Colorado Revised Statutes Title 12. Professions and Occupations § 12-10-603. Board of real estate appraisers--creation--compensation--immunity--legislative declaration--subject to review--repeal of part

(1)(a) There is hereby created in the division of real estate a board of real estate appraisers consisting of seven members appointed by the governor with the consent of the senate. Of the members, three shall be licensed or certified appraisers, one of whom shall have expertise in eminent domain matters; one shall be a county assessor in office; one shall be an officer or employee of a commercial bank experienced in real estate lending; one shall be an officer or employee of an appraisal management company; and one shall be a member of the public at large not engaged in any of the businesses represented by the other members of the board.

(b) Members of the board shall hold office for terms of three years. In the event of a vacancy by death, resignation, removal, or otherwise, the governor shall appoint a member to fill the unexpired term. The governor has the authority to remove any member for misconduct, neglect of duty, or incompetence.

(2)(a) The board is a type 1 entity, as defined in section 24-1-105, and exercises its powers and performs its duties and functions under the division of real estate.

(b) The general assembly finds, determines, and declares that the organization of the board under the division as a type 1 entity will provide the autonomy necessary to avoid potential conflicts of interest between the responsibility of the board in the regulation of real estate appraisers and the responsibility of the division in the regulation of real estate brokers and salespersons. The general assembly further finds, determines, and declares that the placement of the board as a type 1 entity under the division is consistent with the organizational structure of state government.