed by the board, that includes statements that:
(3) The applicant, each owner of more than ten percent, and the controlling person of the firm seeking registration has not pleaded guilty or nolo contendere to or been convicted of a felony;
(4) Within the past ten years, the applicant, each owner of more than ten percent, and the controlling person of the firm seeking registration has not pleaded guilty or nolo contendere to or been convicted of:
(5) The applicant, each owner and the controlling person of the firm seeking registration are of good character and reputation and that none of them has had a license or certificate to act as an appraiser refused, denied, canceled, revoked or surrendered in this state or any other jurisdiction, and the license or certification was not subsequently granted or reinstated;
(6) The applicant, each owner and the controlling person of the firm seeking registration are not permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving appraisals, appraisal management services or operating an appraisal management company;
(7) The applicant, each owner of more than ten percent, and the controlling person of the firm seeking registration are not the subject of an order of the board or any other jurisdiction’s agency that regulates appraisal management companies that denied, suspended or revoked the applicant’s or firm’s privilege to operate as an appraisal management company;
(8) The applicant, each owner of more than ten percent, and the controlling person of the firm seeking registration have not acted as an appraisal management company while not being properly registered by the board; and
(a) Upon application, the applicant, each owner of more than ten percent, and the controlling person of the firm seeking registration shall submit to a state and national criminal history record check, as set forth in this section.
(5) Accrue to the state for the benefit of any claimant against the registrant to secure the faithful performance of the registrant’s obligations.
(3) Never have had a license or certificate to act as an appraiser refused, denied, canceled, revoked or surrendered in this state or any other jurisdiction and not subsequently reinstated;
(5) Never have been the subject of an order of the board or any other jurisdiction’s appraisal management company regulatory agency that denied or revoked the applicant’s or firm’s privilege to operate as an appraisal management company.
(b) An appraiser who is removed from an appraiser panel or refused appraisal assignments for an alleged act or omission that would constitute grounds for disciplinary action under the provisions of section twelve, article thirty-eight of this code, a violation of the USPAP or a violation of state law or legislative rule may file a complaint with the board for a review of the appraisal management company’s decision.
(c) The board’s review under this subsection is limited to determining whether:
(d) The board shall hold a hearing on the complaint within a reasonable time, not exceeding one year after the complaint was filed.
(f) After the board’s order, an appraisal management company may not:
(d) If information on a disclosure becomes inaccurate for any reason, then a revised or amended disclosure shall be provided by the end of the next business day after the change. The revised or amended disclosure shall be clearly marked as revised or amended and contain sufficient information for the client to identify the original disclosure referenced.
(2) Requires an appraiser to prepare an appraisal when the appraiser believes, in his or her own professional judgment and notifies the appraisal management company, that the appraiser does not have the necessary expertise for the specific geographic area or is otherwise not competent to perform the appraisal;
(3) Requires an appraiser to prepare an appraisal under a certain time frame that the appraiser believes, in his or her own professional judgment and notifies the appraisal management company, that the appraiser does not have the necessary time to meet all the necessary and relevant legal and professional obligations;
(4) Prohibits or inhibits communication between an appraiser and any other person from whom the appraiser, in the appraiser’s own professional judgment, believes information would be relevant;
(6) Makes any portion of the appraiser’s fee or the appraisal management company’s fee contingent on a favorable outcome, including:
(B) Withholding payment to an appraiser for appraisal services; or
(3) Knowingly enter into a contract with a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked or surrendered in this state or any other jurisdiction, and not subsequently granted or reinstated;
(8) Require an appraiser to provide the registrant with the appraiser’s signature or seal in any form;
(10) Remove an appraiser’s signature or seal from an appraisal;
(22) Commit an act or practice that impairs or attempts to impair an appraiser’s independence, objectivity or impartiality.
(3) Provide further detail, substantiation or explanation for the appraiser’s conclusion; or
(8) A person or firm violated the provisions of this article, this code, or the board’s rules;
(12) A person or firm is the subject of an order of the board or any other jurisdiction’s appraisal management company regulatory agency that denied, revoked or restricted a person’s or firm’s privilege to operate as an appraisal management company;
(b) If the board determines after the investigation there are grounds for disciplinary action, the board may hold a hearing after giving thirty days’ prior notice.
(e) The board may seek injunctive relief in the Kanawha County Circuit Court to prevent a person or firm from violating the provisions of this article or the rules promulgated hereunder. The circuit court may grant a temporary or permanent injunction.”