This text of North Dakota § 43-23.3-01 (Definitions) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
As used in this chapter, unless the context otherwise requires:
1."Agency" means the:
a.Board of governors of the federal reserve system;
b.Consumer financial protection bureau;
c.Farm credit administration;
d.Federal deposit insurance corporation;
e.National credit union administration;
f.Office of the comptroller of the currency; and
g.State financial regulator.
2."Analysis" means a study of real estate other than estimating value.
3."Appraisal" means an analysis, opinion, or conclusion relating to the nature, quality,
value, or utility of specified interests in, or aspects of, real estate. An appraisal may be
classified by subject matter into either a valuation or an analysis. The term does not
include an evaluation.
4."Appraisal assignment" means an engagement for which a pe
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As used in this chapter, unless the context otherwise requires:
1. "Agency" means the:
a. Board of governors of the federal reserve system;
b. Consumer financial protection bureau;
c. Farm credit administration;
d. Federal deposit insurance corporation;
e. National credit union administration;
f. Office of the comptroller of the currency; and
g. State financial regulator.
2. "Analysis" means a study of real estate other than estimating value.
3. "Appraisal" means an analysis, opinion, or conclusion relating to the nature, quality,
value, or utility of specified interests in, or aspects of, real estate. An appraisal may be
classified by subject matter into either a valuation or an analysis. The term does not
include an evaluation.
4. "Appraisal assignment" means an engagement for which a person is employed or
retained to act, or would be perceived by the public as acting, as a disinterested party
in rendering an unbiased supportable appraisal.
5. "Appraisal foundation" means the appraisal foundation incorporated as an Illinois
corporation on November 30, 1987.
6. "Appraisal report" means any communication of an appraisal.
7. "Appraisal subcommittee" means the appraisal subcommittee of the federal financial
institutions examination council.
8. "Appraiser" means a person who engages in appraisal activity for valuable
consideration.
9. "Apprentice appraiser" means a person who holds a valid permit as an apprentice
appraiser.
10. "Board" means the North Dakota real estate appraiser qualifications and ethics board.
11. "Certified appraiser" means a person who holds a valid permit as a certified residential
or general appraiser.
12. "Certified general appraiser" means a person who holds a valid permit as a certified
general appraiser.
13. "Certified residential appraiser" means a person who holds a valid permit as a certified
residential appraiser.
14. "Evaluation" means an estimate of the value of real property and real estate made in
accordance with title XI of the Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 [Pub. L. 101-73, 103 Stat. 183] and provided to an entity
regulated by an agency for use in a real estate-related financial transaction for which
an appraisal is not required by federal law.
15. "Licensed appraiser" means a person who holds a valid permit as a licensed
appraiser.
16. "Permit" means the document issued by the board, verifying that the person named on
the permit has fulfilled all prerequisites to practice either as an apprentice appraiser, a
licensed appraiser, or a certified appraiser.
17. "Real estate" means an identified parcel or tract of land including improvements, if any.
18. "Real property" means one or more defined interests, benefits, and rights inherent in
the ownership of real estate.
19. "Uniform standards of professional appraisal practice" means standards of appraisal
promulgated by the appraisal standards board of the appraisal foundation as adopted
by the board.
20. "Valuation" means an estimate of the value of real estate or real property.