Section 193F.2.1. Applicability.

 The following definitions shall be applicable to the rules of the real estate appraiser examining board.

“Appraisal Foundation”   means the Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November 30, 1987.

“Appraisal subcommittee”   means the appraisal subcommittee of the Federal Financial Institutions Examination Council.

“AQB”   means the Appraiser Qualifications Board of the Appraisal Foundation.

“ASB”   means the Appraisal Standards Board of the Appraisal Foundation.

“Associate real property appraiser”    or   “associate appraiser”    means an individual who has registered with the board as an associate real property appraiser, as defined in Iowa Code section 543D.2(5), and who is training to become a certified residential or certified general real property appraiser.

“Certified appraiser”   means an individual who has been certified in one of the following two classifications:

            1.      The certified residential real property appraiser classification, which is limited to the appraisal of one to four residential units without regard to transaction value.

            2.      The certified general real property appraiser classification, which applies to the appraisal of all types of real property.

“FIRREA”   means the Financial Institutions Reform Recovery and Enforcement Act of 1989.

“Knowingly”   means done with awareness and deliberateness.

“Law”   means the “Iowa Voluntary Appraisal Standards and Appraiser Certification Law of 1989,” Iowa Code chapter 543D.

“Superintendent”   means the superintendent of banking or the superintendent’s designee. The designee shall not be a certified or licensed real estate appraiser, a registered associate real estate appraiser, or a trainee real estate appraiser in any jurisdiction.

“USPAP”   means the Uniform Standards of Professional Appraisal Practice published by the Appraisal Foundation.

This rule is intended to implement Iowa Code section 543D.2.

[ ARC 9865B , IAB 11/30/11, effective 1/4/12;    ARC 2808C , IAB 11/9/16, effective 1/1/17]