§ 43-39a-7 — Applications for appraiser classification; registration; confidentiality

Georgia § 43-39a-7

• Jurisdiction: Georgia
• Title: 43

Text

(a) Any person desiring to act as a real estate appraiser must file an application for an appraiser classification with the board. All original and subsequent applications filed with the board shall be in such form and detail as the board shall prescribe, setting forth the following: (1) The name and address of the applicant and the name under which the applicant intends to conduct business; (2) The place or places, including the city with the street and street number, if any, where the business is to be conducted; and (3) Such other information as the board shall require. (b) (1) No person shall directly or indirectly engage or attempt to engage in business as an appraisal management company, directly or indirectly engage or attempt to perform appraisal management services, or advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration issued by the board. (2) The registration required by paragraph (1) of this subsection shall: (A) Be subject to the ownership limitations set forth in subsection (a) of Code Section 43-39A-14.1 ; (B) Apply only to an appraisal management company that is not owned and controlled by an insured depository institution and not regulated by a federal financial institutions regulatory agency; (C) Provide the name of the entity seeking registration; (D) Provide the business address of the entity seeking registration which must be located and maintained within this state; (E) Provide the telephone contact information and the email address of the entity seeking registration; (F) If the entity is not a corporation that is domiciled in this state, provide the name and contact information for the company's agent for service of process in this state; (G) Provide the name, address, and contact information for any individual or any corporation, partnership, or other business entity that owns 10 percent or more of the appraisal management company; (H) Provide the name, address, and contact information for a designated controlling person to be the primary communication source for the board; (I) Provide a certification that the entity has a system and process in place to verify that a person being added to the appraiser panel of the appraisal management company for appraisal services to be performed in Georgia holds a license or certification in good standing in Georgia pursuant to this chapter. Additionally, the board shall be authorized to verify that the appraisers on the appraisal management company's appraiser panel hold a valid Georgia classification; (J) Provide a certification that the entity has a system in place to review the work of all appraisers who are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with the standards for real estate appraisals established by the board; (K) Provide a certification that the entity maintains a detailed record of each service request that it receives for appraisal services within the State of Georgia and the name, address, and telephone number of the appraiser who performs the requested real estate appraisal services for the appraisal management company; (L) Require an irrevocable consent to service of process; and (M) Require any such other information as the board shall seek. (3) The board shall issue a unique registration number to each appraisal management company. (4) The board shall publish annually a list of the appraisal management companies that have registered pursuant to this chapter and have been issued a registration number. (5) An appraisal management company shall be required to disclose the registration number on each engagement letter utilized in assigning an appraisal request for real estate appraisal assignments within the State of Georgia. (b.1) Any employee or independent contractor of an appraisal management company who performs appraisal review services must be an individual who holds a valid appraiser license or certification issued pursuant to this chapter. (c) Notwithstanding any provision of Article 4 of Chapter 18 of Title 50 to the contrary, all applications, including supporting documents and other personal information submitted by applicants, classified appraisers, and appraisal management companies as part of an application filed with the board, shall be confidential. The board shall deem as public records the following information and shall make such information reasonably available for inspection by the general public: an appraiser's name, classification number and status, business name, business address, business telephone number, type of classification held, and term of classification; the fact that an appraiser has or has not received a disciplinary sanction; and such other information pertaining to the classification of an appraiser or approval of a school, course, or instructor as the board may determine by rule.

Legislative History

Amended by 2019 Ga. Laws 241,§ 2, eff. 7/1/2019. Amended by 2010 Ga. Laws 552,§ 4, eff. 7/1/2010.