Senate Bill No. 91-Committee on Commerce and Labor
(On Behalf of the Real Estate Division
of the Department of Business and Industry)
January 30, 1997
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Referred to Committee on Commerce and Labor
SUMMARY--Revises certain education and experience requirements for appraisers of real estate. (BDR 54-579)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to appraisers of real estate; increasing certain requirements of education and experience required for certification or licensure as an appraiser of real estate; revising the number of hours of continuing education required for the renewal or reinstatement of a certificate or license; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
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Section 1 Chapter 645C of NRS is hereby amended by adding thereto a new section to read as follows:
"Complex property" means real property that is atypical for a particular area based on, without limitation, such factors as the dimensions of the property, the architectural style, age and size of improvements to the property, the uses of other property in the area, the potential liability of the owner of the property for environmental hazards relating to the property, and the existence of a leasehold interest in the property.
Sec. 2. NRS 645C.010 is hereby amended to read as follows:
645C.010 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645C.020 to 645C.130, inclusive, and section 1 of this act, have the meanings ascribed to them in those sections.
Sec. 3. NRS 645C.330 is hereby amended to read as follows:
645C.330 1. An applicant for a license as a residential appraiser must furnish proof satisfactory to the commission that he has successfully completed:
(a) Not less than [75] 90 hours of academic instruction in subjects related to appraisals taught in courses approved by the commission; and
(b) At least 2 years of experience working full time as an appraiser or intern.
2. An applicant for a certificate as a residential appraiser must furnish proof satisfactory to the commission that he has successfully completed:
(a) Not less than 120 hours of academic instruction in subjects related to appraisal taught in courses approved by the commission; and
(b) At least 2 years of experience working full time as an appraiser or intern [.] , including not less than 500 hours of experience relating to complex property.
3. An applicant for a certificate as a general appraiser must furnish proof satisfactory to the commission that he has successfully completed:
(a) Not less than [165] 180 hours of academic instruction in subjects related to appraisals taught in courses approved by the commission; and
(b) At least 3 years of experience working full time as an appraiser or intern.
4. As used in this section, an "hour of academic instruction" means at least 50 minutes of actual time spent receiving instruction.
Sec. 4. NRS 645C.430 is hereby amended to read as follows:
645C.430 1. An appraiser must complete the following number of hours of continuing education in courses approved by the commission as a condition to the renewal of an active certificate or license or the reinstatement of an inactive certificate or license:
(a) For the renewal of an active certificate or license, [at least 20] not less than 30 hours of instruction within the 2 years immediately preceding the application for renewal.
(b) For the reinstatement of a certificate or license which has been on inactive status:
(1) For not more than 2 years, or for more than 2 years including the initial period of certification or licensure, [at least 20] not less than 30 hours of instruction.
(2) For more than 2 years , [but not more than 4 years,] no part of which includes the initial period of certification or licensure, [at least 40 hours of instruction.
(3) For more than 4 years, no part of which includes the initial period of certification or licensure, at least 10 hours of instruction] not less than 15 hours of instruction per year for each year that the certificate or license was on inactive status, not to exceed 60 hours of instruction.
2. As used in this section, an "hour of instruction" means at least 50 minutes of actual time spent receiving instruction.
Sec. 5. This act becomes effective upon passage and approval.