Bill Text: FL S1552 | 2010 | Regular Session | Introduced

Bill Title: Appraisers & Appraisal Management Companies [CPSC]

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-04-07 - CS combines this bill with SB 2210 -SJ 00525; CS by Regulated Industries; YEAS 6 NAYS 0 -SJ 00525; Original bill laid on Table, refer to combined CS/CS/SB 2210 (Laid on Table in Senate) -SJ 00525 [S1552 Detail]

Download: Florida-2010-S1552-Introduced.html
Florida Senate - 2010                                    SB 1552 
By Senator Fasano 
11-01438-10                                           20101552__ 
1                        A bill to be entitled 
2         An act relating to the regulation of real estate 
3         appraisers and appraisal management companies; 
4         amending s. 475.611, F.S.; providing definitions; 
5         amending s. 475.614, F.S.; requiring the Florida Real 
6         Estate Appraisal Board to adopt certain rules; 
7         amending s. 475.6147, F.S.; requiring application, 
8         registration, and renewal fees for appraisal 
9         management companies; creating s. 475.6235, F.S.; 
10         requiring appraisal management companies to register 
11         with the Department of Business and Professional 
12         Regulation; providing exemptions; specifying 
13         application requirements and procedures; requiring the 
14         fingerprinting and criminal history records checks of, 
15         and providing qualifications for, certain persons who 
16         control appraisal management companies; requiring 
17         nonresident appraisal management companies to consent 
18         to commencement of actions in this state; requiring 
19         the department to adopt rules relating to the renewal 
20         of registrations; amending s. 475.624, F.S.; 
21         establishing additional acts for which appraisers are 
22         subject to disciplinary action; providing for the 
23         discipline of appraisal management companies by the 
24         board; amending s. 475.626, F.S.; providing penalties; 
25         conforming provisions to changes made by the act; 
26         amending s. 475.629, F.S.; revising requirements for 
27         the retention of appraisal records; requiring 
28         appraisal management companies to follow such 
29         requirements; providing an effective date. 
31  Be It Enacted by the Legislature of the State of Florida: 
33         Section 1. Subsection (1) of section 475.611, Florida 
34  Statutes, is amended to read: 
35         475.611 Definitions.— 
36         (1) As used in this part, the term: 
37         (a) “Appraisal” or “appraisal services” means the services 
38  provided by certified or licensed appraisers or registered 
39  trainee appraisers, and includes: 
40         1. “Appraisal assignment” denotes an engagement for which a 
41  person is employed or retained to act, or could be perceived by 
42  third parties or the public as acting, as an agent or a 
43  disinterested third party in rendering an unbiased analysis, 
44  opinion, review, or conclusion relating to the nature, quality, 
45  value, or utility of specified interests in, or aspects of, 
46  identified real property. 
47         2. “Analysis assignment” denotes appraisal services that 
48  relate to the employer’s or client’s individual needs or 
49  investment objectives and includes specialized marketing, 
50  financing, and feasibility studies as well as analyses, 
51  opinions, and conclusions given in connection with activities 
52  such as real estate brokerage, mortgage banking, real estate 
53  counseling, or real estate consulting. 
54         3. “Appraisal review assignment” denotes an engagement for 
55  which an appraiser is employed or retained to develop and 
56  communicate an opinion about the quality of another appraiser’s 
57  appraisal, appraisal report, or work. An appraisal review may or 
58  may not contain the reviewing appraiser’s opinion of value. 
59         (b) “Appraisal Foundation” or “foundation” means the 
60  Appraisal Foundation established on November 20, 1987, as a not 
61  for-profit corporation under the laws of Illinois. 
62         (c) “Appraisal management company” means a person who 
63  performs appraisal management services. 
64         (d) “Appraisal management services” means the coordination 
65  or management of appraisal services for compensation by: 
66         1. Employing, contracting with, or otherwise retaining one 
67  or more appraisers to perform appraisal services for a client; 
68  or 
69         2. Acting as a broker or intermediary between a client and 
70  one or more appraisers to facilitate the client’s employing, 
71  contracting with, or otherwise retaining the appraisers. 
