reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1450 - REAL ESTATE LICENSE ACT OF 2000 › Subpart L - CONTINUING EDUCATION TRANSITIONAL PROVISIONS (REPEALED) › Section 1450.1200 - Continuing Education Requirements for Transitioned Licensees (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1450 - REAL ESTATE LICENSE ACT OF 2000 › Subpart M - REAL ESTATE AUCTION CERTIFICATION › Section 1450.1300 - Real Estate Auction Pre-Certification Education

Current through Register Vol. 48, No. 28, July 12, 2024
a) The 30-hour real estate certification
				course set forth in Section 5-32 of the Act shall include the following:
1) 18 hours relating to real estate including
				the following topics:
A) Illinois and federal
				statutes and rules governing real estate;
B) Agency;
C) Real estate advertising; and
D) Any other subject matter recommended by
				the Division.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1450 - REAL ESTATE LICENSE ACT OF 2000 › Subpart M - REAL ESTATE AUCTION CERTIFICATION › Section 1450.1310 - Application for Real Estate Auction Certification

Current through Register Vol. 48, No. 28, July 12, 2024
To obtain a real estate auction certification, an applicant
				  must:
a) Submit a signed and completed
				real estate auction certification application in a format provided by the
				Division;
b) Hold a valid
				auctioneer license under the Auction License Act [225 ILCS 407];
c) Pay the fee required by Section
				1450.130(d)(1);
				and
d) Complete a 30-hour real
				estate auction certification course set forth in Section
				1450.1320,
				including passing the mandatory proctored final course exam.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1450 - REAL ESTATE LICENSE ACT OF 2000 › Subpart M - REAL ESTATE AUCTION CERTIFICATION › Section 1450.1320 - Real Estate Auction Certification Activities

Current through Register Vol. 48, No. 28, July 12, 2024
a) A licensed auctioneer with a real estate
				auction certification, who is not otherwise exempt from holding a broker or
				managing broker license under Section 5-20(13) of the Act, performing
				activities related to the auction of real estate shall be limited to:
1) Establishing the time of the real estate
				auction;
2) Establishing the place
				of the real estate auction;
3)
				Establishing the method of the real estate auction;
4) Placing proper advertisements regarding
				the real estate auction as set forth in Sections
				1450.715 and
				1450.720;
				and
5) Crying or calling the real
				estate auction.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart B - ADDITIONAL REGISTRATION INFORMATION (REPEALED) › Section 1451.50 - Resale Agent Duties (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart B - ADDITIONAL REGISTRATION INFORMATION (REPEALED) › Section 1451.58 - Resale Agent Maintenance of Records (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart B - ADDITIONAL REGISTRATION INFORMATION (REPEALED) › Section 1451.80 - Multi-Site Timeshare Plan Disclosure Requirements (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart C - ADDITIONAL INFORMATION TO BE SUBMITTED TO THE DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION (REPEALED) › Section 1451.96 - Renewal of Registration for Developer, Managing Entity, Acquisition Agent and Sales Agent (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart C - ADDITIONAL INFORMATION TO BE SUBMITTED TO THE DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION (REPEALED) › Section 1451.97 - Renewal of Registration for Exchange Company (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart C - ADDITIONAL INFORMATION TO BE SUBMITTED TO THE DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION (REPEALED) › Section 1451.100 - Amendment of Registration (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart D - ADVERTISING AND PROMOTIONAL MATERIALS (REPEALED) › Section 1451.200 - Submission of Advertising and Promotional Materials (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart D - ADVERTISING AND PROMOTIONAL MATERIALS (REPEALED) › Section 1451.210 - Guidelines for Advertising and Promotional Materials (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart D - ADVERTISING AND PROMOTIONAL MATERIALS (REPEALED) › Section 1451.230 - National Publication or Electronic Media (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1451 - REAL ESTATE TIMESHARE ACT OF 1999 (REPEALED) › Subpart E - ADMINISTRATION AND TRANSITION INFORMATION (REPEALED) › Section 1451.300 - Extension; Expiration (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.30 - Registration Title and Display

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Registrants shall affix their Illinois appraisal management registration number
			 and title within the body of every transmitted appraisal service request to an
			 Illinois appraiser.
b) The
			 registration title is "Illinois AMC Registration No. _______".
c) A registrant is not prohibited from
			 requiring the appraiser to disclose the information required in subsection (a)
			 in the body of the appraisal report.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.40 - Renewal of a Registration; Reinstatement; Restoration; Expiration Date

