reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-5 - Certifications required as State certified real estate appraiser

45:14F-5. Certifications required as State certified real estate appraiser
5. No person shall assume or use the title or designation "State certified general real estate appraiser" or the abbreviation "SCGREA" or "State certified residential real estate appraiser" or the abbreviation "SCRREA" or any other title, designation, words, letters, abbreviation, sign, card or device indicating that such person is a State certified real estate appraiser, unless such person holds a current, valid certificate as a State certified general or residential real estate appraiser, as applicable, pursuant to the provisions of this act.
L.1991,c.68,s.5; amended 1991,c.408,s.2.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-6 - License required for State licensed real estate appraiser

45:14F-6. License required for State licensed real estate appraiser
6. No person shall assume or use the title or designation "State licensed real estate appraiser" or the abbreviation "SLREA" or any other title, designation, words, letters, abbreviation, sign, card or device indicating that such person is a State licensed real estate appraiser, unless such person holds a current, valid license as a State licensed real estate appraiser pursuant to the provisions of this act.
L.1991,c.68,s.6; amended 1991,c.408,s.3.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-7 - Act not applicable to certain licensees or activities.

45:14F-7 Act not applicable to certain licensees or activities.
7. The provisions of this act shall not apply to any person who is:
a. a real estate appraiser licensed or certified in another state in compliance with federal requirements while on temporary assignment appraising real property located in this State, however, such appraiser shall be subject to registration requirements promulgated by the board; or
b. a tax assessor or an assistant tax assessor holding a valid tax assessor certificate employed by a county or municipal government or any political subdivision thereof whose appraisal activities are limited to appraisals in the course of his employment; or
c. a State employee (1) whose appraisal activities are limited to appraisals of parcels of property to be acquired for a public purpose with a fair market value, including damages to the remainder, if any, of each parcel to be acquired of not more than $25,000, notwithstanding the total value of the property in which the parcel is located that is owned by the prospective condemnee whose property is to be taken; and (2) whose appraisal activities are limited to appraisals in the course of his employment.
L.1991,c.68,s.7; amended 1997, c.401, s.1.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-9 - Appointment of Executive Director

45:14F-9. Appointment of Executive Director
The Executive Director of the board shall be appointed by the director and shall serve at the director's pleasure. The salary of the Executive Director shall be determined by the director within the limits of available funds. The director shall be empowered within the limits of available funds to hire any assistants as are necessary to administer this act.
L.1991,c.68,s.9.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-10 - Eligibility for licensure

45:14F-10. Eligibility for licensure
10. To be eligible for licensure as a real estate appraiser, an applicant shall fulfill the following requirements:
a. Be at least 18 years of age;
b. Be of good moral character;
c. Have a high school diploma or its equivalent;
d. Have real estate appraisal experience which experience shall meet standards for experience acceptable to the Appraisal Subcommittee;
e. Have successfully completed a course of study in real estate appraising prescribed by the board and conducted by an approved education provider, which course of study shall meet standards acceptable to the Appraisal Subcommittee; and
f. Successfully complete a real estate appraiser licensing examination administered by the board.
L.1991,c.68,s.10; amended 1991,c.408,s.5.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-10.2 - Information submitted by applicant, holder of license, certificate, or registration.

45:14F-10.2 Information submitted by applicant, holder of license, certificate, or registration.
4. a. An applicant and holder of a license, certificate or registration shall submit to the board his name, address and fingerprints taken on standard fingerprint cards or electronically by a State or municipal law enforcement agency or authorized agent. The board is authorized to exchange fingerprint data with and receive criminal history record information from the Federal Bureau of Investigation and the Division of State Police for use in making the determinations required by section 3 of P.L.1997, c.401 (C.45:14F-10.1).
b. Upon receipt of the criminal history record information for a person from the Federal Bureau of Investigation or the Division of State Police, the board shall notify the applicant, licensee, certified individual or registrant, as applicable, in writing, of the person's qualification or disqualification for licensure, certification or registration under section 3 of P.L.1997, c.401 (C.45:14F-10.1). If the applicant, licensee, certified individual or registrant, as applicable, is disqualified, the conviction or convictions which constitute the basis for the disqualification shall be identified in the written notice.
c. The applicant, licensee, certified individual or registrant, as the case may be, shall have 30 days from the date of written notice of disqualification to petition the board for a hearing on the accuracy of the criminal history record information or to establish his rehabilitation under subsection b. of section 3 of P.L.1997, c.401 (C.45:14F-10.1). The board may refer any case arising hereunder to the Office of Administrative Law for administrative proceedings pursuant to P.L.1968, c.410 (C.52:14B-1 et seq.).
d. The board shall not maintain any individual's criminal history record information or evidence of rehabilitation submitted under this section for more than six months from the date of a final determination by the board as to the individual's qualification or disqualification to be licensed, certified or registered pursuant to the provisions of this section and section 3 of P.L.1997, c.401 (C.45:14F-10.1).
e. All costs associated with performing the criminal history check required by P.L.1997, c.401 (C.45:14F-10.1 et al.) shall be borne by the applicant for licensure, certification or registration, or the holder of any license, certification or registration.
L.1997, c.401, s.4; amended 2017, c.72, s.27.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-11 - Eligibility for certification.

