North Dakota Administrative Code Title 101 - Real Estate Appraiser Qualifications and Ethics Board
Certainly! Here's a detailed overview of North Dakota Administrative Code (NDAC) Title 101, which governs the Real Estate Appraiser Qualifications and Ethics Board:
🏛️ What Is NDAC Title 101?
Title 101 establishes the regulatory framework for the North Dakota Real Estate Appraiser Qualifications and Ethics Board, a state agency responsible for overseeing the licensing, certification, and ethical conduct of real estate appraisers in North Dakota. This board ensures compliance with both state laws and federal standards, particularly those outlined in the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA).
📜 Structure of Title 101
Title 101 is organized into five main articles:
Article 101-01 – General Administration
Board Organization: The board comprises five members appointed by the governor: one public representative, one financial industry representative, and three appraisers (at least two certified). Members serve five-year terms.
Executive Director: Appointed by the board to manage daily operations and ensure compliance with regulations.(global-regulation.com)
Article 101-02 – Appraiser Apprentice, Licensure, or Certification
Apprentice Appraiser: Requires completion of 79 hours of pre-licensing education, including 75 hours of AQB Basic Qualifying Education and a 4-hour Supervisor/Trainee course.
Licensed Appraiser: Allows appraisal of noncomplex, one-to-four family residential properties up to $1 million and complex properties up to $250,000.
Certified Residential Appraiser: Permits appraisal of one-to-four family residential properties without regard to value or complexity, and noncomplex nonresidential properties up to $250,000.
Certified General Appraiser: Authorizes appraisal of all types of real property without regard to value or complexity. (mckissock.com, regulations.justia.com, casetext.com)
Article 101-03 – Standards of Appraisal Practice
Aligns with the Uniform Standards of Professional Appraisal Practice (USPAP), ensuring appraisers adhere to nationally recognized ethical and performance standards.
Article 101-03.1 – Disciplinary Matters
Outlines procedures for investigating complaints, conducting hearings, and imposing disciplinary actions against appraisers who violate regulations.
Article 101-04 – Continuing Education
Mandates ongoing education to maintain licensure and certification, ensuring appraisers stay current with industry standards and regulations.(mckissock.com)
Article 101-05 – Appraisal Management Companies
Regulates the registration and operation of appraisal management companies (AMCs), including application requirements, surety bonds, and responsibilities. (casetext.com)
📌 Key Takeaways
Licensing Levels: North Dakota recognizes four appraiser classifications: Apprentice, Licensed, Certified Residential, and Certified General, each with specific education, experience, and examination requirements.
Ethical Standards: Adherence to USPAP is mandatory, ensuring appraisers uphold integrity and professionalism.
Ongoing Education: Continuous learning is required to maintain licensure and stay informed about regulatory changes.
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