The Board proposes the rule amendment to clarify the requirement for an appraisal management company to notify the Department of a business name, mailing address, and telephone number, or any future changes made.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO.: RULE TITLE:
61J1-7.004: Office

PURPOSE AND EFFECT: The Board proposes the rule amendment to clarify the requirement for an appraisal management company to notify the Department of a business name, mailing address, and telephone number, or any future changes made.

SUMMARY: The requirement for a licensee to notify the Department of a business name, mailing address, and telephone number, or any future changes made will be clarified to apply to appraisal management companies.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COST AND LEGISLATIVE RATIFICATION:

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 not necessary and 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 this 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.

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 FS.
LAW IMPLEMENTED: 475.623 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.

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:

61J1-7.004 Office.

(1) All appraisers who have an active registration, license or certification pursuant to Part II, Chapter 475, F.S., shall furnish in writing to the Department of Business and Professional Regulation each business name, trade name, or firm name and address from which he or she operates in the performance of appraisal services. All appraisal management companies who have an active registration pursuant to Part II, Chapter 475, F.S., shall furnish in writing to the Department of Business and Professional Regulation each firm or business name, mailing address, street address, and telephone number of the appraisal management company’s principal business location from which the appraisal management company operates in the performance of appraisal management services.

(2) Each such appraiser or appraisal management company must notify the Department of any change of business name, trade name, or firm name and address within 10 days of the change of name or address in such a manner as determined by the Department.

(3) No change.

Rulemaking Authority 475.614 FS. Law Implemented 475.623, 475.6235 FS. History–New 10-15-91, Formerly 21VV-7.004, Amended 2-16-04, 12-4-06,________.

 

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: July 18, 2011

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: October 14, 2011