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Regulations of Connecticut State Agencies (Last Updated: June 14,2023) |
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Title20 Professional and Occupational Licensing, Certification |
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SubTitle20-504-1_20-504-12. Real Estate Appraisers |
| Sec. 20-504-1. Definitions |
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For the purposes of sections 20-504-1 to 20-504-12, inclusive, of the Regulations of Connecticut State Agencies, the definitions in section 20-500 of the Connecticut General Statutes apply, and the following terms have the meanings indicated: (1) “Appraisal experience” means appraisal related experience obtained by performing fee and staff appraisals, ad valorem tax appraisals, condemnation appraisals, appraisal reviews, appraisal analyses, real estate consulting, highest and best use analyses, and feasibility analyses or studies; (2) “Appraisal practice” means the work or services performed by appraisers, defined as appraisal or appraisal review; (3) “Appraisal review” means the act or process of developing and communicating an opinion about the quality of another appraiser's work; (4) “Appraisal Standards Board” means the Appraisal Standards Board of the Appraisal Foundation, located in Washington, D.C.; (5) “Appraiser Qualifications Board” or “AQB” means the Appraiser Qualifications Board of the Appraisal Foundation, located in Washington, D.C.; (6) “Classroom hour” means fifty (50) minutes out of each sixty minute segment; (7) “Course” means a course, seminar or other educational program of study; (8) “Complex residential property” means residential property where the property itself, the form of ownership, or the market conditions are atypical; (9) “Federal financial institutions regulatory agency” means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, or the National Credit Union Administration, any successor agency, or any combination of such agencies; (10) “Federally related transaction” means any real estate related financial transaction which (A) a federal financial institutions regulatory agency engages in, contracts for, or regulates; and (B) requires the services of an appraiser pursuant to FIRREA; (11) “FIRREA” means the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989; (12) “Real estate related financial transaction” means a transaction involving (A) the sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof; (B) the refinancing of real property or interests in real property; and (C) the use of real property or interests in real property as security for a loan or investment, including mortgage-backed securities; (13) “Residential real estate” or “one to four unit residential property” means property improved with one to four unit residential structures, and vacant or unimproved land where the highest and best use is for one to four unit residential purposes. This does not include land where a development analysis or appraisal, or both, such as a subdivision development analysis or condominium development analysis, is necessary or utilized; and (14) “Transaction value” with regard to federally related transactions means (A) for loans or other extensions of credit, the amount of the loan or extension of credit; (B) for sales, leases, purchases, and investments in or exchanges of real property, the market value of the real property interest involved; and (C) for the pooling of loans or interests in real property for resale or purchase, the amount of the loan or the market value of the real property calculated with respect to each such loan or interest in real property. |
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(Effective May 18, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended May 31, 2007; Amended August 3, 2020; Amended September 30, 2021) |
| Sec. 20-504-2. Standards for the performance of appraisals, content of appraisals and conduct of appraisers |
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Every appraiser shall, in performing the acts and services of a real estate appraiser, real estate review appraiser or real estate consultant, conform to the following minimum standards: (1) The USPAP in effect at the time the services are performed. A copy of the USPAP book is available for inspection at the main office of the Department of Consumer Protection during regular business hours. Alternatively, copies may be obtained from the Appraisal Foundation located in Washington, D.C. or from the Appraisal Foundation's website at http://www.appraisalfoundation.org. (2) An appraiser who wishes to enter in or upon any premises or real estate not the subject of appraisal for the purpose of estimating comparable real estate shall obtain permission to enter from the owner or occupier of the premises or real estate, and shall identify himself as an appraiser; (3) Each appraisal or appraisal review shall include for each appraiser signing such report: the appraiser's name either printed or typed, the category of licensure held, and license number, the state of issuance and the expiration date of the license; and, (4) Pursuant to the rules under Title XI of FIRREA, when an Evaluation of Real Property Collateral is required in lieu of an appraisal, a Connecticut certified appraiser may perform such Evaluation outside the scope of the USPAP by following Section XII (Evaluation Development) and Section XIII (Evaluation Content) of the Interagency Appraisal and Evaluation Guidelines as published in the Federal Register (Vol. 75, No. 237) on December 10, 2010. |
