§ 5-20.7-8. Classes of certification and licensing — Residential and general.
(a) There are two (2) classes for state-certified real estate appraisers and two (2) classes of licensed real estate appraisers.
(1) A state-certified residential real estate appraiser is a person who fulfills the requirements for certification for the appraisal of residential real property. For the purposes of this section, residential property means property used for noncomplex single or multi-family dwellings of 1 — 4 units having no minimum transaction value, or property used for complex 1 — 4 residential units having a transaction value of less than two hundred fifty thousand dollars ($250,000).
(2)(a) A state-certified general real estate appraiser is a person who fulfills the requirements for certification for the appraisal of all types of real property.
(b) A state-licensed appraiser is a person who fulfills the requirements for licensing for the appraisal of residential property. For purposes of this section, residential property applies to the appraisal of noncomplex 1 — 4 residential units having a transaction value of less than one million dollars ($1,000,000) and complex 1 — 4 residential units having a transaction value of less than two hundred fifty thousand dollars ($250,000).
(c) A licensed appraiser trainee is an individual who has successfully completed all requisite core courses as required by the appraisal qualifications board of the Appraisal Foundation.
(d) [Deleted by P.L. 2013, ch. 54, § 1 and P.L. 2013, ch. 58, § 1].
History of Section.P.L. 1990, ch. 424, § 1; P.L. 1992, ch. 275, § 1; P.L. 1997, ch. 341, § 1; P.L. 1997, ch. 366, § 1; P.L. 2006, ch. 217, § 2; P.L. 2006, ch. 357, § 2; P.L. 2013, ch. 54, § 1; P.L. 2013, ch. 58, § 1.
Structure Rhode Island General Laws
Title 5 - Businesses and Professions
Chapter 5-20.7 - Real Estate Appraiser Certification Act
Section 5-20.7-1. - Short title.
Section 5-20.7-2. - Definitions.
Section 5-20.7-3. - Certification required.
Section 5-20.7-5. - Powers of the board.
Section 5-20.7-6. - Powers of the department.
Section 5-20.7-7. - Examination requirements.
Section 5-20.7-8. - Classes of certification and licensing — Residential and general.
Section 5-20.7-9. - Requirements prior to certification or licensing examination.
Section 5-20.7-10. - Experience requirement.
Section 5-20.7-11. - Term of certification or license — Renewal.
Section 5-20.7-12. - Issuance of certificate or license — Certificate or license number.
Section 5-20.7-13. - Exclusive use of term.
Section 5-20.7-14. - Principal place of business.
Section 5-20.7-17. - Continuing education prerequisite to renewal.
Section 5-20.7-18. - Retention of records.
Section 5-20.7-19. - Standards of practice.
Section 5-20.7-20. - Revocation or suspension of certification or license.
Section 5-20.7-21. - Violations — Penalties.
Section 5-20.7-22. - Hearing before revocation or suspension; refusal of certification or licensing.
Section 5-20.7-23. - Severability.
Section 5-20.7-24. - Mortgage loan appraisers — Relationship with lending institution.
Section 5-20.7-25. - Effect of federal law.
Section 5-20.7-26. - Order to cease unsafe practices — Appeal.