An Act to Amend the Laws Governing Real Estate Appraisers and Appraisal Management Companies
Maine Legislature, Session 131, LD 2062
Committee: Innovation, Development, Economic Advancement and Business
Sponsors: ROBERTS
Amends: 32 MRSA §14011, 32 MRSA §14039, 32 MRSA §14042

Legislative Document
No. 2062
H.P. 1324
House of Representatives, December 13, 2023
An Act to Amend the Laws Governing Real Estate Appraisers and 
Appraisal Management Companies
Submitted by the Department of Professional and Financial Regulation pursuant to Joint 
Rule 203.
Received by the Clerk of the House on December 11, 2023.  Referred to the Committee on 
Innovation, Development, Economic Advancement and Business pursuant to Joint Rule 308.2 
and ordered printed pursuant to Joint Rule 401.
ROBERT B. HUNT
Clerk
Presented by Representative ROBERTS of South Berwick.
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  32 MRSA §14011, sub-§7, as enacted by PL 2011, c. 286, Pt. L, §1, is 
amended to read:
7.  Exemption from standard.  The following are exempt from the requirements of 
the Uniform Standards of Professional Appraisal Practice, Standard 3 (2011):
A.  A board member serving in the capacity of assigned complaint officer while 
performing an investigation or testifying at an adjudicatory hearing;
B.  A board member serving in the capacity of reviewer while reviewing the work 
experience of an applicant for licensure; and
C.  An investigator employed by or retained by the department while performing an 
investigation or testifying at an adjudicatory hearing.
Sec. 2.  32 MRSA §14039, sub-§2, as enacted by PL 2013, c. 547, §18 and affected 
by §19, is amended to read:
2.  Certified level license required.  A certified general real property appraiser or 
certified residential real property appraiser who has held a license in any jurisdiction for a 
minimum of 3 years and within the last 3 years has not had a license suspended or revoked 
or been subject to other disciplinary action that limits the licensee's legal eligibility to 
perform real estate appraisal activity may supervise a trainee real property appraiser.
Sec. 3.  32 MRSA §14042, sub-§4, as reenacted by PL 2017, c. 475, Pt. D, §1, is 
amended to read:
4.  Appraisal management service.  "Appraisal management service" means one or 
more of the following:
A.  Recruiting, selecting and retaining appraisers;
B.  Contracting with appraisers to perform appraisal assignments;
C.  Managing the process of having an appraisal performed, including, but not limited 
to: providing administrative services such as receiving appraisal orders and appraisal 
reports, submitting completed appraisal reports to creditors and secondary market 
participants, collecting fees from creditors and secondary market participants for 
services provided and paying appraisers for services performed; and
(1)  Providing administrative services;
(2)  Receiving appraisal orders and appraisal reports;
(3)  Submitting completed appraisal reports to creditors and secondary market 
participants;
(4)  Collecting fees from creditors and secondary market participants for services 
provided; and
(5)  Paying appraisers for services performed; and
D.  Reviewing and verifying the work of appraisers.
Sec. 4.  32 MRSA §14042, sub-§18, as reenacted by PL 2017, c. 475, Pt. D, §1, is 
amended to read:
18.  Federally regulated appraisal management company.  "Federally regulated 
appraisal management company" means an appraisal management company that is owned 
and controlled by an insured depository institution, as defined in 12 United States Code, 
Section 1813 and regulated by the federal Office of the Comptroller of the Currency; Office 
of the Inspector General, the Board of Governors of the Federal Reserve System; or the 
Federal Deposit Insurance Corporation.
SUMMARY
This bill amends the laws governing the Board of Real Estate Appraisers to exempt a 
board member from all parts of the Uniform Standards of Professional Appraisal Practice 
when executing duties as a board member to review complaints and the work experience 
of an applicant for licensure and an investigator employed by or retained by the Department 
of Professional and Financial Regulation while performing an investigation or testifying at 
an adjudicatory hearing.  The bill also clarifies that a supervisory real property appraiser 
may have been licensed in any jurisdiction for at least 3 years to qualify to supervise a 
trainee real property appraiser.  Finally, the bill amends the definition of "appraisal 
management service" to clarify the activities that constitute this service and the definition 
of "federally regulated appraisal management company" to remove the federal Office of 
the Inspector General as a regulating authority.