Current through Register Vol. 48, No. 28, July 12, 2024
a) All
			 registrations shall expire on December 31 of even-numbered years beginning in
			 the year 2014. A registrant may renew its registration during the month
			 preceding the expiration date by submitting to the Division a renewal
			 application provided by the Division on which all questions have been answered
			 and by paying the required renewal fee to the Department.
b) A registrant who fails to renew its
			 registration by the expiration date may renew the registration for a period of
			 5 years following the expiration date by submitting to the Division an
			 application for reinstatement on forms provided by the Division. All questions
			 must be answered and the required reinstatement fees paid to the
			 Department.
c) A registrant whose
			 registration has been expired for more than 5 years may apply for restoration
			 of the registration by submitting an application for restoration provided by
			 the Division, paying the required restoration fees, and, if applicable,
			 submitting proof that he or she has maintained a registration in good standing
			 in one or more states other than Illinois for the preceding 5 years.
d) For the purposes of determining if a
			 registration has expired under this Section, the Division shall consider the
			 registration expired if the postmark on the renewal application is a date later
			 than the expiration date or, if delivered other than by mail, the registration
			 shall be considered expired if the renewal application is received by the
			 Division in a date later than the expiration date.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.50 - Address Change

Current through Register Vol. 48, No. 28, July 12, 2024
All registrants shall notify the Division in writing of a
				change of mailing address, e-mail address and/or website address or addresses
				within 14 calendar days after the change.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.60 - Designated Controlling Person

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 All registrants shall notify the Division in writing of a change of the
			 designated controlling person within 30 calendar days after the change. A
			 registrant shall report this change to the Division by submitting a new
			 designated controlling person application on a form provided by the Division on
			 which all questions have been answered, in which the designated controlling
			 person accepts responsibility for maintaining the registrant's compliance with
			 the Act and this Part, and that is signed by the new designated controlling
			 person.
b) No person may be the
			 designated controlling person for more than one appraisal management
			 company.
c) Upon written request by
			 a representative of an appraisal management company, within 10 calendar days
			 after the loss of a designated controlling person of an appraisal management
			 company because of the incapacitation, death or termination of employment of
			 that individual, the Division shall issue a Temporary Certificate of Authority
			 allowing the continuing operation of the appraisal management company. No
			 Temporary Certificate of Authority shall be valid for more than 90 calendar
			 days. An extension of an additional 90 calendar days may be granted upon
			 written request by the representative of the appraisal management company. Not
			 more than 2 extensions may be granted to any appraisal management company. No
			 Temporary Certificate of Authority shall be issued for a loss of the designated
			 controlling person because of disciplinary action by the Division related to
			 his or her conduct on behalf of the appraisal management company.
d) A designated controlling person shall
			 report to the Division within 30 calendar days after any change related to his
			 or her criminal history, professional licensure, military or government
			 employment status, or delinquency regarding student loans, state taxes or child
			 support payments as reported in the registrant's original application,
			 subsequent renewal applications, or a new designated controlling person
			 application.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.70 - Change of Ownership

Current through Register Vol. 48, No. 28, July 12, 2024
a) No later
			 than 30 calendar days after the effective date of a change of ownership of an
			 appraisal management company registered under the Act, a new application shall
			 be filed with the Division in accordance with Section
			 1452.20.
b) Change of ownership is defined as, but not
			 limited to:
1) When an unaffiliated person,
			 partnership, corporation, limited liability company or other legal entity comes
			 to obtain 51% ownership or ownership interest of the appraisal management
			 company after initial registration; or
2) Change in the legal form under which the
			 controlling entity is organized.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.80 - Bonding Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
The bond required by Section 50 of the Act shall be for a term
				concurrent with the term of the registration, commencing with registrations
				issued by the Division with an expiration date of December 31, 2014 and
				concurrent with the 2-year term of each renewed registration thereafter. This
				provision does not prohibit the registrant from maintaining a continuing bond
				during any registration term. Failure to maintain the bond and to provide the
				Department with written proof of the bond, upon request, shall result in
				cancellation of the license without hearing.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.90 - Record Retention

