(A) There is created the South Carolina Real Estate Appraisers Board under the administration of the Department of Labor, Licensing and Regulation. The purpose of this board is to regulate the real estate appraisal industry so as to protect the public's interest regarding real estate appraisal transactions.
(B) The South Carolina Real Estate Appraisers Board consists of eight members who must be residents of this State and appointed by the Governor with the advice and consent of the Senate and with consideration given to appropriate geographic representation and to areas of appraisal expertise as follows:
(1) One member must be a public member who may not be connected in any way with the practice of real estate appraisal, real estate brokerage, or mortgage lending. The member from the general public may be nominated by an individual, group, or association and must be appointed by the Governor in accordance with Section 40-1-45.
(2) One member must be a licensed real estate broker who is not a real estate appraiser.
(3) One member must be actively engaged in mortgage lending, representing supervised financial institutions, who is not a real estate licensee or a real estate appraiser and who also must not be connected in any way with the brokerage of real estate, the appraisal of real estate, or the review of real estate appraisals.
(4) Four members must be licensed or certified appraisers, actively engaged in real estate appraisal for at least three years, at least two of whom must be certified general appraisers and at least one of whom must be a certified residential appraiser. In appointing real estate appraisers to the board, the Governor, while not automatically excluding other appraisers, shall give preference to real estate appraisers whose primary source of income is derived from appraising real estate and not real estate brokerage.
(5) One member must represent an appraisal management company registered with the board.
(C) Members shall serve terms of three years and until their successors are appointed and qualified.
(D) Members of the board are entitled to per diem, subsistence, and mileage as is provided by law for members of state boards, committees, and commissions.
(E) The board shall meet at least once each calendar quarter, or as often as necessary, and shall remain in session as long as the chairman considers it necessary to give full consideration to the business before the board.
(F) The board annually shall elect from its total membership a chairman, vice-chairman, and other officers the board determines necessary. The board may adopt an official seal and shall adopt rules and procedures reasonably necessary for the performance of its duties and the governance of its operations and proceedings.
(G) A board member is required to attend meetings or to provide proper notice and justification of his or her inability to do so. The Governor may remove a member of the board pursuant to Section 1-3-240.
(H) Vacancies on the board must be filled for the unexpired portion of the term in the manner of the original appointment.
(I) In addition to the powers and duties provided in Section 40-1-70, the board may:
(1) determine the standards and qualifications for issuance of permits, licenses, and certifications;
(2) conduct disciplinary hearings on alleged violations of this chapter and regulations promulgated under this chapter and decide disciplinary actions as provided in this chapter for those found to be in violation;
(3) recommend changes in legislation and promulgate regulations pursuant to this chapter;
(4) approve and regulate educational courses, providers, and instructors;
(5) establish standards for real estate appraisals consistent with the standards recognized by the Appraisal Standards Board.
HISTORY: 2006 Act No. 257, Section 1; 2016 Act No. 243 (H.5023), Section 1, eff June 5, 2016; 2017 Act No. 32 (S.279), Section 2, eff May 10, 2017.
Editor's Note
Prior Laws:1991 Act No. 12, Section 1; 2000 Act No. 335, Section 1; 1976 Code Section 40-60-50.
2017 Act No. 32, Section 5, provides as follows:
"SECTION 5. This act takes effect upon approval by the Governor. In the event that a registration process is unavailable upon the effective date of this act, an appraisal management company already conducting business in this State may continue to conduct business until one hundred twenty days after a registration process becomes available."
Effect of Amendment
2016 Act No. 243, Section 1, in (B)(4), inserted "and at least one of whom must be a certified residential appraiser".
2017 Act No. 32, Section 2, in (B), substituted "eight members" for "seven members", and added (B)(5), relating to the requirement that one board member must represent an appraisal management company registered with the board.
Structure South Carolina Code of Laws
Title 40 - Professions and Occupations
Chapter 60 - South Carolina Real Estate Appraiser License And Certification Act
Section 40-60-5. Citation and application of chapter; conflict with Article 1, Chapter 1, Title 40.
Section 40-60-10. South Carolina Real Estate Appraisers Board.
Section 40-60-20. Definitions.
Section 40-60-30. License requirement; exceptions.
Section 40-60-31. Qualifications.
Section 40-60-32. Application forms.
Section 40-60-33. Educational and applicable experience requirements.
Section 40-60-35. Continuing education requirements; exceptions.
Section 40-60-36. Approval of courses, educational providers and instructors; instructor workshops.
Section 40-60-70. Code of ethics.
Section 40-60-80. Investigation of complaints and violations; stays; appeal.
Section 40-60-90. Power to administer oaths.
Section 40-60-100. Restraining orders and cease and desist orders.
Section 40-60-110. Grounds for denying license or taking disciplinary action.
Section 40-60-115. Board jurisdiction.
Section 40-60-130. Grounds for denial of license or discipline.
Section 40-60-140. License denial based on prior criminal record.
Section 40-60-150. Voluntary surrender of license.
Section 40-60-170. Investigation and prosecution costs.
Section 40-60-180. Collection of costs and fines.
Section 40-60-190. Confidentiality of investigations and proceedings; privileged communications.
Section 40-60-200. Advertising or engaging in business of appraising without license; penalties.
Section 40-60-210. Injunctive relief; fine.
Section 40-60-220. Continuation of existing licenses.
Section 40-60-230. Severability.
Section 40-60-310. Short title.
Section 40-60-320. Definitions.
Section 40-60-330. Registration; requirements.
Section 40-60-340. Exclusions from registration requirements.
Section 40-60-350. Renewal of registrations.
Section 40-60-380. Designation of a controlling person; notification of changes.
Section 40-60-400. Certification or licensure required for employees and independent contractors.
Section 40-60-410. Good standing with board required for certified or licensed appraisers.
Section 40-60-420. Record-keeping requirements for registration renewal.
Section 40-60-430. Criminal background checks for appraisers.
Section 40-60-450. Payment for completions of an appraisal or valuation assignment.
Section 40-60-460. Appraiser's consent required to modify report; use of appraisal reports.
Section 40-60-470. Disciplinary action for violations of this article.
Section 40-60-480. Investigations and disciplinary proceedings; notice requirements.
Section 40-60-490. Board authorized to issue restraining orders.
Section 40-60-500. Jurisdiction.
Section 40-60-510. Grounds for denial of registration.
Section 40-60-520. Denial of registration; prior criminal conviction.
Section 40-60-530. Voluntary surrender of registration; public disclosure.
Section 40-60-540. Review of board decision by the Administrative Law Court.
Section 40-60-550. Confidentiality of investigations and proceedings; communications privileged.