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(Effective May 18, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended August 3, 2020; Amended September 30, 2021) |
| Sec. 20-504-3. Licensure or certification categories and scope of practice |
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(a) The following categories of appraiser licensure or certification are established: (1) State certified general appraiser; (2) State certified residential appraiser; and (3) State provisional appraiser. (b) No person shall act as a state certified general appraiser, state certified residential appraiser, or as a state provisional appraiser unless the person meets the requirements for that category of licensure or certification as established in chapter 400g of the Connecticut General Statutes and sections 20-504-1 to 20-504-12, inclusive, of the Regulations of Connecticut State Agencies. (c) No certified or provisional appraiser shall perform appraisal work that is beyond the scope of practice for such appraiser's category of licensure or certification except as provided under subsection (d) of this section. The scope of practice for each category is as follows: (1) The state certified general appraiser scope of appraisal practice includes the appraisal of all types of real estate, without regard to transaction value, for all types of transactions including federally related transactions. (2) The state certified residential appraiser scope of appraisal practice includes the appraisal of all residential real estate, without regard to transaction value, for all types of transactions including federally related transactions. (3) The state provisional appraiser scope of appraisal practice includes the appraisal of real estate while under the direct supervision of a certified appraiser for the types of property and in the types of transactions the supervisory appraiser is permitted to appraise. The purpose for this category is to provide an entry level that will allow appraisers to develop the appraisal experience needed to qualify for a category of certified appraiser. (d) When two or more appraisers work together, each taking responsibility for the appraisal services provided, including the signing of any resulting appraisal, appraisal review or appraisal consulting reports, the scope of appraisal practice includes all types of real estate and transactions available under the collective categories of licensure or certification held. (e) Any person licensed under Chapter 392 of the Connecticut General Statutes as a real estate broker or a real estate salesman may estimate the value of real estate as part of a market analysis performed for the purpose of a prospective listing or sale of such real estate or any other purpose permitted under section 20-526 of the Connecticut General Statutes, without being a certified or provisional licensed appraiser, provided the estimate shall not be referred to or construed as an appraisal. Any real estate broker or salesman charging a fee or other valuable consideration, separate from any fees or sales commissions or potential sales commissions to be earned in connection with the listing or sale of real estate, for providing an estimate of value of such real estate, except as permitted under section 20-526 of the Connecticut General Statutes, shall be construed as engaging in the real estate appraisal business. |
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(Effective December 23, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended January 5, 2011; Amended December 9, 2015) |
| Sec. 20-504-4. Provisional appraisers and supervisory appraisers |
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(a) No person shall be a state provisional appraiser for less than one (1) year or more than a total of six (6) years except that under circumstances of bona fide personal or physical hardship or other good cause, the commission or commissioner may allow additional time on a case by case basis. Such six (6) year total shall not include any period for which the proposed appraiser has given the commission earliest reasonable written notice of complete suspension of appraisal activity in Connecticut. (b) While performing appraisal work, each provisional appraiser shall be subject to direct supervision by one or more supervisory appraisers, each of whom: (1) Shall have held a certified residential or certified general appraiser license for at least three (3) years prior to becoming a supervisor; (2) Shall not have been subject to any disciplinary action within the immediately preceding three (3) years that affects their legal eligibility to engage in appraisal practice; and (3) Shall currently hold their license in good standing. (c) Both provisional appraisers and supervisory appraisers shall complete a course that, at a minimum, complies with the specifications for course content established by the Appraisal Qualifications Board. The course curriculum shall contain a review of the requirements and responsibilities of supervisory appraisers and the expectations of provisional (also known as “trainee”) appraisers. The course shall be completed by the provisional appraiser prior to obtaining a provisional appraiser credential and completed by the supervisory appraiser