72         (e)(c) “Appraisal report” means any communication, written 
73  or oral, of an appraisal, appraisal review, appraisal consulting 
74  service, analysis, opinion, or conclusion relating to the 
75  nature, quality, value, or utility of a specified interest in, 
76  or aspect of, identified real property, and includes any report 
77  communicating an appraisal analysis, opinion, or conclusion of 
78  value, regardless of title. However, in order to be recognized 
79  in a federally related transaction, an appraisal report must be 
80  written. 
81         (f)(d) “Appraisal review” means the act or process of 
82  developing and communicating an opinion about the quality of 
83  another appraiser’s appraisal, appraisal report, or work. 
84         (g)(e) “Appraisal subcommittee” means the designees of the 
85  heads of the federal financial institutions regulatory agencies 
86  established by the Federal Financial Institutions Examination 
87  Council Act of 1978 (12 U.S.C. ss. 3301 et seq.), as amended. 
88         (h)(f) “Appraiser” means any person who is a registered 
89  trainee real estate appraiser, a licensed real estate appraiser, 
90  or a certified real estate appraiser. An appraiser renders a 
91  professional service and is a professional within the meaning of 
92  s. 95.11(4)(a). 
93         (i) “Appraiser panel” means a group of appraisers selected 
94  by an appraisal management company to perform appraisal services 
95  for clients on behalf of the company. 
96         (j)(g) “Board” means the Florida Real Estate Appraisal 
97  Board established under this section. 
98         (k)(h) “Certified general appraiser” means a person who is 
99  certified by the department as qualified to issue appraisal 
100  reports for any type of real property. 
101         (l)(i) “Certified residential appraiser” means a person who 
102  is certified by the department as qualified to issue appraisal 
103  reports for residential real property of one to four residential 
104  units, without regard to transaction value or complexity, or 
105  real property as may be authorized by federal regulation. 
106         (m) “Client” means a person who contracts with an appraiser 
107  or appraisal management company for the performance of appraisal 
108  services. 
109         (n)(j) “Department” means the Department of Business and 
110  Professional Regulation. 
111         (o)(k) “Direct supervision” means the degree of supervision 
112  required of a supervisory appraiser overseeing the work of a 
113  registered trainee appraiser by which the supervisory appraiser 
114  has control over and detailed professional knowledge of the work 
115  being done. Direct supervision is achieved when a registered 
116  trainee appraiser has regular direction, guidance, and support 
117  from a supervisory appraiser who has the competencies as 
118  determined by rule of the board. 
119         (p)(l) “Federally related transaction” means any real 
120  estate-related financial transaction which a federal financial 
121  institutions regulatory agency or the Resolution Trust 
122  Corporation engages in, contracts for, or regulates, and which 
123  requires the services of a state-licensed or state-certified 
124  appraiser. 
125         (q)(m) “Licensed appraiser” means a person who is licensed 
126  by the department as qualified to issue appraisal reports for 
127  residential real property of one to four residential units or on 
128  such real estate or real property as may be authorized by 
129  federal regulation. After July 1, 2003, the department shall not 
130  issue licenses for the category of licensed appraiser. 
131         (r)(n) “Registered trainee appraiser” means a person who is 
132  registered with the department as qualified to perform appraisal 
133  services only under the direct supervision of a licensed or 
134  certified appraiser. A registered trainee appraiser may accept 
135  appraisal assignments only from her or his primary or secondary 
136  supervisory appraiser. 
137         (s) “Signature” means personalized evidence indicating 
138  authentication of work performed by an appraiser and the 
139  acceptance of responsibility for the content of an appraisal, 
140  appraisal review, or appraisal consulting service or conclusions 
141  in an appraisal report. 