45:14F-11 Eligibility for certification.
11. To be eligible for certification as a general or residential real estate appraiser, an applicant shall fulfill the following requirements:
a. Be at least 18 years of age;
b. Be of good moral character;
c. Have a high school diploma or its equivalent;
d. Have real estate appraisal experience that meets the standards for experience prescribed by the Appraisal Qualifications Board of the Appraisal Foundation for the type of certificate sought;
e. Have successfully completed a course of study in real estate appraising prescribed by the board and conducted by an approved education provider, which course of study shall meet the standards for the course of study issued by the Appraisal Qualifications Board of the Appraisal Foundation for the type of certificate sought; and
f. Successfully complete a real estate appraiser certification examination administered by the board.
L.1991, c.68, s.11; amended 1991, c.408, s.6; 2017, c.72, s.28.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-14 - Waiving of requirement for certification, licensure

45:14F-14. Waiving of requirement for certification, licensure
In the event that the Appraisal Subcommittee of the Federal Financial Institution Examination Council grants a waiver pursuant to subsection (b) of section 1119 of Title XI of Pub. L. 101-73 (12 U.S.C. s.3348(b)), the board may waive any requirement for certification or licensure to the extent of the waiver granted by the Appraisal Subcommittee.
L.1991,c.68,s.14.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-15 - Issuance of license, certificate to out-of-State applicant.

45:14F-15 Issuance of license, certificate to out-of-State applicant.
15. Upon payment to the board of the prescribed fee and the submission of a written application on forms prescribed by it, the board may issue a license or certificate to any person who holds a valid license or certificate as a real estate appraiser issued by another state which meets or exceeds the minimum qualification criteria established by the Appraisal Qualifications Board of the Appraisal Foundation and the standards for licensure and certification established by this State.
L.1991, c.68, s.15; amended 2017, c.72, s.29.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-16 - Payment of application fee

45:14F-16. Payment of application fee
All applicants for licensure or certification as a real estate appraiser shall, at the time of making application, pay a non-refundable application fee the amount of which shall be prescribed by the board by rule.
L.1991,c.68,s.16.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-18 - Renewal of licenses, certifications.

45:14F-18 Renewal of licenses, certifications.
18. a. No license shall be renewed unless the renewal applicant submits satisfactory evidence to the board that the renewal applicant has successfully completed the continuing education requirements prescribed pursuant to P.L.1991, c.68 (C.45:14F-1 et seq.). The board shall not require less than the number of hours acceptable to the Appraisal Subcommittee of the Appraisal Foundation for the continuing education of licensed real estate appraisers.
b. No certificate shall be renewed unless the renewal applicant submits satisfactory evidence to the board that the renewal applicant has successfully completed the continuing education requirements prescribed pursuant to P.L.1991, c.68 (C.45:14F-1 et seq.) for the type of certificate for which renewal is sought. The board shall not require less than the number of hours of continuing education prescribed by the Appraisal Qualifications Board of the Appraisal Foundation as a national standard for the continuing education of certified real estate appraisers.
c. Continuing education may include classroom instruction in courses, seminars or other activities as approved by the board.
L.1991, c.68, s.18; amended 1991, c.408, s.8; 2017, c.72, s.30.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-19 - Examinations for licensure, certification