prior to supervising a provisional appraiser. (d) The supervisory appraiser shall be responsible for the direct supervision of the provisional appraiser by: (1) Accepting responsibility for the appraisal work performed. The supervisory appraiser shall indicate the acceptance of responsibility in any resulting written appraisal reports, appraisal review reports or appraisal consulting reports by signing and certifying the report is in compliance with the current USPAP; (2) Reviewing the provisional appraiser's appraisal reports, appraisal review reports, appraisal consulting reports or work product; and (3) Personally inspecting each appraised property with the provisional appraiser until a reasonable appraiser would judge the provisional appraiser to be competent in accordance with the Competency Rule of the USPAP for the property type. (e) Each provisional appraiser and supervisory appraiser shall file with the commission a notification prior to beginning and at the termination of their employment by each supervisory appraiser. (f) For verification of experience credit, an appraisal log shall be maintained by the provisional appraiser and supervisory appraiser and shall, at a minimum, include the following for each appraisal: (1) Type of property; (2) Date of report; (3) Type of report; (4) Address of appraised property; (5) Description of work performed by the provisional appraiser and scope of the review and supervision of the supervisory appraiser; (6) Number of actual work hours performed by the provisional appraiser on the assignment; and (7) The signature and state certification number of the supervisory appraiser. (g) The supervisory appraiser and the provisional appraiser shall review and each sign the appraisal log on a quarterly basis, in accordance with a log format provided by the commission. (h) Separate appraisal logs shall be maintained for each supervisory appraiser. (i) The provisional appraiser shall be entitled to obtain copies of appraisals such provisional appraiser prepared or to which such provisional appraiser made a significant professional contribution, from supervisory appraisers when such copies are necessary to document appraisal experience for licensure, certification or regulatory compliance purposes. The supervisory appraiser shall not, however, be required to maintain copies beyond the record keeping requirements of the current USPAP. (j) The supervisory appraiser, by signing the notification to the commission of the sponsorship of the provisional appraiser, agrees to assume the responsibilities and duties of a supervisory appraiser as provided in this section, in chapter 400g of the Connecticut General Statutes and in the USPAP, and shall cooperate with the commission regarding matters related to the provisional appraiser. (k) A supervisory appraiser shall not supervise more than three (3) provisional appraisers at one time. |
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(Effective May 18, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended May 31, 2007; Amended January 5, 2011; Amended December 9, 2015; Amended August 3, 2020; Amended September 30, 2021) |
| Sec. 20-504-5. Application for licensure or certification | ||||||||||||||||||||||||||||||
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(a) State certified general appraiser. Each applicant for a general certification shall prove to the satisfaction of the commission or commissioner that the applicant has met the following examination, education, and experience requirements: (1) Successful completion of the AQB-approved Certified General Real Property Appraiser examination; (2) As a prerequisite to sit for the examination, successful completion of courses approved by the commission totaling at least three hundred (300) classroom hours of study in accordance with the Required Core Curriculum. The Required Core Curriculum topic areas and required number of hours are: (A) Basic Appraisal Principles (30 hours); (B) Basic Appraisal Procedures (30 hours); (C) The 15 hour National USPAP Course or its equivalent (15 hours); (D) General Appraisal Market Analysis and Highest and Best Use (30 hours); (E) Statistics, Modeling and Finance (15 hours); (F) General Appraiser Sales Comparison Approach (30 hours); (G) General Appraiser Site Valuation and Cost Approach (30 hours); (H) General Appraiser Income Approach (60 hours); (I) General Appraiser Report Writing and Case Studies (30 hours); and (J) Appraisal Subject Matter Electives (30 hours). (3) Applicants completing the required three hundred (300) classroom hours of study shall be able to demonstrate that their education involved coverage of all topics listed below, with particular emphasis on the appraisal of non-residential properties: (A) Influences on real estate value; (B) Legal consideration in appraisal; (C) Types of value; (D) Economic principles; (E) Real estate markets and analysis; (F) Valuation process; (G) Property description; (H) Highest and best use analysis; (I) Appraisal math and statistics; (J) Sales comparison approach; (K) Site value; (L) Cost approach; (M) Income approach: (i) estimation of income and expenses; (ii) operating statement ratios; (iii) direct capitalization; (iv) cash flow estimates; (v) measures of cash flow; and (vi) discounted cash flow analysis; (N) Valuation of partial interests; (O) Narrative report writing; and (P) Successful completion of the 15-hour USPAP course within