142         (t)(o) “Supervisory appraiser” means a licensed appraiser, 
143  a certified residential appraiser, or a certified general 
144  appraiser responsible for the direct supervision of one or more 
145  registered trainee appraisers and fully responsible for 
146  appraisals and appraisal reports prepared by those registered 
147  trainee appraisers. The board, by rule, shall determine the 
148  responsibilities of a supervisory appraiser, the geographic 
149  proximity required, the minimum qualifications and standards 
150  required of a licensed or certified appraiser before she or he 
151  may act in the capacity of a supervisory appraiser, and the 
152  maximum number of registered trainee appraisers to be supervised 
153  by an individual supervisory appraiser. 
154         (u)(p) “Training” means the process of providing for and 
155  making available to a registered trainee appraiser, under direct 
156  supervision, a planned, prepared, and coordinated program, or 
157  routine of instruction and education, in appraisal professional 
158  and technical appraisal skills as determined by rule of the 
159  board. 
160         (v)(q) “Uniform Standards of Professional Appraisal 
161  Practice” means the most recent standards approved and adopted 
162  by the Appraisal Standards Board of the Appraisal Foundation. 
163         (w)(r) “Valuation services” means services pertaining to 
164  aspects of property value and includes such services performed 
165  by certified appraisers, registered trainee appraisers, and 
166  others. 
167         (x)(s) “Work file” means the documentation necessary to 
168  support an appraiser’s analysis, opinions, and conclusions. 
169         Section 2. Section 475.614, Florida Statutes, is amended to 
170  read: 
171         475.614 Power of board to adopt rules and decide questions 
172  of practice; requirements for protection of appraiser’s 
173  signature.— 
174         (1) The board has authority to adopt rules pursuant to ss. 
175  120.536(1) and 120.54 to implement provisions of law conferring 
176  duties upon it. The board may decide questions of practice 
177  arising in the proceedings before it, having regard to this 
178  section and the rules then in force. 
179         (2) The board shall adopt rules specifying the means by 
180  which an appraiser’s signature may be affixed to an appraisal 
181  report or other work performed by the appraiser. The rules shall 
182  include requirements for protecting the security of an 
183  appraiser’s signature and prohibiting practices that may 
184  discredit the use of an appraiser’s signature to authenticate 
185  the work performed by the appraiser. 
186         Section 3. Subsection (1) of section 475.6147, Florida 
187  Statutes, is amended to read: 
188         475.6147 Fees.— 
189         (1)(a) The board by rule may establish fees to be paid for 
190  application, licensing and renewal, certification and 
191  recertification, registration and reregistration, reinstatement, 
192  and recordmaking and recordkeeping. 
193         (b) The fee for initial application of an appraiser may not 
194  exceed $150, and the combined cost of the application and 
195  examination may not exceed $300. The initial certification, 
196  registration, or license fee and the certification, 
197  registration, or license renewal fee may not exceed $150 for 
198  each year of the duration of the certification, registration, or 
199  license. 
200         (c) The fee for initial application of an appraisal 
201  management company may not exceed $150. The initial registration 
202  and registration renewal fee may not exceed $150 for each year 
203  of the duration of the registration. 
204         (d) The board may also establish by rule a late renewal 
205  penalty. 
206         (e) The board shall establish fees which are adequate to 
207  ensure its continued operation. Fees shall be based on estimates 
208  made by the department of the revenue required to implement this 
209  part and other provisions of law relating to the regulation of 
210  real estate appraisers. 
211         Section 4. Section 475.6235, Florida Statutes, is created 
212  to read: 
213         475.6235 Registration of appraisal management companies 
214  required; exemptions.— 
215         (1)(a) Except as provided in paragraph (b), a person may 
216  not engage in appraisal management services for compensation in 
217  this state, advertise or represent herself or himself as an 
218  appraisal management company, or use the titles “appraisal 
219  management company,” “appraiser cooperative,” “appraiser 
220  portal,” or “mortgage technology company,” or any abbreviation 
221  or words to that effect, unless the person is registered with 
222  the department as an appraisal management company under this 
223  section. However, an employee of an appraisal management company 
224  is not required to obtain a separate registration. 
225         (b) An appraisal management company is not required to 
226  register under this part if: 
227         1. No more than 10 percent of the appraisal management 
228  company is owned by persons other than certified or licensed 
229  appraisers; or 
230         2. The appraisal management company is a financial 
231  institution as defined in s. 655.005, a mortgage lender licensed 
232  under s. 494.0061, or an insurer as defined in s. 624.03. 
