§ 543D.5 — Powers of the board

Iowa § 543D.5

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 543D: REAL ESTATE APPRAISALS AND APPRAISERS

Text

1. The board shall adopt rules establishing uniform appraisal standards and appraiser
certification requirements and other rules necessary to administer and enforce this chapter
anditsresponsibilitiesunderchapter272C,subjecttothedirector’ssupervisionandauthority
undersection543D.23. Theboardshallconsiderandmayincorporateanystandardsrequired
orrecommendedbytheappraisalfoundationorbyafederalagencywithregulatoryauthority
over appraisal standards or the certification of appraisers for federally related transactions.
2. The uniform appraisal standards shall meet all of the following requirements:
a. Require compliance with federal law and appraisal standards adopted by federal
authorities as they apply to federally related transactions. This paragraph does not require
that an appraiser invoke a jurisdictional exception to the uniform standards of professional
appraisal practice in order to comply with federal law and appraisal standards adopted by
federal authorities as they apply to federally related transactions, unless federal law requires
that the exception be invoked.
b. Develop standards for the scope of practice for certified real estate appraisers.
c. Required compliance with the uniform standards of professional appraisal practice in
all appraisal assignments.
3. Appraiser certification requirements shall require a demonstration that the applicant
has a working knowledge of current appraisal theories, practices, and techniques which will
provide a high degree of service and protection to members of the public dealt with in a
§543D.5, REAL ESTATE APPRAISALS AND APPRAISERS 4
professional relationship under authority of the certification. The board shall establish the
examination specifications for each category of certified real estate appraiser, provide or
procure appropriate examinations, establish procedures for grading examinations, receive
and approve or disapprove applications for certification, and issue certificates.
4. The board shall maintain a registry of the names and certificate numbers of appraisers
certified under this chapter and the names and registration numbers of associate appraisers
registered under this chapter.
5. Notwithstanding any provision to the contrary, the provisions in section 10A.506,
subsections 6 through 12, shall apply to the board and to activities governed under this
chapter.