the six (6) year period preceding the date of the application. Said course shall consist of at least fifteen (15) classroom hours, including a cumulative examination, and shall be taught by an AQB certified USPAP instructor who is a state certified residential or state certified general appraiser. The hours of instruction completed as part of the USPAP course shall be applied as a credit toward the total number of hours listed as a prerequisite to sit for the examination in subdivision (2) of this subsection. (4) As a prerequisite to sit for the examination, completion of either three thousand (3,000) hours of appraisal experience, as defined in subparagraphs (A) and (B) of this subdivision, or equivalent experience as determined by the commission. (A) Three thousand (3,000) hours of appraisal experience obtained during no fewer than eighteen (18) months is required. Experience documentation in the form of an appraisal log shall be submitted to support the experience claimed. If requested, reports or file memoranda shall be made available to support the experience claimed. Hours may be treated as cumulative in order to achieve the necessary 3,000 hours of appraisal experience. (B) For credit, the applicant shall have accumulated a total of three thousand (3,000) hours of appraisal experience of which at least one thousand five hundred (1,500) hours shall be in non-residential appraisal work. (5) As a prerequisite to obtain certification, the applicant shall have obtained the minimum educational requirement of a bachelor's degree from an accredited college, university, or institute of higher education. (b) State certified residential appraiser. Each applicant for a residential certification shall prove to the satisfaction of the commission that the applicant has met the following examination, education, and experience requirements: (1) Successful completion of the AQB-approved Certified Residential Real Property Appraiser examination; (2) As a prerequisite to sit for the examination, successful completion of courses approved by the commission totaling at least two hundred (200) classroom hours of study in accordance with the Required Core Curriculum. The Required Core Curriculum topic areas and required number of hours are: (A) Basic Appraisal Principles (30 hours) (B) Basic Appraisal Procedures (30 hours) (C) The 15 hour USPAP Course or its equivalent (15 hours); (D) Residential Market Analysis and Highest and Best Use (15 hours) (E) Residential Appraiser Site Valuation and Cost Approach (15 hours) (F) Residential Sales Comparison and Income Approaches (30 hours) (G) Residential Report Writing and Case Studies (15 hours) (H) Statistics, Modeling and Finance (15 hours) (I) Advanced Residential Applications and Case Studies (15 hours) (J) Appraisal Subject Matter Electives (20 hours). (3) Applicants completing the required two hundred (200) classroom hours of study shall be able to demonstrate that their education involved coverage of all topics listed below, with particular emphasis on the appraisal of residential properties: (A) Influences on real estate value; (B) Legal consideration in appraisal; (C) Types of value; (D) Economic principles; (E) Real estate markets and analysis; (F) Valuation process; (G) Property description; (H) Highest and best use analysis; (I) Appraisal math and statistics; (J) Sales comparison approach; (K) Site value; (L) Cost approach; (M) Income approach: (i) gross rent multiplier analysis; (ii) estimation of income and expenses; (iii) operating expense ratios; and (iv) direct capitalization; (N) Valuation of partial interests; (O) Narrative report writing; and (P) Successful completion of the 15-hour USPAP course within the six (6) year period preceding the date of the application. Said course shall consist of at least fifteen (15) classroom hours, including a cumulative examination, and shall be taught by at least one AQB certified USPAP instructor who is a state certified residential or state certified general appraiser. The hours of instruction completed as part of the USPAP course shall be applied as a credit toward the total number of hours listed as a prerequisite to sit for the examination in subdivision (2) of this subsection; and (4) As a prerequisite to sit for the examination, completion of one thousand five hundred (1,500) hours of appraisal experience, obtained during no fewer than twelve (12) months. Experience documentation in the form of an appraisal log shall be submitted to support the experience claimed. If requested, reports or file memoranda shall be available to support the experience claimed. Hours may be treated as cumulative in order to achieve the necessary one thousand five hundred (1,500) hours of appraisal experience. (5) As a prerequisite to obtain certification, the applicant shall have obtained the minimum educational requirement of a bachelor’s degree from an accredited college, university, or institute of higher education. In lieu of a bachelor's degree, the higher education requirement may be fulfilled by completing one of the following options: (A) Earning an Associates Degree in a field of study related to: Business Administration; Accounting; Finance; Economics; or Real Estate. (B) Successful completion of thirty (30) semester hours of college-level courses that cover each of the following specific topic areas and hours: English Composition (3 hours); Microeconomics (3 hours); Macroeconomics (3 hours); Finance (3 hours); Algebra, Geometry, or higher mathematics (3 hours); Statistics (3 hours); Computer Science (3 hours); Business Law or Real Estate (3 hours); and Two elective courses in any of the above topics or in Accounting, Geography, Agricultural Economics, Business Management, or Real Estate (3 hours each elective). (C) Successful completion of at least thirty (30) semester hours of College Level Examination Program (CLEP) examinations, as set forth in the following Equivalency Table:
(D) Any combination of the requirements of subparagraphs (B) and (C) of this subdivision that includes all of the topics identified within subparagraph (B) of this subdivision. (c) State provisional appraiser. Each applicant for a provisional license shall, before being granted such provisional license, prove to the satisfaction of the commission that the applicant has met the following education requirements: (1) Successful completion of pre-licensing courses approved by the commission, including examinations, totaling at least seventy-five (75) classroom hours of study, including: (A) Completion of a minimum of thirty (30) classroom hours in real estate appraisal principles, within the five (5) year period preceding the date of the provisional license application; (B) Completion of a minimum of thirty (30) classroom hours in real estate appraisal procedures, within the five (5) year period preceding the date of the provisional license application; and (C) Successful completion of the 15-hour USPAP course within the five (5) year period preceding the date of the application. Said course shall consist of at least fifteen (15) classroom hours, including a cumulative examination, and shall be taught by an AQB certified USPAP instructor who is a state certified residential or state certified general appraiser. (2) Successful completion of an AQB approved course detailing the supervisory and provisional appraiser (also known as “trainee”) roles. (d) Documentation of experience and education. Applicants for licensure or certification shall comply with the following when documenting experience and training: (1) Allowable appraisal experience shall be the applicant's own work, which may include experience obtained while completing entire appraisals, technical review appraisals or consulting assignments. Appraisal experience may also be allowed for experience the applicant obtained while providing significant professional assistance, as determined by the commission, to a certified appraiser in the preparation of real estate appraisals, technical review appraisals or consulting assignments, where the applicant is not the primary appraiser. Allowable appraisal experience shall not include appraisals performed as a classroom exercise; (2) Experience documentation for applicants in the form of logs, reports, and file memoranda shall be available to support the experience claimed. If requested by the commission, applicants will provide the commission with such additional documentation as is needed to prove to the satisfaction of the commission that the experience requirement has been met; and (3) Education documentation shall be provided with the application in the form of original affidavits or original certificates provided for commission approved courses or other documentation acceptable to the commission. Documentation shall also be provided for other courses. If requested by the commission, applicants shall provide the commission with such additional documentation as is needed to prove to the satisfaction of the commission that the education requirement has been met. |
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(Effective December 23, 1994; Amended October 15, 1999; Amended December 7, 2004; Amended May 31, 2007; Amended January 5, 2011; Amended December 9, 2015; Amended August 3, 2020; Amended September 30, 2021) |
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| Sec. 20-504-6. Examination |
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(a) In order to determine the competency of any applicant for certification, each applicant is required to successfully complete a written examination as to the applicant's competency to act as an appraiser in the category for which the applicant is applying. (b) Such examination shall be: (1) The AQB approved National Uniform Licensing and Certification Examination; and (2) Administered to applicants by the Department of Consumer Protection or by such testing service at such times and places as said commissioner may deem necessary. (c) A passing score of at least seventy-five (75) per cent of the maximum possible score on the examination shall be attained by an applicant in order to pass the personal written examination for the appraiser's certification given by the Department of Consumer Protection or national testing service. Successful completion of said examination is valid for a period not to exceed twenty four (24) months from the date of said examination. |
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(Effective May 18, 1994; Amended December 7, 2004; Amended May 31, 2007; Amended January 5, 2011; Amended December 9, 2015) |
| Sec. 20-504-7. Licensure or certification renewal |