233         (2) An application for registration must be submitted to 
234  the department in the format prescribed by the department and 
235  must include, at a minimum, the following: 
236         (a) The firm or business name under which the appraisal 
237  management company conducts business in this state. The 
238  appraisal management company must notify the department of any 
239  change in the firm or business name, on a form provided by the 
240  department, within 10 days after such change. 
241         (b) The mailing address, street address, and telephone 
242  number of the appraisal management company’s principal business 
243  location. The appraisal management company must notify the 
244  department of any change in the mailing or street address, on a 
245  form provided by the department, within 10 days after such 
246  change. 
247         (c) The appraisal management company’s federal employer 
248  identification number. 
249         (d) The appraisal management company’s type of business 
250  organization, such as a corporation, partnership, limited 
251  liability company, or sole proprietorship. 
252         (e) A statement as to whether the appraisal management 
253  company, if incorporated, is a domestic or foreign corporation, 
254  the company’s date of incorporation, the state in which the 
255  company was incorporated, its charter number, and, if it is a 
256  foreign corporation, the date that the company first registered 
257  with the Department of State to conduct business in this state. 
258         (f) The full name, street address, telephone number, 
259  corporate title, and social security number or federal employer 
260  identification number of any person who possesses the authority, 
261  directly or indirectly, to direct the management or policies of 
262  the appraisal management company, whether through ownership, by 
263  contract, or otherwise, including, but not limited to: 
264         1. Each officer and director if the appraisal management 
265  company is a corporation. 
266         2. Each general partner if the appraisal management company 
267  is a partnership. 
268         3. Each manager or managing member if the appraisal 
269  management company is a limited liability company. 
270         4. The owner if the appraisal management company is a sole 
271  proprietorship. 
272         5. Each other person who, directly or indirectly, owns or 
273  controls 10 percent or more of an ownership interest in the 
274  appraisal management company. 
275         (g) The firm or business name under which any person listed 
276  in paragraph (f) conducted business as an appraisal management 
277  company within the 5 years preceding the date of the 
278  application. 
279         (h) The appraisal management company’s registered agent for 
280  service of process in this state. 
281         (3) Appropriate fees, as set forth in the rules of the 
282  board pursuant to s. 475.6147, and a complete set of 
283  fingerprints for each person listed in paragraph (2)(f) must 
284  accompany all applications for registration. The fingerprints 
285  shall be forwarded to the Division of Criminal Justice 
286  Information Systems within the Department of Law Enforcement for 
287  the purpose of processing the fingerprints to determine whether 
288  the person has a criminal history record. The fingerprints shall 
289  also be forwarded to the Federal Bureau of Investigation for the 
290  purpose of processing the fingerprints to determine whether the 
291  person has a criminal history record. The information obtained 
292  by the processing of fingerprints by the Department of Law 
293  Enforcement and the Federal Bureau of Investigation shall be 
294  sent to the department for the purpose of determining whether 
295  the appraisal management company is statutorily qualified for 
296  registration. 
297         (4) At the time of filing an application for registration 
298  of an appraisal management company, each person listed in 
299  paragraph (2)(f) must sign a pledge to comply with the Uniform 
300  Standards of Professional Appraisal Practice upon registration 
301  and must indicate in writing that she or he understands the 
302  types of misconduct for which disciplinary proceedings may be 
303  initiated. The application shall expire 1 year after the date 
304  received. 
305         (5) Each person listed in paragraph (2)(f) must be 
306  competent and qualified to engage in appraisal management 
307  services with safety to the general public and those with whom 
308  the person may undertake a relationship of trust and confidence. 