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Registrants shall maintain a detailed record of each service request that it
			 receives for an appraisal practice service to be performed within Illinois.
			 Detailed records include, but are not limited to, a copy of:
1) The assignment order or service request
			 identifying the end-user client.
2)
			 Each assignment result, including revised reports, addenda, certifications and
			 any webform communications.
3) Any
			 and all correspondence between the appraisers, the registrant and any other
			 entity or party related to the assignment.
4) Any copy of any quality control review
			 related to the assignment.
5) Any
			 review not consistent with a quality control review.
6) All fee schedules maintained and used by
			 the registrant for the purpose of compliance with the provisions of the Truth
			 in Lending Act (
			 15 USC
			 1601 ) relating to customary and reasonable
			 fees. The fee schedules shall be definitive in nature.
7) Any roster of Illinois active and approved
			 fee panel appraiser vendors, including the name of the appraiser, each
			 appraiser's Illinois credential number, the date the appraiser was placed on
			 the panel, and the date and reason an appraiser was removed from the
			 panel.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.100 - Payment Policies

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 registrant shall provide a written, comprehensive payment policy to each
			 approved appraiser vendor. The payment policy may be part of a vendor
			 agreement, assignment order or service request, and shall include, but is not
			 limited to, the following:
1) The agreed date
			 or period by which the appraiser should expect to receive compensation at the
			 conclusion of an assignment;
2)
			 Total completed assignment compensation;
3) Any conditions that delay or void
			 payment;
4) By what method
			 compensation will be received by the appraiser;
5) Registrant's required turn time;
6) Partial compensation, if any, for the
			 following:
A) Completed assignment;
B) Registrant's or end-user client delays,
			 holds and/or cancellations; or
C)
			 Property owner or agent access delays and/or cancellations, including when an
			 individual responsible for providing access to a property fails to appear at
			 the scheduled time;
7)
			 Any and all fees and charges charged to an Illinois appraiser, including but
			 not limited to fees and charges for:
A)
			 Portal and/or EDI access or maintenance;
B) Systems access;
C) Technology applications and proprietary
			 software usage;
D) Background
			 and/or credit checks;
E) Review of
			 assignments or samples; and
F)
			 Application for panel approval.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.110 - Prior Written Notice

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 registrant shall notify the appraiser, in writing, within 30 calendar days,
			 prior to removing the appraiser from the list of approved appraisers. The
			 notice shall include any and all causes leading to the removal.
b) The registrant shall notify the Division
			 within 30 days after appraiser removals based upon a reasonable belief that the
			 appraiser prepared an appraisal report in violation of Illinois law,
			 administrative rules and/or USPAP.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.120 - Assignment Guidelines and Policies; Engagement

Current through Register Vol. 48, No. 28, July 12, 2024
a) The registrant shall provide written
			 assignment guidelines and conditions for each assignment. Those guidelines and
			 conditions shall not deviate from USPAP and cannot be considered a
			 jurisdictional exception without citation of the specific law or
			 regulation.
b) The registrant shall
			 provide the appraiser with an engagement document that contains, but is not
			 limited to, the following:
1) The
			 registrant's Illinois registration number and expiration date;
2) The location of the property or properties
			 that are the subject of the assignment;
3) Property type (e.g., single-family
			 residence, industrial condominium, etc.);
4) The total completed assignment
			 compensation;
5) The registrant's
			 turn time requirements;
6) The name
			 and contact information for the registrant's representative;
7) The name and contact information for any
			 person whose assistance is required to gain access to the subject property (if
			 applicable);
8) A legible copy of a
			 fully executed and complete sales contract, along with all pertinent addenda
			 (if the transaction involves a sale);
9) Registrant and/or end-user client
			 guidelines or changes in guidelines;
10) Information as to whether the owner of
			 the property under appraisement has been advised that interior images may be
			 required under the assignment criteria;
11) Identification of the end-user client in
			 any assignment or service request.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.130 - Appraisal Review; Quality Control Review

Current through Register Vol. 48, No. 28, July 12, 2024
Appraisal reviewers must hold an appropriate Illinois appraisal
				license in order to develop and communicate any review that is not limited to a
				quality control review.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.140 - Uniform Standards of Professional Appraisal Practice (USPAP)

