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Louisiana Revised Statutes Tit. 37, § 3397. License and registration classifications; criteria

Current as of January 01, 2023 | Updated by Findlaw Staff

A. (1) There are three classes of licenses for real estate appraisers:

(a) Licensed residential appraiser.

(b) Certified residential appraiser.

(c) Certified general appraiser.

(2) The license classes enumerated in Paragraph (1) of this Subsection shall conform in all respects with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, P.L. 101-73, and any subsequent amendments and regulations issued pursuant thereto.

B. There are two classes of registrations for real estate appraisers:

(1) Trainee appraiser.

(2) Supervisory appraiser.

C. (1) A supervisory appraiser and a trainee appraiser shall each maintain an appraisal experience log and shall be independently obligated to ensure the appraisal experience log is accurate, current, and complies with the provisions of this Chapter. At a minimum, the appraisal log shall include the following:

(a) Type of property.

(b) Date of report.

(c) Address of appraised property.

(d) Description of work performed by the trainee appraiser and scope of the review and supervision of the supervisory appraiser.

(e) Number of actual work hours by the trainee appraiser on the assignment.

(f) The signature and state certification number of the supervisory appraiser. Separate appraisal logs shall be maintained for each supervisory appraiser if applicable.

(2) Prior to applying for registration with the board, a trainee appraiser or supervisory appraiser shall meet the minimum qualifications required under this Chapter and the Real Property Appraiser Qualification Criteria including but not limited to satisfactory completion or submission of the following:

(a) A course that complies, at a minimum, with the specifications of course content established by the AQB, including submission of an official course completion certificate to the board. The course shall be oriented toward the requirements and responsibilities of supervisory and trainee appraisers.

(b) The registration form that is prescribed by the board.

(3) The trainee appraiser shall be entitled to obtain copies of appraisal reports that he prepared in full or in part. The supervisory appraiser shall keep copies of the trainee appraisal reports prepared by the trainee appraiser for a period of at least five years.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 37, § 3397. License and registration classifications; criteria - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-37-sect-3397/

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