45:14F-19. Examinations for licensure, certification
The examinations for licensure or certification under the provisions of this act shall demonstrate that the applicant possesses the following:
a. An appropriate knowledge of technical terms commonly used in or related to real estate appraisal, appraisal report writing, and economic concepts applicable to real estate law;
b. A basic understanding of real estate law;
c. An understanding of the principles of land economics, the real estate appraisal process and problems likely to be encountered in the gathering and processing of data in carrying out appraisal disciplines;
d. An understanding of the standards for the development and communication of real estate appraisal reports established by the board pursuant to this act;
e. An understanding of the grounds for which the board may initiate disciplinary proceedings against a State licensed or certified real estate appraiser, as the case may be;
f. Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal which relate to the classification for which the applicant is applying; and
g. Knowledge of other real estate appraisal principles and procedures which may relate to the classification for which the applicant is applying.
L.1991,c.68,s.19.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-20 - Renewal of license, certificate after expiration

45:14F-20. Renewal of license, certificate after expiration
If a State licensed or certified real estate appraiser fails to renew his license or certificate prior to its expiration, the appraiser may obtain a license or certificate by satisfying all of the renewal requirements and paying the renewal and late renewal fees, provided that application for the issuance of a new license or certificate is made within one year of the expiration date of the last license or certificate held by the appraiser.
L.1991,c.68,s.20.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-21 - Certification requirements for persons performing appraisal; exception.

45:14F-21 Certification requirements for persons performing appraisal; exception.
21. a. A person who is not certified pursuant to the provisions of this act shall not describe or refer to any appraisal or other evaluation which he performs on real estate located in this State as "a certified appraisal."
b. A person who is not licensed pursuant to the provisions of this act shall not describe or refer to any appraisal or other evaluation which he performs on real estate located in this State as "a licensed appraisal."
c. Except as otherwise provided in subsection f. of this section, no person other than a State licensed real estate appraiser, a State certified real estate appraiser or a person who assists in the preparation of an appraisal under the direct supervision of a State licensed or certified appraiser shall perform or offer to perform an appraisal assignment in regard to real estate located in this State including, but not limited to, any transaction involving a third party, person, government or quasi-governmental body, court, quasi-judicial body or financial institution.
Nothing in P.L.1991, c.68 (C.45:14F-1 et seq.) shall be construed to preclude a person not licensed or certified pursuant to this act from giving or offering to give, for a fee or otherwise, counsel and advice on pricing, listing, selling and use of real property, directly to a property owner or prospective purchaser if the intended use of the counsel or advice is solely for the individual knowledge of or use by the property owner or prospective purchaser.
d. Nothing in this act shall be construed to preclude a person not certified or licensed pursuant to this act from assisting in the preparation of an appraisal to the extent permitted under subsection (d) of section 1122 of Title XI of Pub. L.101-73 (12 U.S.C. s.3351(d)).
e. (Deleted by amendment, P.L.1997, c.401).
f. A State or federally chartered bank, savings bank or savings and loan association may obtain and use appraisals made by a person who is not certified or licensed pursuant to the provisions of P.L.1991, c.68 (C.45:14F-1 et seq.) in any circumstance where the underlying transaction is a federally related transaction for which federal law and regulation do not require that a certified or licensed appraiser be used. For the purposes of this subsection, "federal law" means Title XI of Pub. L.101-73 (12 U.S.C. s.3331 et seq.); and "federally related transaction" has the meaning as set forth in section 1121 of Title XI of Pub. L.101-73 (12 U.S.C. s.3350).
L.1991,c.68,s.21; amended 1995, c.349, s.2; 1997, c.401, s.2.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-22 - Licensed, certified appraiser to provide business address to board

45:14F-22. Licensed, certified appraiser to provide business address to board
a. Each State licensed or certified real estate appraiser shall provide a designated business address to the board and shall notify the board in writing of any change in that address.
b. A State licensed or certified real estate appraiser shall conspicuously display his license or certificate at his place of business.
L.1991,c.68,s.22.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-23 - License, certificate returned to State; consent to service

45:14F-23. License, certificate returned to State; consent to service
a. Any license or certificate issued by the board shall remain the property of the State and shall be immediately returned to the board upon its suspension or revocation pursuant to this act.
b. The issuance of a license or certificate to an applicant who is a nonresident of this State shall be deemed to be his irrevocable consent that service of process in any action or proceeding may be made upon him by service upon the board.
L.1991,c.68,s.23.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-24 - Criteria for approval of courses, schools, instructors, fees

45:14F-24. Criteria for approval of courses, schools, instructors, fees
The board may, by regulation, establish criteria for the approval of real estate appraisal education courses, schools and instructors and may collect reasonable fees as prescribed by the board from applicants for approval.
L.1991,c.68,s.24.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-25 - Imposition, collection of federal fees.

