§ 17-14-102 — Necessity for registration, license, or certificate

(a) (1) The Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., is created in response to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and specifies three (3) classes of appraisers: state-licensed, state-certified residential, and state-certified general appraisers for federally related transactions. (2) A fourth class is created for nonfederally related transactions, which shall be known as "state-registered appraisers". (3) A fifth class is created for an appraiser who is subject to direct control and supervision by a qualified state-certified appraiser supervisor as part of upgrading his or her classification to state-licensed or state-certified, which shall be known as "registered apprentice appraiser". (b) It is the intent of the General Assembly that this law be no more restrictive than required under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

Legislative History

Amended by Act 2019, No. 514,§ 1, eff. 7/24/2019. Acts 1991, No. 416, §§ 7, 13; 1991, No. 541, §§ 7, 13; 1993, No. 413, § 1; 2001, No. 1256, § 1; 2009, No. 628, § 3.