Current through Register Vol. 48, No. 28, July 12, 2024
a) Pursuant to
			 Section 160 of the Act, the 2012 USPAP, published by the Appraisal Standards
			 Board of The Appraisal Foundation, 1155 15th Street,
			 NW, Suite 1111, Washington DC 20005 (effective January 1, 2012), are hereby
			 incorporated by reference with no later amendments or editions.
b) All investigators, coordinators, auditors
			 and examiners employed or retained by the Division are exempt from the
			 requirements of USPAP Standard 3 while performing an investigation, audit or
			 examination.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.150 - Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
The Division may require a registrant, pursuant to a compliance
				agreement or order, to provide any reports, records or other documents
				pertaining to appraisal management activity that the Division may deem
				necessary to maintain standards of professional conduct, the competency of a
				registrant, and the protection of the public.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.160 - Administrative Warning Letter

Current through Register Vol. 48, No. 28, July 12, 2024
The Division may issue an administrative warning letter, as a
				form of non-disciplinary action authorized by Section 65 of the Act, with or
				without a compliance agreement that may include a fee allowed by Section
				1452.200(e)(8).
				A compliance agreement may include conditions designed to maintain the
				standards of professional conduct, competency of a registrant and protection of
				the public. Administrative warning letters, with or without a compliance
				agreement, are not discipline and are not subject to the Freedom of Information
				Act [5 ILCS 140 ].
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.170 - Cooperation Required with the Division

Current through Register Vol. 48, No. 28, July 12, 2024
Pursuant to Section 65 of the Act, all registrants are required
				to fully cooperate with any audit, investigation, interrogatory, examination or
				request for information regarding any aspect of the registrant's appraisal
				management practice or application for registration. Full cooperation includes,
				but is not necessarily limited to, providing to the Division, within 30 days
				after its request, a complete answer to any written interrogatory or request
				for clarification submitted to a registrant or employee of the
				registrant.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.180 - Felony Convictions; Discipline of Other Professional Registration; Notification

Current through Register Vol. 48, No. 28, July 12, 2024
a) A
			 registrant shall notify the Division in writing of any violation of Section
			 65(a)(3) of the Act relating to the registrant or the registrant's designated
			 controlling person. This written notice shall be submitted within 30 days after
			 the violation. In addition to the notice, the registrant shall provide to the
			 Division all court records (including, but not limited to, indictments,
			 information, plea agreements, pre-trial sentencing motions, investigations,
			 judgment and sentencing orders and other orders) and other information required
			 by the Division to determine fitness for registration.
b) A registrant that has a registration
			 issued by another state or jurisdiction disciplined or the registrant's
			 designated controlling person has a professional license disciplined as defined
			 in Section 65(a)(10) of the Act shall notify the Division in writing within 30
			 days after any adverse temporary or final order. In addition to the notice, the
			 registrant shall provide to the Division all adverse orders, whether by consent
			 or otherwise, plea agreements, motions or pleadings in which a registrant has
			 made a written statement or admission of culpability in the violation of a
			 professional regulation or standard, or other information required by the
			 Division to determine fitness for registration.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.190 - Unprofessional Conduct

Current through Register Vol. 48, No. 28, July 12, 2024
"Dishonorable, unethical or unprofessional conduct" as used in
				Section 65(a)(9) of the Act includes but is not limited to:
a) Failing to satisfy a material term of a
			 consent to administrative supervision order or consent order;
b) Altering, modifying or otherwise changing
			 a completed appraisal report submitted by an independent appraiser;
c) Failure to retain records described in
			 Section
			 1452.90;
d) Operating without an approved designated
			 controlling person;
e) Operating
			 without an approved Temporary Certificate of Authority, when
			 required;
f) Engaging appraisal
			 practice services from any licensed or certified Illinois appraiser who is not
			 in good standing with the Division without utilizing a process of verifying the
			 status of the appraiser by contacting the Department or utilizing the National
			 Registry of the Appraisal Subcommittee;
g) Failing to provide a written, definitive
			 payment policy as outlined in Section
			 1452.100;
h) Requesting or requiring an appraiser to
			 transmit an unsigned assignment result;
i) Deliberately interfering with a licensed
			 Illinois appraiser's ability to comply with USPAP;
j) Failing to deliver all information that
			 supports a change in property value to a licensed Illinois appraiser without
			 good cause;
k) Failing to register
			 within 180 calendar days after adoption of this Part and/or continuing to act
			 as an appraisal management company while not lawfully registered;
l) Misrepresenting client guidelines or
			 assignment criteria as a requirement of federal or state statute without proper
			 citation to the statute or regulation.
m) Restricting the engagement of an Illinois
			 licensed appraiser for an appraisal assignment solely on the licensee's level
			 of licensure except as required or prohibited by the Real Estate Appraiser
			 Licensing Act of 2002 [225 ILCS 458 ].
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.200 - Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) The application
			 fee for an initial registration as an appraisal management company shall be
			 $2,500.
b) Renewal Application Fee
			 for Appraiser Registration
1) The application
			 fee to renew a registration as an appraisal management company shall be $2,000
			 per year.
2) The fee to reinstate a
			 registration that has expired shall be $500 plus the sum of all lapsed renewal
			 fees.
3) The fee to restore a
			 registration that has been expired for more than 5 years shall be $2,000 plus
			 the sum of all lapsed renewal fees.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.210 - Granting Variances