309  If any person listed in paragraph (2)(f) has been denied 
310  registration, licensure, or certification as an appraiser or has 
311  been disbarred, or if the person’s registration, license, or 
312  certificate to practice or conduct any regulated profession, 
313  business, or vocation has been revoked or suspended by this or 
314  any other state, any nation, any possession or district of the 
315  United States, or any court or lawful agency thereof because of 
316  any conduct or practices that would have warranted a like result 
317  under this part, or if the person has been guilty of conduct or 
318  practices in this state or elsewhere that would have been 
319  grounds for disciplining her or his registration, license, or 
320  certification under this part had the person then been a 
321  registered trainee appraiser or a licensed or certified 
322  appraiser, the person shall be deemed not to be qualified 
323  unless, because of lapse of time and subsequent good conduct and 
324  reputation, or other reason deemed sufficient, it appears to the 
325  board that the interest of the public is not likely to be 
326  endangered by the granting of registration. 
327         (6) An applicant seeking to become registered under this 
328  part as an appraisal management company may not be rejected 
329  solely by virtue of membership or lack of membership of any 
330  person listed in paragraph (2)(f) or any employee of the company 
331  in any particular appraisal organization. 
332         (7) An applicant for registration who is not a resident of 
333  this state shall file an irrevocable consent that suits and 
334  actions may be commenced against the appraisal management 
335  company in any county of this state in which a plaintiff having 
336  a cause of action or suit against the company resides and that 
337  service of any process or pleading in suits or actions against 
338  the company may be made by delivering the process or pleading to 
339  the director of the Division of Real Estate by certified mail, 
340  return receipt requested, and also to the appraisal management 
341  company by registered mail addressed to the company’s designated 
342  principal business location. Service, when so made, must be 
343  taken and held in all courts to be as valid and binding upon the 
344  appraisal management company as if made upon the company in this 
345  state within the jurisdiction of the court in which the suit or 
346  action is filed. The irrevocable consent must be in a form 
347  prescribed by the department and be acknowledged before a notary 
348  public. 
349         (8) The department shall renew the registration of an 
350  appraisal management company upon receipt of the renewal 
351  application and the proper fee. The department shall adopt rules 
352  establishing a procedure for renewal of the registration of an 
353  appraisal management company at least every 4 years. 
354         Section 5. Section 475.624, Florida Statutes, is amended to 
355  read: 
356         475.624 Discipline.— 
357         (1) The board may deny an application for registration or 
358  certification of an appraiser or registration of an appraisal 
359  management company; may investigate the actions of any appraiser 
360  registered, licensed, or certified under this part or any 
361  appraisal management company registered under this part; may 
362  reprimand or impose an administrative fine not to exceed $5,000 
363  for each count or separate offense against any such appraiser or 
364  appraisal management company; and may revoke or suspend, for a 
365  period not to exceed 10 years, the registration, license, or 
366  certification of any such appraiser or the registration of any 
367  such appraisal management company, or place any such appraiser 
368  or appraisal management company on probation, if the board it 
369  finds that the registered trainee, licensee, or 
370  certificateholder or the appraisal management company or any 
371  person listed in s. 475.6235(2)(f): 
372         (a)(1) Has violated any provisions of this part or s. 
373  455.227(1); however, certificateholders, registrants, and 
374  licensees, and registered appraisal management companies under 
375  this part are exempt from the provisions of s. 455.227(1)(i). 
376         (b)(2) Has been guilty of fraud, misrepresentation, 
377  concealment, false promises, false pretenses, dishonest conduct, 
378  culpable negligence, or breach of trust in any business 
379  transaction in this state or any other state, nation, or 
380  territory; has violated a duty imposed upon her or him by law or 
381  by the terms of a contract, whether written, oral, express, or 
382  implied, in an appraisal assignment; has aided, assisted, or 
383  conspired with any other person engaged in any such misconduct 
384  and in furtherance thereof; or has formed an intent, design, or 
385  scheme to engage in such misconduct and committed an overt act 
386  in furtherance of such intent, design, or scheme. It is 
387  immaterial to the guilt of the registered trainee, licensee, or 
388  certificateholder, or appraisal management company that the 
389  victim or intended victim of the misconduct has sustained no 
390  damage or loss; that the damage or loss has been settled and 
391  paid after discovery of the misconduct; or that such victim or 
392  intended victim was a customer or a person in confidential 
393  relation with the registered trainee, licensee, or 
394  certificateholder, or appraisal management company or was an 
395  identified member of the general public. 