45:14F-25 Imposition, collection of federal fees.
25. In the event that the government of the United States enacts legislation or rules requiring states to collect fees from appraisers or appraisal management companies licensed, certified or registered by those states and to remit the monies to a federal agency, the board is authorized to impose and collect these fees and may adopt rules requiring the payment of the fees by all appraisers licensed or certified pursuant to the provisions of P.L.1991, c.68 (C.45:14F-1 et seq.) or appraisal management companies registered pursuant to the provisions of P.L.2017, c.72 (C.45:14F-27 et al.).
L.1991, c.68, s.25; amended 2017, c.72, s.31.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-27 - Short title.

45:14F-27 Short title.
1. Sections 1 through 23 and section 32 of this act shall be known and may be cited as the "Appraisal Management Company Registration and Regulation Act." L.2017, c.72, s.1.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-28 - Findings, declarations relative to appraisal management companies.

45:14F-28 Findings, declarations relative to appraisal management companies.
2. The Legislature finds and declares that it is in the public interest to establish registration requirements for real estate appraisal management companies that employ, contract, retain or otherwise utilize the services of licensed and certified real estate appraisers to provide appraisal services in New Jersey. This act is intended to provide the State Real Estate Appraiser Board with authority to implement certain provisions of amendments in the Mortgage Reform and Anti-Predatory Lending Act of 2010, Pub.L.111-203, Subtitle F. Sec.1473(2) adding Section 1124 to Title XI of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. s.3353) (FIRREA), and the Truth in Lending Act, Pub.L.90-321 (15 U.S.C. ss.1601 et seq.), which amendments give certain authority and responsibilities to the board.
L.2017, c.72, s.2.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-30 - Authority of board.

45:14F-30 Authority of board.
4. The board shall have the authority to adopt rules that are reasonably necessary to establish an AMC registration program and implement, administer, and enforce the provisions set forth under this section.
a. The board shall have the legal authority and mechanisms to:
(1) review, and approve or deny an AMC's application for initial registration;
(2) review and renew, or review and deny an AMC's registration periodically;
(3) examine the books and records of an AMC operating in the State and require the AMC to submit reports, information, and documents;
(4) verify that the appraisers on the AMC's appraiser panel hold valid State certifications or licenses, as applicable;
(5) conduct investigations of AMCs to assess potential violations of applicable appraisal-related laws, regulations, or orders;
(6) discipline, suspend, terminate, or deny renewal of the registration of an AMC that violates applicable appraisal-related laws, regulations, or orders; and
(7) report to the Appraisal Subcommittee or other appropriate federal regulatory agency an AMC's or other third-party appraisal or appraisal management services provider's violation of applicable appraisal-related laws, regulations, or orders, as well as disciplinary and enforcement actions and other relevant information about an AMC's operations, or other third-party appraisal or appraisal management services provider's operations.
b. The board shall impose requirements on AMCs that are not owned and controlled by an insured depository institution and not regulated by a federal financial institution regulatory agency to:
(1) register with and be subject to supervision by the State appraiser certifying and licensing agency;
(2) engage only State-certified or State-licensed appraisers for federally related transactions in conformity with any federally related transaction regulations;
(3) establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience necessary to competently complete the appraisal assignment for the particular market and property type;
(4) direct the appraiser to perform the assignment in accordance with USPAP; and
(5) establish and comply with processes and controls reasonably designed to ensure that the AMC conducts its appraisal management services in accordance with the requirements of section 129E(a)-(i) of the Truth in Lending Act, 15 U.S.C. 1639e(a)-(i), and regulations promulgated thereunder.
L.2017, c.72, s.4.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-31 - Determination as to whether an AMC oversees an appraiser panel.