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(a) Persons certified or provisionally licensed in accordance with chapter 400g of the Connecticut General Statutes shall fulfill a continuing education requirement and such other requirements that may be specified in this section. Applicants seeking annual renewal of a license or certification shall, in addition to the other requirements imposed by section 20-517 of the Connecticut General Statutes, submit proof of compliance with the requirements of this section to the commission. (b) The continuing education requirement shall be satisfied by: (1) Successful completion by certified or provisional appraisers of twenty-eight (28) classroom hours in courses approved by the commission. The continuing education renewal cycle shall run from May 1st through April 30th inclusive of each even-numbered calendar year. The classroom education shall include, one (1) course consisting of at least three (3) classroom hours in current real estate appraisal legislation, laws and regulations, professional standards, and real estate equal opportunity laws and regulations; and (2) Successful completion of the seven (7) hour USPAP update course taught by at least one AQB certified USPAP instructor who is also a state certified appraiser. (c) Equivalent continuing education may be granted for: (1) Any course approved by the commission as a prerequisite course. This includes prerequisite education previously used to qualify as a certified appraiser, or provisional appraiser, if successfully completed within the two (2) year period prior to renewal. Any approved prerequisite course used for continuing education credit by a certified or provisional appraiser will also continue to be eligible for consideration toward prerequisite education requirements such appraiser may need in the future to qualify for a different category of certified appraiser; (2) Any other real estate appraisal related educational courses taken by an appraiser and judged acceptable by the commission. Such courses shall be considered by the commission on an individual basis. Evidence of such courses shall be submitted at least ninety (90) days prior to the end of each two (2) year continuing education period. Submissions made after the ninety (90) day period will not be considered, except at the discretion of the commission; or (3) Participation, other than as a student, in appraisal education processes and programs. Examples of activities for which credit may be granted are teaching, program development, authorship of textbooks, or similar activities which are determined by the commission to be equivalent to obtaining continuing education. Evidence of such activities shall be submitted no later than ninety (90) days prior to the end of each two (2) year continuing education period. Submissions made after the ninety (90) day period will not be considered, except at the discretion of the commission. No more than fifty percent (50%) or fourteen hours (14) of continuing education may be obtained pursuant to this subdivision. (d) Courses or activities considered for continuing education, or equivalent continuing education credit, shall not be accepted by the commission if the course or activity is for less than two (2) hours. (e) Continuing education hours, or equivalent continuing education hours, shall not be approved more than once within each two (2) year continuing education period for completing or instructing the same course, or participating in the same activity. For purposes of this section, each annual edition of the seven (7) hour USPAP update course shall be considered a separate course. |
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(Effective May 18, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended May 31, 2007; Amended January 5, 2011; Amended December 9, 2015) |
| Sec. 20-504-8. [Repealed] |
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Repealed February 2, 2001. |
| Sec. 20-504-9. Temporary practice; licensure or certification in another state |
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(a) Temporary practice (1) An appraiser who is certified, state licensed, or provisionally licensed by the appraiser licensing agency or certifying agency in another state may register to receive temporary certification or temporary provisional licensure in this state by paying the appropriate fee and filing with the board a registration form approved by and obtained from the commission. The commission shall provide written notification of acceptance of the registration to the appraiser via mail, facsimile, electronic mail or other appropriate means not later than five days after receipt of the fee and a properly completed registration form. (2) The temporary certification or temporary provisional license, as the case may be, shall be effective for six months from issuance and will apply to one appraisal assignment which will be specified in the application. The commission may grant one extension upon request of the appraiser if the appraiser is unable to complete the appraisal assignment within six months. One appraisal assignment means one or more real estate appraisals which have been contracted for in a single contract. Temporary certification and temporary provisional licensure are available to appraisers from all states unless a state's appraiser certifications or licenses are not recognized under FIRREA. (b) Licensure or certification from other states (1) Provisional Appraisers: (A) Provisional applicants from other states may apply for a provisional license with the appropriate fee to the commission. Applicants shall submit proof of satisfactory completion