The Board proposes the rule amendment to include requirements for appraisal management companies.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO.: RULE TITLE:
61J1-8.005: Revocation

PURPOSE AND EFFECT: The Board proposes the rule amendment to include requirements for appraisal management companies.

SUMMARY: Requirements for appraisal management companies will be included in the rule.

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: 455.227, 475.614 FS.
LAW IMPLEMENTED: 455.227 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 TEXT OF THE PROPOSED RULE IS:

61J1-8.005 Revocation.

(1) No change.

(2) An individual whose registration, license or certification has been revoked for the above listed violation may not apply for registration for a period of five (5) years after the date of filing of the final order revoking the registration, license or certification. The applicant must meet all the requirements for initial registration as a registrant. Certification, licensure or registration will be based upon the criteria listed in Sections 475.615 and 475.624, F.S. or Sections 475.6235 and 475.6245, F.S, as applicable.

Rulemaking Specific Authority 455.227, 475.614 FS. Law Implemented 455.227(5) FS. History–New 3-26-96, 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: July 18, 2011

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: October 21, 2011