45:14F-31 Determination as to whether an AMC oversees an appraiser panel.
5. For purposes of determining whether, within the 12-month period defined by the State, an AMC oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in New Jersey or 25 or more state-certified or state-licensed appraisers in two or more states, pursuant to the definition of "AMC" as defined in section 3 of this act:
a. An appraiser is deemed part of the AMC's appraiser panel as of the earliest date on which the AMC:
(1) accepts the appraiser for the AMC's consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions; or
(2) engages the appraiser to perform one or more appraisals on behalf of a creditor for covered transactions or secondary mortgage market participant in connection with covered transactions.
b. An appraiser who is deemed part of the AMC's appraiser panel pursuant to subsection a. of this section is deemed to remain on the panel until the date on which the AMC:
(1) sends written notice to the appraiser removing the appraiser from the appraiser panel, with an explanation of its action; or
(2) receives written notice from the appraiser asking to be removed from the appraiser panel or notice of the death or incapacity of the appraiser.
c. If an appraiser is removed from an AMC's appraiser panel pursuant to subsection b. of this section, but the AMC subsequently accepts the appraiser for consideration for future assignments or engages the appraiser at any time during the 12 months after the appraiser's removal, the removal will be deemed not to have occurred, and the appraiser will be deemed to have been part of the AMC's appraiser panel without interruption.
d. Prior to assigning appraisal orders, an appraisal management company shall have a system in place to verify that a person being added to the appraiser panel holds the appropriate appraiser credential in good standing.
L.2017, c.72, s.5.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-33 - Applicability of act.

45:14F-33 Applicability of act.
7. The provisions of this act:
a. shall apply to an appraisal management company in accordance with section 1124(a), (b) and (c) of Subtitle F of the Mortgage Reform and Anti-Predatory Lending Act of 2010, Pub.L.111-203, amending the Financial Institutions Reform Recovery and Enforcement Act (12 U.S.C. s.3353 (a), (b), (c)); and
b. shall not apply to:
(1) an employee relocation management company in the course of employee relocation pursuant to its relocation policy; or
(2) a person or entity that exclusively employs appraisers on an employer and employee basis for the performance of appraisals for a variety of clients or intended uses of the appraisal other than mortgage lending consumer credit transactions secured by a consumer's principal dwelling.
L.2017, c.72, s.7.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-34 - Irrevocable uniform consent to service of process.

45:14F-34 Irrevocable uniform consent to service of process.
8. An entity or individual applying for a registration as an appraisal management company that is not domiciled in this State shall complete an irrevocable Uniform Consent to Service of Process, as prescribed by the board.
L.2017, c.72, s.8.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-35 - Application fee.

45:14F-35 Application fee.
9. a. The board shall establish by regulation an application fee to be paid by each appraisal management company seeking registration under this act that is sufficient for the administration of the registration process, but in no case shall the fee be more than $2,500.
b. A processing fee, similar to that provided for in subsection a. of this section not to exceed $2,500, may be charged by the board in connection with the renewal of a registration.
c. A registration granted by the board pursuant to this act shall be effective for a two-year period and may be renewed biennially.
d. The board shall require of each appraisal management company seeking registration a surety bond of $25,000.
e. Except as otherwise required by federal law, all fees paid by appraisal management companies shall be dedicated to use by the board for regulation of appraisal management companies and State certified and licensed real estate appraisers regulated by the board pursuant to State and federal law.
L.2017, c.72, s.9.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-36 - Prohibitions relative to an AMC.

45:14F-36 Prohibitions relative to an AMC.
10. a. An appraisal management company applying to the board for registration in this State shall not:
(1) in whole or in part, directly or indirectly, be owned by any person who has had an appraiser license or certificate in this State or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked;
(2) be subject to the ownership, control, direction, or authority of, or employ, appoint, or otherwise retain, a controlling person who is not of good moral character, which for purposes of this section shall require that such person has not been convicted of, or entered a plea of nolo contendere to, a crime relating to the practice of appraisal or any crime involving financial services, fraud, misrepresentation or moral turpitude.
b. For purposes of paragraph (2) of subsection a. of this section, each controlling person of an appraisal management company shall submit to a background investigation to be carried out by the board, in accordance with standards as established by the board by regulation.
c. The background investigation authorized under subsection b. of this section shall include but is not limited to a criminal history record information check conducted in accordance with sections 3 and 4 of P.L.1997, c.401 (C.45:14F-10.1 and C.45:14F-10.2).
L.2017, c.72, s.10.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-37 - Designated contact for communication.

45:14F-37 Designated contact for communication.
11. An appraisal management company applying to the board for registration in this State shall designate one controlling person that will be the designated contact for all communication between the board and the appraisal management company.
L.2017, c.72, s.11.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-39 - Licensure.