of the required course work based upon Appraisal Qualifications Board (AQB) criteria. (B) Provisional applicants shall have the sponsorship of an active Connecticut certified appraiser. (2) Certified Appraisers: (A) Certified applicants from other states may apply for an equivalent certification with the appropriate fee to the commission. Applicants shall have passed an AQB approved exam; (B) Shall be AQB compliant; and (C) Shall be in good standing on the National Registry of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. (c) Credit for continuing education approved by another state Currently practicing, competent real estate appraisers in another state applying for renewal or provisional licensing in the state of Connecticut shall satisfy the provisions of chapter 400g of the Connecticut General Statutes and sections 20-504-1 to 20-504-12, inclusive, of the Regulations of Connecticut State Agencies, except that such appraisers may submit continuing education courses or seminars that have been approved by the issuing authority for consideration by the commission as equivalent continuing education, provided that the total number of classroom hours submitted shall be consistent with the continuing education requirements. All appraisers shall comply with Connecticut’s continuing education requirements, including the completion of the three (3) hour mandatory appraisal law course and the seven (7) hour USPAP update course as part of the required twenty eight (28) total hours of courses during each two (2) year continuing education cycle. (d) Real estate appraisal reviewers certified in another state (1) Real estate appraisal reviewers certified in another state and operating outside the state of Connecticut who are performing appraisal reviews regarding real estate located in Connecticut are not required to hold a Connecticut certification or temporary certification if such appraisal review does not entail an opinion or determination of value or involve field work within the state of Connecticut. (2) Real estate appraisers licensed or certified in another state and performing appraisal reviews that do entail an opinion or determination of value or involve field work within the state of Connecticut are required to hold a valid Connecticut certification or provisional license that is appropriate for the work performed, which may include a temporary license. |
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(Effective December 23, 1994; Amended October 15, 1999; Amended February 2, 2001; Amended December 7, 2004; Amended January 5, 2011; Amended December 9, 2015) |
| Sec. 20-504-10. National registry |
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The commission shall require an annual registry fee for all certified appraisers in an amount established by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council pursuant to Title XI of FIRREA. The Commissioner of Consumer Protection shall compile and transmit a roster of such appraisers, along with the registry fees paid, to the appropriate federal regulatory entity. |
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(Effective May 18, 1994; Amended December 7, 2004; Amended May 31, 2007; Amended January 5, 2011) |
| Sec. 20-504-11. Duty to cooperate |
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A certified or provisional appraiser or applicant shall cooperate with department staff if such appraiser or applicant is contacted in connection with an inquiry or investigation performed by the Department of Consumer Protection concerning possible violations of real estate appraiser statutes or regulations. A certified or provisional appraiser or applicant shall not make any untruthful or misleading statements in connection with any Department of Consumer Protection or commission inquiry, investigation or hearing. |
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(Effective May 18, 1994; Amended February 2, 2001; Amended December 7, 2004; Amended January 5, 2011) |
| Sec. 20-504-12. Discipline |
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(a) The Department of Consumer Protection may, upon the request of the commission or upon the verified complaint in writing of any person, as provided in chapter 400g of the Connecticut General Statutes, investigate the actions of any appraiser or any person who assumes to act in the capacity of an appraiser within this state. (b) The commission shall give notice and afford opportunity for hearing, in accordance with the provisions of chapter 54 of the Connecticut General Statutes and Regulations of Connecticut State Agencies established by the Commissioner of Consumer Protection, before imposing any penalties for violations of any provision of chapter 400g of the Connecticut General Statutes or any applicable regulations. (c) The commission may suspend or revoke any category of certification or licensure issued under the provisions of chapter 400g of the Connecticut General Statutes, and, in addition to or in lieu of such action, may impose a fine of not more than one thousand dollars as provided in chapter 400g of the Connecticut General Statutes. (d) Any person aggrieved by any decision or order of the commission may appeal in accordance with the provisions of section 4-183 of the Connecticut General Statutes. |
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(Effective May 18, 1994; Amended October 15, 1999; Amended December 7, 2004) |