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. 30 31 Be It Enacted by the Legislature of the State of Florida: 32 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 boardit369 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,and374 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,or388 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,or394 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,orlicensed 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,or444 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,orlicensed 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 shallOperate or attempt to operate as a 557 registered trainee appraiser, aorlicensed 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 shallViolate any lawful order or rule of the 562 board which is binding upon her or him. 563 (c)No person shallCommit any conduct or practice set 564 forth in s. 475.624(1) or (2). 565 (d)No person shallMake 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 mayshallany 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 shallFail 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 mayshalla 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 shallObstruct 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 shallKnowingly conceal any information 590 relating to violations of this section. 591 (2) APENALTIES.—Anyperson who violates any provision of 592the provisions ofsubsection (1) commitsis guilty ofa 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 inThis section does not 596shallprohibit 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 612at least5 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 upononreasonable 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.
