(1)In addition to all other
powers and duties imposed upon it by law, the board has the following powers and
duties:
(a)(I) To promulgate and amend, as necessary, rules pursuant to article 4 of
title 24 for the implementation and administration of this part 6 and as required to
comply with the federal Real Estate Appraisal Reform Amendments, Title XI of
the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989,
as amended, 12 U.S.C. secs. 3331 to 3351, and with any requirements imposed by
amendments to that federal law.
(II)The board shall not establish any requirements that are more stringent
than the requirements of any applicable federal law.
(III)Licensed ad valorem appraisers are not regulated by the federal Real
Estate Appraisal Reform Amendment
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(1) In addition to all other
powers and duties imposed upon it by law, the board has the following powers and
duties:
(a) (I) To promulgate and amend, as necessary, rules pursuant to article 4 of
title 24 for the implementation and administration of this part 6 and as required to
comply with the federal Real Estate Appraisal Reform Amendments, Title XI of
the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989,
as amended, 12 U.S.C. secs. 3331 to 3351, and with any requirements imposed by
amendments to that federal law.
(II) The board shall not establish any requirements that are more stringent
than the requirements of any applicable federal law.
(III) Licensed ad valorem appraisers are not regulated by the federal Real
Estate Appraisal Reform Amendments, Title XI of the federal Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, 12 U.S.C.
secs. 3331 to 3351, but the board shall adopt rules regarding minimum
qualifications and standards of practice for licensed ad valorem appraisers.
(IV) In any list or registry it maintains, the board shall identify or separately
account for any appraisal management company that oversees a panel of more
than fifteen certified or licensed appraisers in Colorado, or twenty-five or more
certified or licensed appraisers in all states in which it does business, within a given
year.
(b) To charge application, examination, and license and certificate renewal
fees established pursuant to section 12-10-215 from all applicants for licensure,
certification, examination, and renewal under this part 6. The board shall not refund
any fees received from applicants seeking licensure, certification, examination, or
renewal.
(c) Through the department and subject to appropriations made to the
department, to employ administrative law judges, appointed pursuant to part 10 of
article 30 of title 24, on a full-time or part-time basis to conduct any hearings
required by this part 6;
(d) To issue, deny, or refuse to renew a license or certificate pursuant to this
part 6;
(e) To take disciplinary actions in conformity with this part 6;
(f) To delegate to the director the administration and enforcement of this
part 6 and the authority to act on behalf of the board on occasions and in
circumstances that the board directs;
(g) (I) To develop, purchase, or contract for any examination required for the
administration of this part 6, to offer each examination at least twice a year or, if
demand warrants, at more frequent intervals, and to establish a passing score for
each examination that reflects a minimum level of competency.
(II) If study materials are developed by a testing company or other entity, the
board shall make the materials available to persons desiring to take examinations
pursuant to this part 6. The board may charge fees for the materials to defray any
costs associated with making the materials available.
(h) In compliance with article 4 of title 24, to make investigations; subpoena
persons and documents, which subpoenas may be enforced by a court of
competent jurisdiction if not obeyed; hold hearings; and take evidence in all matters
relating to the exercise of the board's power under this part 6;
(i) Pursuant to section 1119 (b) of Title XI of the federal Financial Institutions
Reform, Recovery, and Enforcement Act of 1989, Pub.L. 101-73, as amended, to
apply, if necessary, for a federal waiver of the requirement relating to certification
or licensing of a person to perform appraisals and to make the necessary written
determinations specified in that section for purposes of making the application; and
(j) If the board has reasonable cause to believe that a person, partnership,
limited liability company, or corporation is violating this part 6, to enter an order
requiring the individual or appraisal management company to cease and desist the
violation.
(k) Repealed.
(2) The board shall maintain or preserve, for seven years, licensing history
records of a person licensed or certified under this part 6. Complaints of record in
the office of the board and board investigations, including board investigative files,
are closed to public inspection. Stipulations and final agency orders are public
record and are subject to sections 24-72-203 and 24-72-204.