396         (c)(3) Has advertised services in a manner which is 
397  fraudulent, false, deceptive, or misleading in form or content. 
398         (d)(4) Has violated any of the provisions of this part or 
399  any lawful order or rule issued under the provisions of this 
400  part or chapter 455. 
401         (e)(5) Has been convicted or found guilty of, or entered a 
402  plea of nolo contendere to, regardless of adjudication, a crime 
403  in any jurisdiction which directly relates to the activities of 
404  a registered trainee appraiser, or licensed or certified 
405  appraiser, or appraisal management company or which involves 
406  moral turpitude or fraudulent or dishonest conduct. The record 
407  of a conviction certified or authenticated in such form as 
408  admissible in evidence under the laws of the state shall be 
409  admissible as prima facie evidence of such guilt. 
410         (f)(6) Has had a registration, license, or certification as 
411  an appraiser or a registration as an appraisal management 
412  company revoked, suspended, or otherwise acted against, or has 
413  been disbarred, or has had her or his registration, license, or 
414  certificate to practice or conduct any regulated profession, 
415  business, or vocation revoked or suspended by this or any other 
416  state, any nation, or any possession or district of the United 
417  States, or has had an application for such registration, 
418  licensure, or certification to practice or conduct any regulated 
419  profession, business, or vocation denied by this or any other 
420  state, any nation, or any possession or district of the United 
421  States. 
422         (g)(7) Has become temporarily incapacitated from acting as 
423  an appraiser or appraisal management company with safety to 
424  those in a fiduciary relationship with her or him because of 
425  drunkenness, use of drugs, or temporary mental derangement; 
426  however, suspension of a license, certification, or registration 
427  in such cases shall only be for the period of such incapacity. 
428         (h)(8) Is confined in any county jail, postadjudication; is 
429  confined in any state or federal prison or mental institution; 
430  or, through mental disease or deterioration, can no longer 
431  safely be entrusted to deal with the public or in a confidential 
432  capacity. 
433         (i)(9) Has failed to inform the board in writing within 30 
434  days after pleading guilty or nolo contendere to, or being 
435  convicted or found guilty of, any felony. 
436         (j)(10) Has been found guilty, for a second time, of any 
437  misconduct that warrants disciplinary action, or has been found 
438  guilty of a course of conduct or practice which shows that she 
439  or he is incompetent, negligent, dishonest, or untruthful to an 
440  extent that those with whom she or he may sustain a confidential 
441  relationship may not safely do so. 
442         (k)(11) Has made or filed a report or record, either 
443  written or oral, which the registered trainee, licensee, or 
444  certificateholder, or appraisal management company knows to be 
445  false; has willfully failed to file a report or record required 
446  by state or federal law; or has willfully impeded or obstructed 
447  such filing, or has induced another person to impede or obstruct 
448  such filing. However, such reports or records shall include only 
449  those which are signed or presented in the capacity of a 
450  registered trainee appraiser, or licensed or certified 
451  appraiser, or appraisal management company. 
452         (l)(12) Has obtained or attempted to obtain a registration, 
453  license, or certification by means of knowingly making a false 
454  statement, submitting false information, refusing to provide 
455  complete information in response to an application question, or 
456  engaging in fraud, misrepresentation, or concealment. 
457         (m)(13) Has paid money or other valuable consideration, 
458  except as required by this section, to any member or employee of 
459  the board to obtain a registration, license, or certification 
460  under this section. 
461         (n)(14) Has violated any standard for the development or 
462  communication of a real estate appraisal or other provision of 
463  the Uniform Standards of Professional Appraisal Practice. 
464         (o)(15) Has failed or refused to exercise reasonable 
465  diligence in developing an appraisal or preparing an appraisal 
466  report. 
467         (p)(16) Has failed to communicate an appraisal without good 
468  cause. 
