It is unlawful for an individual to assume or use a title, designation, or abbreviation likely to create the impression that the person is a real estate appraiser or to engage in real estate appraisal activity or advertise as an appraiser without a valid license issued by the department. However, nothing in this chapter may be construed to apply to:
(1) A real estate licensee licensed in accordance with Chapter 57, Title 40 who performs a market analysis or gives an opinion as to the price of real estate on the condition that the market analysis or opinion is not referred to as an appraisal. Before performing a market analysis, the real estate licensee must disclose to the requesting party: "This market analysis may not be used for the purposes of obtaining financing in a federally related transaction".
(2) A forester registered pursuant to Chapter 27, Title 48 who appraises or values standing or growing timber or timberland located in this State and issues an appraisal or valuation on the timber or timberland, as permitted by Chapter 27, Title 48 and Regulation 53-13. When an appraisal or valuation is to be used in a federally related transaction, the registered forester must be licensed or certified under this chapter if required by federal law or regulation.
(3) An employee of a lender in the performance of appraisals or valuations with respect to which federal law or regulations does not require a licensed or certified appraiser. This exception does not apply to third party contractors.
HISTORY: 2006 Act No. 257, Section 1; 2016 Act No. 243 (H.5023), Section 3, eff June 5, 2016.
Editor's Note
Prior Laws:1991 Act No. 12, Section 1; 1993 Act No. 143, Section 1; 2000 Act No. 335, Section 1.
Effect of Amendment
2016 Act No. 243, Section 3, in the first paragraph, inserted "real estate" before "appraisal activity"; in (1), deleted a hyphen between "federally" and "related"; rewrote (2), substituting "values" and "valuation" for "evaluates" and "evaluation", adding reference to Chapter 27, Title 48 and Regulation 53-13 at the end of the first sentence, and deleting a hyphen between "federally" and "related"; and added (3), relating to an exception.
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.