The Board proposes the rule amendment to update signature requirements on an appraisal report and certification.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO.: RULE TITLE:
61J1-7.0065: Signatures on Appraisal Report and Certification

PURPOSE AND EFFECT: The Board proposes the rule amendment to update signature requirements on an appraisal report and certification.

SUMMARY: Signature requirements on a appraisal report and certification will be updated.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COST AND LEGISLATIVE RATIFICATION:

A Statement of Estimated Regulatory Cost was prepared. During discussion of the economic impact of the rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Cost (SERC) was necessary, but that the rule amendment will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time. The Board has determined that the rule will not have an adverse impact on small business, or likely increase regulatory costs in excess of $200,000 in the aggregate within 1 year after implementation of the rule.

The following is a summary of the SERC:

• A total of 6,900 licensed Certified Residential Appraisers and Certified General Appraisers; there are 874 registered trainee appraisers who may sign appraisal reports.
• There will be no impact to business competitiveness because all real estate appraisers across the country are required to follow the same set of standards as developed by the Appraisal Standards Board of the Appraisal Foundation.
• There will be no cost to the department for implementing the proposed rule.
• There will be no cost to any other state and local government entities of implementing the proposed rule.
• An estimated number of the small businesses that would be subject to the rule are more than 5,000.
• The rule amendment will not create a financial impact, but clarifies better definition of signature.
• No small county or small city will be impacted by the proposed rule.

Any person who wishes to provide information regarding the statement of estimated costs, or to provide a proposal for a lower regulatory cost alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 475.614, 475.613(2), 475.624(14) FS.
LAW IMPLEMENTED: 475.613(2), 475.624(14) FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE ANNOUNCED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Juana Watkins, Director, Division of Real Estate, 400 West Robinson Street, Hurston Building, North Tower, Suite N801, Orlando, Florida 32801

 

THE FULL TEXT OF THE PROPOSED RULE IS:

61J1-7.0065 Signatures on Appraisal Report and Certification.

(1) Each appraiser signing a certification of an appraisal report must sign the certification with the name that the licensee has registered with the Department. A signature may be represented by a handwritten mark or a digitized image controlled by a personal identification number, password, or other security feature. A facsimile signature may be either affixed by hand or electronically by computer software. An appraiser shall at all times maintain direct control of the appraiser’s signature.

(2) An appraiser shall develop and maintain a written method by which his or her signature shall be affixed, for its security protection and the prohibition of practices that might discredit its use.

(3) An appraiser shall not grant blanket authority to another to affix the appraiser’s signature to an appraisal report or other work performed by the appraiser. Any grant of permission to another to affix an appraiser’s signature to an appraisal report or other work performed by the appraiser shall meet the following requirements:

(a) Be in writing;

(b) Extend only to one specific appraisal report; and

(c) Be maintained in the appraiser’s work file.

Rulemaking Specific Authority 475.614 475.613(2), 475.624(14) FS. Law Implemented 475.613(2), 475.614 475.624(14) FS. History–New 12-4-06, Amended________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Real Estate Appraisal Board

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Florida Real Estate Appraisal Board

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 7, 2011

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: July 8, 2011