45:14F-39 Licensure.
13. An employee of, or independent contractor to, an appraisal management company that performs a Uniform Standards of Professional Appraisal Practice Standard 3 review of an appraisal report on property located in this State shall be an appraiser with the proper level of licensure, as prescribed pursuant to P.L.1991, c.68 (C.45:14F-1 et seq.). The provisions of this section shall not apply to any individual conducting an Administrative Quality Control Examination.
L.2017, c.72, s.13.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-40 - Collection of information and fees; reporting requirements.

45:14F-40 Collection of information and fees; reporting requirements.
14. a. With respect to reporting requirements for non-federally regulated appraisal management companies, the board will collect from each AMC registered or seeking to be registered in the State the information and fees that the Appraisal Subcommittee requires to be submitted to it by the State pursuant to regulations or guidance promulgated by the Appraisal Subcommittee.
b. With respect to reporting requirements for federally regulated appraisal management companies: a federally regulated AMC operating in the State shall report to the board the information required to be submitted by the State to the Appraisal Subcommittee, pursuant to the Appraisal Subcommittee's policies regarding the determination of the AMC National Registry fee. These reporting requirements will be set forth by the board by rule, and shall include:
(1) a report to the board on a form prescribed by the board of intent to operate in this State;
(2) information related to whether the AMC is owned in whole or in part, directly or indirectly, by any person who has had an appraiser license or certificate refused, denied, cancelled, surrendered in lieu of revocation, or revoked in any state for a substantive cause, as determined by the Appraisal Subcommittee; and
(3) if a person has had action taken on his or her appraisal license, the board shall collect information related to whether the license was revoked for a substantive cause and if it has been reinstated by the state or states in which the appraiser was licensed or certified.
c. The board is authorized to collect from a federally regulated AMC operating in the State for submission to the Appraisal Subcommittee the AMC National Registry fee.
L.2017, c.72, s.14.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-41 - Annual certification to the board.

45:14F-41 Annual certification to the board.
15. An appraisal management company seeking to be registered in this State shall certify to the board, annually, that it:
a. requires appraisers completing appraisals, including appraisal reviews, at its request to comply with the Uniform Standards of Professional Appraisal Practice, including the requirements for geographic and product competence;
b. has a system in place to verify that only licensed or certified appraisers are used for appraisals covered under this act, including, but not limited to, those performed for federally related transactions, and appraisals pursuant to the provisions of the "Real Estate Appraisers Act," P.L.1991, c.68 (C.45:14F-1 et seq.);
c. has a system in place to verify that an individual on the appraiser panel has not had a license or certification as an appraiser refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;
d. has a system in place to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under section 1639e of the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1639e), including the requirements for payment of customary and reasonable compensation to fee appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; and
e. is in compliance with State laws and regulations.
L.2017, c.72, s.15.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-42 - Adoption of appraiser independence standards.

45:14F-42 Adoption of appraiser independence standards.
16. This act adopts by reference the appraiser independence standards established under section 1639e of the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1639e), including:
a. the requirements for payment of customary and reasonable compensation to fee appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; and
b. all necessary enforcement and remedies available under the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1601 et seq.).
L.2017, c.72, s.16.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-43 - Certification relative to records of service requests.

45:14F-43 Certification relative to records of service requests.
17. An appraisal management company seeking to be registered in this State shall certify to the board, annually, by submission of a statement signed by the appraisal management company, that it maintains a detailed record of each service request that it receives and the name of the appraiser that performs the appraisal for the appraisal management company. Records shall be retained for a period of at least five years after an appraisal is completed or two years after final disposition of a judicial proceeding related to the assignment, whichever period expires later.
L.2017, c.72, s.17.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-44 - Responsibilities of certified or licensed appraiser.

45:14F-44 Responsibilities of certified or licensed appraiser.
18. Any State certified or licensed appraiser performing an appraisal assignment, including an appraisal review, for an appraisal management company, shall be responsible to ensure that the conduct of non-appraiser assistance is compatible with the professional responsibilities of the appraiser under federal and State laws and regulations, including but not limited to, conformance with the Uniform Standards of Professional Appraisal Practice. Non-appraiser assistance, shall include, but not be limited to, administrative quality control reviewers, who are agents of, contracted by, employees of, or whose services are otherwise utilized by an appraisal management company, appraiser, or organization.
L.2017, c.72, s.18.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-45 - Issuance of unique registration number, published lists.

