37-54-202. Qualifications for licensure. To qualify for a real estate appraiser license, an applicant:
     (1) shall successfully complete at least 75 classroom hours of a course of study described in 37-54-203 and approved by the board.
     (a) The course of study must be conducted by:
     (i) an accredited university, college, or junior college;
     (ii) an approved real estate appraisal or real estate-related organization; or
     (iii) another school approved by the board.
     (b) The classroom hours must include:
     (i) at least 60 hours relating to the basic principles of land economics and real estate appraisal; and
     (ii) at least 15 hours relating to the standards of professional appraisal practice set out in 37-54-403 and the ethical rules, as established by board rule, to be observed by a real estate appraiser.
     (2) shall pass an examination administered by the board that is based on the study required by 37-54-203 and subsection (1) of this section and is designed to test the applicant's knowledge of the basic principles of land economics and real estate appraisal, standards of professional appraisal practice, and ethical rules to be observed by a real estate appraiser;
     (3) must be of good moral character;
     (4) must have experience in real estate appraisal as prescribed by the board. The board shall adopt rules pertaining to real estate appraisal experience that substantially comply with and are not more stringent than those required for compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
     (5) shall comply with any other requirements related to the practice of real estate appraisal as prescribed by the board by rule.

     History: En. Sec. 6, Ch. 409, L. 1991.