469         (q)(17) Has accepted an appraisal assignment if the 
470  employment itself is contingent upon the appraiser or appraisal 
471  management company reporting a predetermined result, analysis, 
472  or opinion, or if the fee to be paid for the performance of the 
473  appraisal assignment is contingent upon the opinion, conclusion, 
474  or valuation reached upon the consequences resulting from the 
475  appraisal assignment. 
476         (r)(18) Has failed to timely notify the department of any 
477  change in business location, or has failed to fully disclose all 
478  business locations from which she or he operates as a registered 
479  trainee real estate appraiser or licensed or certified real 
480  estate appraiser. 
481         (s) Has failed to timely notify the department of any 
482  change in principal business location as an appraisal management 
483  company. 
484         (t) Has influenced or attempted to influence the 
485  development, reporting, or review of an appraisal through 
486  coercion, extortion, collusion, compensation, instruction, 
487  inducement, intimidation, bribery, or any other means, 
488  including, but not limited to: 
489         1. Withholding or threatening to withhold timely payment 
490  for an appraisal. 
491         2. Withholding or threatening to withhold future business 
492  from an appraiser. 
493         3. Demoting, terminating, or threatening to demote or 
494  terminate an appraiser. 
495         4. Promising future business, promotions, or increased 
496  compensation for an appraiser, whether the promise is express or 
497  implied. 
498         5. Conditioning a request for appraisal services or the 
499  payment of an appraisal fee, salary, or bonus upon the opinion, 
500  conclusion, or valuation to be reached or upon a preliminary 
501  estimate or opinion requested from an appraiser. 
502         6. Requesting that an appraiser provide an estimated, 
503  predetermined, or desired valuation in an appraisal report or 
504  provide estimated values or comparable sales at any time before 
505  the appraiser’s completion of appraisal services. 
506         7. Providing to an appraiser an anticipated, estimated, 
507  encouraged, or desired value for a subject property or a 
508  proposed or target amount to be loaned to the borrower, except 
509  that a copy of the sales contract for purchase transactions may 
510  be provided. 
511         8. Providing to an appraiser, or any person related to the 
512  appraiser, stock or other financial or nonfinancial benefits. 
513         9. Allowing the removal of an appraiser from an appraiser 
514  panel without prior written notice to the appraiser. 
515         10. Obtaining, using, or paying for a second or subsequent 
516  appraisal or ordering an automated valuation model in connection 
517  with a mortgage financing transaction unless there is a 
518  reasonable basis to believe that the initial appraisal was 
519  flawed or tainted and such basis is clearly and appropriately 
520  noted in the loan file, or unless such appraisal or automated 
521  valuation model is issued pursuant to a bona fide prefunding or 
522  postfunding appraisal review or quality control process. 
523         11. Any other act or practice that impairs or attempts to 
524  impair an appraiser’s independence, objectivity, or 
525  impartiality. 
526         (u) Has altered, modified, or otherwise changed a completed 
527  appraisal report submitted by an appraiser to an appraisal 
528  management company. 
529         (v) Has employed, contracted with, or otherwise retained an 
530  appraiser whose registration, license, or certification is 
531  suspended or revoked to perform appraisal services or appraisal 
532  management services. 
533         (2) The board may reprimand an appraisal management 
534  company, conditionally or unconditionally suspend or revoke any 
535  registration of an appraisal management company issued under 
536  this part, or impose administrative fines not to exceed $25,000 
537  for each count or separate offense against any such appraisal 
538  management company if the board determines that the appraisal 
539  management company is attempting to perform, has performed, or 
540  has attempted to perform any of the following acts: 
541         (a) Committing any act in violation of this part. 
542         (b) Violating any rule adopted by the board under this 
543  part. 
544         (c) Obtaining a registration of an appraisal management 
545  company by fraud, misrepresentation, or deceit. 
546         (3) This section does not prohibit an appraisal management 
547  company from requesting that an appraiser: 
548         (a) Provide additional information about the basis of a 
549  valuation; or 
550         (b) Correct objective factual errors in an appraisal 
551  report. 