45:14F-45 Issuance of unique registration number, published lists.
19. a. The board shall issue a unique registration number to each appraisal management company that is registered in this State.
b. The board shall maintain a published list of the appraisal management companies that have registered with the board pursuant to this act and have been issued a registration number pursuant to subsection a. of this section.
c. An appraisal management company registered in this State shall disclose the registration number provided to it by the board on any engagement documents presented to the appraiser.
d. Every appraisal performed pursuant to this act shall contain both the appraisal management company registration number and the amount of the fee received by the appraiser for performance of that appraisal.
L.2017, c.72, s.19.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-46 - Removal of appraiser from panel.

45:14F-46 Removal of appraiser from panel.
20. Except within the first 90 days after an appraiser is first added to the appraiser panel of an appraisal management company, an appraisal management company shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an appraiser without:
a. notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel of the appraisal management company;
b. notifying the appraiser of the nature of any alleged conduct or violation, if the appraiser is being removed from the panel for illegal conduct, violation of the Uniform Standards of Professional Appraisal Practice, or a violation of State licensing standards;
c. providing the appraiser with any evidence, upon which removal is based, including, but not limited to, any appraisal, appraisal review or appraisal consulting report; and
d. providing an opportunity for the appraiser to respond to the notification of the appraisal management company.
Any act of a State certified or licensed real estate appraiser, which constitutes a material violation of the Uniform Standards of Professional Appraisal Practice in the process described in this section, shall be considered prima facie evidence of a violation of the ethics requirements under the Uniform Standards of Professional Appraisal Practice. A material violation, for the purposes of this section, is one that is likely to affect the value estimated in any appraisal utilized in this section, or any other act that reflects on the professional conduct of the appraiser; however, the board shall not be involved in contractual disputes between an appraisal management company and an individual appraiser.
L.2017, c.72, s.20.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-47 - Notification to board relative to material violation.

45:14F-47 Notification to board relative to material violation.
21. a. An appraisal management company shall inform the board when the appraisal management company has a reasonable basis to believe that an appraiser has committed a material violation of:
(1) the Uniform Standards of Professional Appraisal Practice;
(2) applicable laws; or
(3) ethical or professional conduct.
b. An appraisal management company shall provide the board with all information in the possession of the appraisal management company in support of any information compiled against an appraiser under this section, including any evidence to support the determination that an appraisal management company has probable cause of a material violation as defined in subsection a. of this section.
For the purposes of this section, a material violation is one that is likely to affect the value assigned to a consumer's principal dwelling.
L.2017, c.72, s.21.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-48 - Payment to appraiser.

45:14F-48 Payment to appraiser.
22. Each appraisal management company shall, except in bona fide cases of breach of contract or substandard performance of services, make payment to an appraiser for the completion of an appraisal or valuation assignment within 60 days of the date on which the appraiser transmits or otherwise provides the completed appraisal or valuation study to the appraisal management company or its assignee unless a mutually agreed upon alternate arrangement has been previously established, which agreement shall be considered to be under the appraiser independence requirements of section 1639e of the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1639e).
L.2017, c.72, s.22.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-49 - Suspension, revocation of registration.

45:14F-49 Suspension, revocation of registration.
23. a. The board may suspend or revoke any registration issued under this act, levy fines, or impose civil penalties if, after appropriate investigation, the board concludes that an appraisal management company is attempting to perform, has performed, or has attempted to perform any of the following:
(1) Any action in violation of this act or regulations adopted hereunder;
(2) Any action in violation of the "Real Estate Appraisers Act," P.L.1991, c.68 (C.45:14F-1 et seq.), or regulations adopted thereunder; or
(3) Procuring a registration for itself or any other person by fraud, misrepresentation, or deceit.
b. When deciding whether to impose a sanction, determining the sanction that is most appropriate in a specific instance, or making any other discretionary decision regarding the enforcement of this act, the board may consider whether an appraisal management company:
(1) Has an effective program reasonably designed to ensure compliance with this act;
(2) Has taken prompt and appropriate steps to correct and prevent the recurrence of any detected violations; and
(3) Has independently reported to the board any significant violations or potential violations of this act, prior to an imminent threat of disclosure or investigation and within a reasonably prompt time after becoming aware of their occurrence.
c. The board may conduct random audits of appraisal management company compliance with this act, and those audits shall be funded through the various fees charged to appraisal management companies as set forth in this act, but an appraisal management company that timely files a certification of compliance in accordance with the provisions of this act shall have a presumption of compliance if that certification is accompanied by a legal opinion letter indicating that all compliance requirements have been satisfied.
d. Whenever the board finds cause to refuse to renew, suspend or revoke any registration, or to levy a fine or impose a civil penalty, the board shall notify the registrant of the reasons therefor, in writing, and provide opportunity for a hearing in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.).
L.2017, c.72, s.23.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14F-50 - Rules, regulations.