Current through Register Vol. 48, No. 28, July 12, 2024
The Director may grant variances from this Part in individual
				cases when the Director finds that:
a)
			 The provision from which the variance is granted is not statutorily
			 mandated;
b) No party will be
			 injured by granting the variance; and
c) The rule from which the variance is
			 granted would, in the particular case, be unreasonable or unnecessarily
			 burdensome.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1452 - APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT › Section 1452.220 - AMC National Registry Fees

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 Department will send notice, including a request for information, to each AMC
			 regarding payment of AMC National Registry fees on or before April 1 of each
			 calendar year. The notice will outline the reporting period and include
			 instructions for the collection of those fees. The Department may also post the
			 forms necessary to provide the required information on its website. Failure to
			 receive notice from the Department regarding annual payment of AMC National
			 Registry fees does not relieve an AMC from submitting the required information
			 and paying the applicable AMC National Registry fee in a timely manner, as
			 required by subsection (c).
b) Fees
			 shall be calculated based upon each 12-month calendar period beginning May 1
			 and ending April 30. Fees shall be remitted and received by the Department no
			 later than July 1 to ensure that the Department is able to include the AMC on
			 the national registry submission sent to the Appraisal Subcommittee.
c) Annually, no later than July 1, AMCs
			 operating in Illinois, including registered AMCs and federally-regulated AMCs
			 operating in Illinois, shall:
1) Provide
			 information to the Department necessary to support its calculation of the size
			 of its appraiser panel and the determination of its applicable AMC National
			 Registry fee.
2) Submit fees in the
			 following amounts to the Department:
A) In the
			 case of an AMC that has been in existence for more than a year, and oversees an
			 appraiser panel of 16 or more State-certified appraisers in Illinois or 25 or
			 more State-certified or State-licensed appraisers in 2 or more jurisdictions,
			 $25 multiplied by the number of appraisers who have performed an appraisal for
			 the AMC in connection with a covered transaction in Illinois during the
			 previous fee calculation period; or
B) In the case of an AMC that has not been in
			 existence for more than a year, and oversees an appraiser panel of 16 or more
			 State-certified appraisers in Illinois or 25 or more State-certified or
			 State-licensed appraisers in 2 or more jurisdictions, $25 multiplied by the
			 number of appraisers who have performed an appraisal for the AMC in connection
			 with a covered transaction in Illinois since the AMC commenced doing
			 business.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart B - LICENSING REQUIREMENTS › Section 1455.100 - Application for a State Certified General Real Estate Appraiser License and a State Certified Residential Real Estate Appraiser License; Application for an Associate Real Estate Trainee Appraiser License; Application by Non-Resident for Licensure by Endorsement

