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09.19.05.01 - Board for Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors - Pending Regulations

 

PROPOSED ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 41, ISSUE 2,
FRIDAY, JANUARY 24, 2014

Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION

Subtitle 19 COMMISSION OF REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS - REAL ESTATE APPRAISERS

09.19.05 Code of Ethics

Authority: Business Occupations and Professions Article, §§16-208, 16-216, 16-220, 16-302(d) and (g), and 16-503(b) and (f), Annotated Code of Maryland

Notice of Proposed Action
[14-027-P-I]

The Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors proposes to amend Regulation .01 under COMAR 09.19.05 Code of Ethics. This action was considered at a public meeting of the Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors held on December 16, 2013, notice of which was published in the Daily Record on December 11, 2013, pursuant to State Government Article, §10-506(c), Annotated Code of Maryland.

Statement of Purpose

The purpose of this action is to incorporate by reference the 2014-2015 Edition of the Uniform Standards of Professional Appraisal Practice (USPAP), which were enacted by the Appraisal Standards Board of The Appraisal Foundation, effective January 1, 2014, and with which licensed and certified real estate appraisers are required, by federal mandate, to comply.

Comparison to Federal Standards

There is a corresponding federal standard to this proposed action, but the proposed action is not more restrictive or stringent.

Estimate of Economic Impact

The proposed action has no economic impact.

Economic Impact on Small Businesses

The proposed action has minimal or no economic impact on small businesses.

Impact on Individuals with Disabilities

The proposed action has no impact on individuals with disabilities.

Opportunity for Public Comment

Comments may be sent to Patricia Schott, Administrator, Commission of Real Estate Appraisers and Home Inspectors, 500 N. Calvert Street, Baltimore, MD 21202, or call 410-230-6165, or email to pschott@dllr.state.md.us, or fax to 410-333-6314. Comments will be accepted through March 7, 2014. A public hearing has not been scheduled.

Open Meeting

Final action on the proposal will be considered by Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors during a public meeting to be held on April 8, 2014, at 500 N. Calvert Street, Baltimore, MD 21202.

 

Editor's Note on Incorporation by Reference

Pursuant to State Government Article, §7-207, Annotated Code of Maryland, the Uniform Standards of Professional Appraisal Practice 2014-2015 Edition (The Appraisal Foundation)has been declared a document generally available to the public and appropriate for incorporation by reference. For this reason, it will not be printed in the Maryland Register or the Code of Maryland Regulations (COMAR). Copies of this document are filed in special public depositories located throughout the State. A list of these depositories was published in 41:1 Md. R. 9 (January 10, 2014), and is available online at www.dsd.state.md.us. The document may also be inspected at the office of the Division of State Documents, 16 Francis Street, Annapolis, Maryland 21401.

 

.01 Incorporation by Reference.
  A. (text unchanged)
  B. Document Incorporated. Uniform Standards of Professional Appraisal Practice [2012-2013] 2014-2015 Edition (The Appraisal Foundation), including Preamble, Ethics Rule, Competency Rule, Scope of Work Rule, Jurisdictional Exception, Supplemental Standards, Definitions and Standards 1, 2, and 3 with all related Standard Rules[,] and Statements on Appraisal Standards, [Advisory Opinions, Frequently Asked Questions, and index,] is incorporated by reference.

GEORGE FAIR
Chairman
Commission of Real Estate Appraisers, Appraisal
Management Companies and Home Inspectors