45:14F-50 Rules, regulations.
32. The State Real Estate Appraiser Board shall adopt rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the provisions of this act within 120 days of the effective date of this act.
L.2017, c.72, s.32.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14G-2 - Findings, declarations relative to practice of polysomnography.

45:14G-2 Findings, declarations relative to practice of polysomnography.
2. The Legislature finds and declares that the public interest requires the regulation of the practice of polysomnographers and the establishment of clear licensure standards for practitioners of polysomnography; and that the health and welfare of the citizens of this State will be protected by identifying to the public those individuals who are qualified and legally authorized to practice polysomnography.
L.2005,c.244,s.2.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14G-4 - State Board of Polysomnography.

45:14G-4 State Board of Polysomnography.
4. a. There is created within the Division of Consumer Affairs in the Department of Law and Public Safety the State Board of Polysomnography. The board shall consist of 11 members who are residents of the State, six of whom shall be licensed polysomnographic technologists who have been actively engaged in the practice of polysomnography in this State for at least five years immediately preceding their appointment, one of whom shall be a qualified medical director, one of whom shall be a physician licensed in this State pursuant to chapter 9 of Title 45 of the Revised Statutes and who is a Diplomate of the American Board of Sleep Medicine or is board certified in sleep medicine, two of whom shall be public members and one of whom shall be a State executive department member appointed pursuant to the provisions of P.L.1971, c.60 (C.45:1-2.1 et seq.). At the time of their appointment the six polysomnographic technologists initially appointed shall have been actively working as polysomnographic technologists and shall have been certified by the Board of Registered Polysomnographic Technologists for at least five years, but need not be licensed in this State.
b. The Governor shall appoint each member, other than the State executive department member, with the advice and consent of the Senate. The Governor shall appoint each member for a term of three years, except that of the polysomnographic practitioner members first appointed, two shall serve for terms of three years, two shall serve for terms of two years and two shall serve for a term of one year. Each member shall hold office until his successor has been appointed and qualified. Any vacancy in the membership of the board shall be filled for the unexpired term only in the manner provided for the original appointment.
L.2005,c.244,s.4.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14G-5 - Compensation of board members.

45:14G-5 Compensation of board members.
5. Members of the board shall be compensated and reimbursed for expenses and provided with office and meeting facilities pursuant to section 2 of P.L.1977, c.285 (C.45:1-2.5).
L.2005,c.244,s.5.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14G-6 - Election of chairman, vice-chairman; meetings.

45:14G-6 Election of chairman, vice-chairman; meetings.
6. The board shall annually elect from among its members a chairman and a vice-chairman. The board shall meet at least four times per year and may hold additional meetings as necessary to discharge its duties. The board shall organize itself following the appointment of at least that number of members of the board constituting a quorum of the entire board, provided that at least a majority of the members appointed are polysomnographic technologists.
L.2005,c.244,s.6.
2023 New Jersey Revised Statutes › Title 45 - Professions and Occupations › Section 45:14G-7 - Duties of board.

45:14G-7 Duties of board.
7. The board shall:
a. Establish criteria and standards for licensure at least commensurate with national accreditation standards adopted by the Association of Polysomnographic Technologists or the American Academy of Sleep Medicine or the Committee on Accreditation for Polysomnography;
b. Review the qualification of applicants for licensure;
c. Insure proper conduct and standards of practice;
d. Issue and renew licenses pursuant to this act;
e. Establish standards for continuing education;
f. Suspend, revoke or decline to renew licenses of polysomnographic technologists, technicians and trainees pursuant to the provisions of P.L.1978, c.73 (C.45:1-14 et seq.);
g. Maintain a record of every polysomnographic technologist, technician and trainee licensed in this State;
h. Promulgate rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to carry out the provisions of this act, except that the initial rules and regulations may be promulgated by the director; and
i. Establish fees for applications for licensure, examinations, initial licensure, renewals, late renewals, temporary licenses, provisional licenses and for duplication of lost licenses, pursuant to section 2 of P.L.1974, c.46 (C.45:1-3.2).
L.2005,c.244,s.7.