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each applicant for a State Certified
				General Real Estate Appraiser License and a State Certified Residential Real
				Estate Appraiser License shall submit to the Division:
1) An application, provided by the Division
				and signed by the applicant, on which all questions have been
				answered;
2) The fee required by
				Section
				1455.320;
3) Proof of successful completion of the
				qualifying education requirements as provided by Section
				1455.150;
4) A score report/application that provides
				proof of successful completion of the qualifying education and experience
				requirements as provided by Subparts C and D;
5) Proof of successful completion of the
				examination authorized by the Division and endorsed by the AQB; and
6) Satisfactory completion of a criminal
				background check, as required by Section 5-22 of the Act.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart B - LICENSING REQUIREMENTS › Section 1455.110 - Application for Renewal of State Certified General Real Estate Appraiser License, State Certified Residential Real Estate Appraiser License, and Associate Real Estate Trainee Appraiser License; Late Renewal of State Certified General Real Estate Appraiser License, State Certified Residential Real Estate Appraiser License, and Associate Real Estate Trainee Appraiser License; Reinstatement of State Certified General Real Estate Appraiser License, State Certified Residential Real Estate Appraiser License, and Associate Real Estate Trainee Appraiser License; Application for Military Deferral; Expiration Date

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each applicant
				for renewal of a State Certified General Real Estate Appraiser License, State
				Certified Residential Real Estate Appraiser License, and Associate Real Estate
				Trainee Appraiser License shall submit to the Division:
1) An application, provided by the Division
				and signed by the applicant, on which all questions have been
				answered;
2) The fee required by
				Section
				1455.320;
3) Proof of successful completion of the
				continuing education requirements as provided by Subpart C; and
4) Satisfactory completion of a criminal
				background check, as required by Section 5-22 of the Act.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart B - LICENSING REQUIREMENTS › Section 1455.120 - Conversion of a State Licensed Real Estate Appraiser License to an Associate Real Estate Appraiser License; Late Conversion; No Issuance of State Licensed Real Estate Appraiser License (Repealed)

Current through Register Vol. 48, No. 28, July 12, 2024
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart B - LICENSING REQUIREMENTS › Section 1455.130 - Application for Temporary Practice Permit; Term of Permit; Scope of Practice; Regulatory Responsibility; Notice

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each non-resident applicant for a
				temporary practice permit issued pursuant to Section 5-50 of the Act shall
				submit to the Division:
1) An application,
				provided by the Division and signed by the applicant, on which all questions
				have been answered;
2) A
				certification of good standing from the jurisdiction of the applicant's place
				of residence or by a search by the Division of the ASC National
				Registry;
3) The fee required by
				Section
				1455.320; and
4) Satisfactory completion of a criminal
				background check, as required by Section 5-22 of the Act.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart B - LICENSING REQUIREMENTS › Section 1455.140 - Issuance of Certificate to Real Estate Appraisers; Temporary Practice Permits

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Division shall issue a certificate of licensure to all real estate appraisers
				approved for licensure under the Act and this Part. The certificate shall
				include the name, license number, address and rank of the real estate appraiser
				and the date of expiration.
b) The
				Division shall issue a certificate for a temporary practice permit to all real
				estate appraisers approved to practice on a temporary permit. The certificate
				shall include the name, temporary practice permit number and address of the
				real estate appraiser and the expiration date of the temporary practice
				permit.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart D - EXPERIENCE REQUIREMENTS › Section 1455.170 - Experience Requirements for a State Certified General Real Estate Appraiser License

Current through Register Vol. 48, No. 28, July 12, 2024
Any person who makes application for a State Certified
				  General Real Estate Appraiser License shall be required, as a pre-requisite to
				  examination, to provide evidence of obtaining 3,000 hours of appraisal
				  experience during no fewer than 30 months, of which 1,500 hours shall be in
				  non-residential appraisal work, and shall submit such evidence to the Division
				  as required by Section
				  1455.190.
				  The total number of submitted appraisal experience hours shall not exceed
				  4,000.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart D - EXPERIENCE REQUIREMENTS › Section 1455.180 - Experience Requirements for a State Certified Residential Real Estate Appraiser License

Current through Register Vol. 48, No. 28, July 12, 2024
Any person who makes application for a State Certified
				  Residential Real Estate Appraiser License shall be required, as a pre-requisite
				  to examination, to provide evidence of obtaining no less than 1,500 hours of
				  appraisal experience during no fewer than 12 months and shall submit that
				  evidence to the Division as required by Section
				  1455.190.
				  Waiver valuations prepared in accordance with Section 5-5 of the Act shall not
				  be counted toward appraisal experience credit for any credential
				  classification. The total number of submitted appraisal experience hours shall
				  not exceed 3,500.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart D - EXPERIENCE REQUIREMENTS › Section 1455.190 - Verification of Experience Credit

