California Code of Regulations › Title 10 - Investment › Chapter 6.5 - Bureau of Real Estate Appraisers › Article 1 - Definitions › Section 3500 - Meaning of Words and General Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Words shall have their usual meaning
				unless the context or a definition clearly indicates a different meaning. Words
				used in their present tense include the future tense and words in the singular
				form include the plural form. Use of the word "shall" or "must" denotes
				mandatory conduct; "may" denotes permissive conduct; and "should" denotes
				recommended conduct.
(b) As used in
				these regulations, the following words and phrases shall have the following
				definitions:
(1) "Applicant" means a natural
				person who has made application to be a State Licensed Real Estate Appraiser, a
				State Certified Real Estate Appraiser, a Course Provider or a person who has
				applied for a Trainee License, a Reciprocal License or a Temporary Practice
				Permit. Applicant also means an entity or Controlling Person that has applied
				for a Certificate of Registration as an Appraisal Management Company;
(2) "Appraisal management company" means any
				person or entity as defined in Business and Professions Code section
				11302.
(3) "Appraisal management services" as
				defined in Business and Professions Code section
				11302.
(4) "Appraisal Standards Board (ASB)" means
				the board of The Appraisal Foundation;
(5) "Appraisal Subcommittee (ASC)" means the
				Appraisal Subcommittee of the Federal Financial Institutions Examination
				Council;
(6) "Appraiser" means an
				individual who holds a license issued by the Bureau of Real Estate
				Appraisers;
(7) "Appraiser
				Qualifications Board (AQB)" means the subcommittee of The Appraisal Foundation.
				The "Appraiser Qualifications Board" (AQB) is the board of The Appraisal
				Foundation which promulgates the minimum national requirements for licensure
				for licensed appraisers. The minimum national requirements include the
				interpretations and clarifications of the appraiser qualifications criteria
				issued by AQB;
(8) "Asynchronous"
				means any distance education course where course instruction and licensee
				participation in the course do not occur simultaneously and that requires
				completing and passing an assessment or examination of the course content at
				the conclusion of course instruction.
(9) "Bias" means basing, either partially or
				completely, an analysis or opinion of market value upon any of the personal
				characteristics or criteria listed in Section
				11424
				of the Business and Professions Code.
(10) "BREA" means the California Bureau of
				Real Estate Appraisers;
(11)
				"Bureau" means the California Bureau of Real Estate Appraisers;
(12) "Certificate of Registration" means a
				certificate issued by the California Bureau of Real Estate Appraisers verifying
				the registration of a person or entity as approved to conduct business in
				California as an Appraisal Management Company.
(13) "Chief" means the Chief of BREA or their
				designee;
(14) "Controlling Person"
				means one or more of the following:
(A) An
				officer or director of an Appraisal Management Company, or an individual that
				holds 10% or greater ownership interest in an Appraisal Management
				Company.
(B) An individual
				employed, appointed or authorized by an Appraisal Management Company that has
				the authority to enter into a contractual relationship with clients for the
				performance of appraisal services and that has the authority to enter into
				agreements with independent appraisers for the completion of
				appraisals.
(C) An individual who
				possesses the power to direct or cause the direction of the management or
				policies of an Appraisal Management Company.
(15) "Course Provider" means a person or
				organization that has been approved by the Bureau of Real Estate Appraisers to
				provide educational courses within the parameters set forth herein.
(16) "Designated Officer" means a Controlling
				Person authorized by the governing structure of the Appraisal Management
				Company to act on behalf of the company for purposes of application for, and
				compliance with, a Certificate of Registration to operate as an Appraisal
				Management Company pursuant to California law. The Designated Officer shall be
				responsible for the supervision and control of activities conducted on behalf
				of the Appraisal Management Company by its officers and employees as necessary
				to secure full compliance with the Real Estate Appraisers' Licensing and
				Certification Law and these regulations as related to Appraisal Management
				Companies.
(17) "Distance
				Education" means transmission of instruction to students at a location separate
				from the educational provider's location.
(18) "FIRREA" means the Financial
				Institutions Reform, Recovery and Enforcement Act of 1989,
				Public Law
				101-73 and any amendments thereto;
(19) "Non-residential property" means all
				other property except one to four unit residential structures and land suitable
				for one to four unit residential use;
(20) "Registrant" means a person or entity
				authorized to conduct business as an Appraisal Management Company in California
				through issuance of a Certificate of Registration by the California Bureau of
				Real Estate Appraisers.
(21)
				"Registration" means the procedures and requirements with which a person or
				entity shall comply in order to qualify to conduct business as an Appraisal
				Management Company;
(22)
				"Residential property" means real property containing, and land suitable for,
				four or fewer residential units.
(23) "Synchronous Distance Education" means
				any distance education course and any form of systematic learning where the
				instructor and students interact simultaneously.
(24) "Uniform Standards of Professional
				Appraisal Practice; (USPAP)" means those standards as adopted by the Appraisal
				Standards Board of the Appraisal Foundation.