552         Section 6. Section 475.626, Florida Statutes, is amended to 
553  read: 
554         475.626 Violations and penalties.— 
555         (1) A person may not: VIOLATIONS.— 
556         (a) No person shall Operate or attempt to operate as a 
557  registered trainee appraiser, a or licensed or certified 
558  appraiser, or, unless exempt under s. 475.6235(1)(b), an 
559  appraisal management company without being the holder of a valid 
560  and current registration, license, or certification. 
561         (b) No person shall Violate any lawful order or rule of the 
562  board which is binding upon her or him. 
563         (c) No person shall Commit any conduct or practice set 
564  forth in s. 475.624(1) or (2). 
565         (d) No person shall Make any false affidavit or affirmation 
566  intended for use as evidence by or before the board or any 
567  member thereof, or by any of its authorized representatives, nor 
568  may shall any person give false testimony under oath or 
569  affirmation to or before the board or any member thereof in any 
570  proceeding authorized by this section. 
571         (e) No person shall Fail or refuse to appear at the time 
572  and place designated in a subpoena issued with respect to a 
573  violation of this section, unless such failure to appear is the 
574  result of facts or circumstances that are sufficient to excuse 
575  appearance in response to a subpoena from the circuit court; nor 
576  may shall a person who is present before the board or a member 
577  thereof or one of its authorized representatives acting under 
578  authority of this section refuse to be sworn or to affirm or 
579  fail or refuse to answer fully any question propounded by the 
580  board, the member, or such representative, or by any person by 
581  the authority of such officer or appointee. 
582         (f) No person shall Obstruct or hinder in any manner the 
583  enforcement of this section or the performance of any lawful 
584  duty by any person acting under the authority of this section, 
585  or interfere with, intimidate, or offer any bribe to any member 
586  of the board or any of its employees or any person who is, or is 
587  expected to be, a witness in any investigation or proceeding 
588  relating to a violation of this section. 
589         (g) No person shall Knowingly conceal any information 
590  relating to violations of this section. 
591         (2) A PENALTIES.—Any person who violates any provision of 
592  the provisions of subsection (1) commits is guilty of a 
593  misdemeanor of the second degree, punishable as provided in s. 
594  775.082 or s. 775.083, except when a different punishment is 
595  prescribed by this section. Nothing in This section does not 
596  shall prohibit the prosecution under any other criminal statute 
597  of this state of any person for an act or conduct prohibited by 
598  this section; however, in such cases, the state may prosecute 
599  under this section or under such other statute, or may charge 
600  both offenses in one prosecution, but the sentence imposed shall 
601  not be a greater fine or longer sentence than that prescribed 
602  for the offense which carries the more severe penalties. A civil 
603  case, a criminal case, or a denial, revocation, or suspension 
604  proceeding may arise out of the same alleged state of facts, and 
605  the pendency or result of one such case or proceeding shall not 
606  stay or control the result of either of the others. 
607         Section 7. Section 475.629, Florida Statutes, is amended to 
608  read: 
609         475.629 Retention of records.—An appraiser registered, 
610  licensed, or certified under this part or an appraisal 
611  management company registered under this part shall retain, for 
612  at least 5 years or the period specified in the Uniform 
613  Standards of Professional Appraisal Practice, whichever is 
614  greater, original or true copies of any contracts engaging the 
615  appraiser’s or appraisal management company’s services, 
616  appraisal reports, and supporting data assembled and formulated 
617  by the appraiser or company in preparing appraisal reports or 
618  engaging in appraisal management services. Except as otherwise 
619  specified in the Uniform Standards of Professional Appraisal 
620  Practice, the period for retention of the records applicable to 
621  each engagement of the services of the appraiser or appraisal 
622  management company runs from the date of the submission of the 
623  appraisal report to the client. These records must be made 
624  available by the appraiser or appraisal management company for 
625  inspection and copying by the department upon on reasonable 
626  notice to the appraiser or company. If an appraisal has been the 
627  subject of or has served as evidence for litigation, reports and 
628  records must be retained for at least 2 years after the trial or 
629  the period specified in the Uniform Standards of Professional 
630  Appraisal Practice, whichever is greater. 
631         Section 8. This act shall take effect July 1, 2010.