Current through Register Vol. 48, No. 28, July 12, 2024
All applicants shall verify experience credit on forms
				  provided by the Division. Those forms shall include information on the type of
				  property, date of report, address of appraised property, description of work
				  performed and number of work hours. The Division may audit such verification
				  and, if requested, the applicant must provide experience documentation in the
				  form of reports or file memoranda and should support the experience claimed.
				  The Division, at its discretion, will determine the validity of all appraisal
				  experience credit in conformity with criteria recommended by the AQB. All
				  experience must be USPAP compliant. An applicant's experience must be in
				  appraisal work conforming to Standards 1, 2, 3, 4, 5 and/or 6 in which the
				  appraiser demonstrates proficiency in appraisal principles, methodology,
				  procedures (development), and reporting conclusions.
a) For applicants intending to upgrade to a
				State Certified Residential Real Estate Appraiser License:
1) No more than 30% of the residential
				experience shall be claimed for appraisal review or appraisal consulting
				assignments.
2) No more than 30% of
				the residential experience shall be claimed for the appraisal of vacant
				land.
3) No more than 30% of the
				total experience shall be non-residential assignments.
4) No less than 50% of the total experience
				submitted shall contain signed certifications by the applicant.
5) All experience logs must contain original
				signatures.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart D - EXPERIENCE REQUIREMENTS › Section 1455.195 - Acceptable Experience Credit and Request for Reconsideration

Current through Register Vol. 48, No. 28, July 12, 2024
If experience has been approved or disapproved by the
				  Division, and the applicant disagrees with the number of experience credit
				  hours awarded, the applicant may, within 14 days after the Division's written
				  notice, request in writing that the Division reconsider its determination. The
				  request must indicate the number of hours of experience credit that the
				  applicant believes is appropriate and must explain in detail why the applicant
				  disagrees with the Division's decision. Review of any such request for
				  reconsideration will be performed by one or more members of the Real Estate
				  Appraisal Administration and Disciplinary Board. The Board shall then submit to
				  the Division its recommendation for final action.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart D - EXPERIENCE REQUIREMENTS › Section 1455.200 - Acceptable Appraisal Experience Credit

Current through Register Vol. 48, No. 28, July 12, 2024
a) Acceptable appraisal experience shall
				include, but is not limited to, fee and staff appraisal, ad valorem tax
				appraisal, condemnation appraisal, review appraisal, appraisal analysis,
				highest and best use analysis, and feasibility analysis/study. All appraisal
				experience shall conform to USPAP and shall meet the requirements of the AQB.
				All experience credit must have been obtained after January 30, 1989.
b) Appraisal education may not be substituted
				for appraisal experience, except for practicum courses approved by the AQB
				Course Approval Program and/or the Division.
c) A traditional client is not necessary for
				an appraisal to qualify for appraisal experience. Experience gained for work
				without a traditional client cannot exceed 50% of the total experience
				requirement. An hour of appraisal experience is defined as verifiable time
				spent in performing tasks in accordance with acceptable appraisal experience as
				identified by the Real Property Appraiser Qualification Criteria.
d) Time spent in travel to and from the
				subject property and to other data sources shall not count toward appraisal
				experience.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.205 - Record Keeping Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Licensees must retain any communication, including but not
				  limited to written, oral or web form, of an appraisal, appraisal review or
				  appraisal service that is transmitted to the client upon completion of an
				  assignment for a period of at least five years, or at least two years after
				  final disposition of any administrative or judicial proceeding in which the
				  appraiser provided testimony related to the assignment, whichever period
				  expires last.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.210 - Notification of Name Change

Current through Register Vol. 48, No. 28, July 12, 2024
It is the responsibility of each licensee issued a license
				  under the Act to notify the Division, on forms provided by the Division, within
				  15 days after any change of name. For example, if the licensee has had a name
				  change either by court order or due to a change in marital status, the licensee
				  shall notify the Division of the name change, together with a certified copy of
				  the marriage certificate or portions of the court order relating to the name
				  change, and indicate under which name the license shall be
				  issued.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.220 - Assumed Name

Current through Register Vol. 48, No. 28, July 12, 2024
If a licensee operates under any name other than that
				  appearing on his or her license, he or she shall submit to the Division a
				  certified copy of his or her registration under the Assumed Business Name Act
				  [805 ILCS 405 ] at the time of application or within 30 days after the
				  registration.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.230 - Address Change; Street Address

Current through Register Vol. 48, No. 28, July 12, 2024
It is the responsibility of the licensee to notify the
				  Division, on forms provided by the Division, of a change of address, e-mail
				  address, or website address or addresses within 15 days after the change. The
				  licensee shall provide a street address of the licensee's residence or business
				  location. The licensee's address of record shall not be a Post Office Box or a
				  mailbox located within a retail postal business.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.240 - Uniform Standards of Professional Appraisal Practice (USPAP)

Current through Register Vol. 48, No. 28, July 12, 2024
a) Pursuant to
				Section 10-10 of the Act, the 2020-2021 USPAP are hereby incorporated by
				reference with no later amendments or editions.
b) All real estate appraisers licensed under
				the Act shall practice in accordance with USPAP except where the standards are
				contrary to Illinois law or public policy (USPAP, Jurisdictional
				Exception).
c) All investigators,
				board members, auditors and examiners employed or retained by the Division are
				exempt from the requirements of USPAP Standard 3 while performing an
				investigation, audit or examination.
d) If the Division files a formal complaint
				alleging violations of USPAP, a USPAP Standard 3 review shall be utilized by
				the Division at a formal hearing. The Division may limit the scope of the USPAP
				Standard 3 review to exclude valuation.
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart E - BUSINESS PRACTICES; STANDARDS AND SCOPE OF PRACTICE › Section 1455.245 - Scope of Property Condition Inspections by Real Estate Appraisers

Current through Register Vol. 48, No. 28, July 12, 2024
Licensed real estate appraisers may include in an appraisal
				  report comments on the condition of the property that affect property value,
				  including physical deficiencies, adverse conditions and renovations, based on
				  observations by the licensed real estate appraiser during the appraisal of the
				  property. Licensed real estate appraisers may not provide these comments for
				  compensation, or with the expectation of receiving compensation, directly or
				  indirectly, as a substitute for a home inspection, or a home inspection report,
				  prepared by a licensed home inspector. All appraisal reports of a property that
				  is 1 to 4 residential units prepared by licensed real estate appraisers must
				  include the following statement: "The comments by the licensed real estate
				  appraiser contained within this appraisal report on the condition of the
				  property do not address "standards of practice" as defined in the Home
				  Inspector License Act [225 ILCS 441 ] and 68 Ill. Adm. Code 1410 and are not to
				  be considered a home inspection or home inspection report."
Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1455 - REAL ESTATE APPRAISER LICENSING › Subpart F - ENFORCEMENT PROVISIONS › Section 1455.250 - Appraiser Responsibilities as Relating to Appraisal Management Companies

Current through Register Vol. 48, No. 28, July 12, 2024
Pursuant to Section 15-10(a) of the Act, failure to comply
				  with any of the following shall be considered a violation and may subject a
				  licensee to discipline as provided for in the Act and this Part:
a) An appraiser shall identify an appraisal
				management company as the client if the appraisal management company is
				engaging the appraiser.
b) An
				appraiser shall not provide appraisal practice service to an appraisal
				management company unless the appraisal management company is lawfully
				registered in Illinois pursuant to Section 20 of the Appraisal Management
				Company Registration Act [225 ILCS 459 ] and 68 Ill. Adm. Code 1452.
c) When an appraisal management company
				engages:
1) An independent appraiser by
				employment or contract for a specific assignment, the appraiser shall
				prominently display the appraisal fee received from the appraisal management
				company in the certification as follows: "The compensation for this appraisal
				assignment is $_____."
2) An
				employee appraiser for a specific assignment, the appraiser shall prominently
				display the appraisal fee received from the appraisal management company in the
				certification as follows: "The compensation for this appraisal assignment is
				$_____."
3) An employee appraiser
				who receives a salary and does not receive a fee for the assignment, the
				employee appraiser shall prominently display the following language: "The
				appraiser is a salaried employee and received no appraisal fee for the
				assignment."
4) An appraiser for a
				specific assignment, the appraiser shall prominently display the appraisal
				management company's Illinois registration number and expiration date as
				follows: "The appraisal management company's Illinois registration number is
				________ and it expires on (month/day/year)."