SENATE BILL 97090
BY SENATOR Phillips;
also REPRESENTATIVE Pfiffner.
CONCERNING LIMITATIONS ON THE LICENSING OF REAL ESTATE
APPRAISERS, AND, IN CONNECTION THEREWITH, CLARIFYING WHEN A REAL
ESTATE APPRAISER IS REQUIRED TO BE REGISTERED, LICENSED, OR CERTIFIED.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 1261706
(5) (b), Colorado Revised Statutes, 1991 Repl. Vol., as amended,
is amended to read:
1261706. Qualifications
for registration, licensing, and certification of appraisers
continuing education. (5) (b) Appraiser
employees of county assessors WHO ARE EMPLOYED TO APPRAISE REAL
PROPERTY shall be subject to all provisions of this part 7; except
that appraiser employees of county assessors WHO ARE EMPLOYED
TO APPRAISE REAL PROPERTY shall not be subject to disciplinary
actions by the board on the ground that they have performed appraisals
beyond their level of competency when appraising real estate in
fulfillment of their official duties. COUNTY ASSESSORS, IF REGISTERED,
LICENSED, OR CERTIFIED AS PROVIDED IN SUBSECTIONS (1) AND (2)
OF THIS SECTION, SHALL NOT BE SUBJECT TO DISCIPLINARY ACTIONS
BY THE BOARD ON THE GROUND THAT THEY HAVE PERFORMED APPRAISALS
BEYOND THEIR LEVEL OF COMPETENCY WHEN APPRAISING REAL ESTATE IN
FULFILLMENT OF THEIR OFFICIAL DUTIES.
SECTION 2. 1261707
(1), Colorado Revised Statutes, 1991 Repl. Vol., as amended, is
amended to read:
1261707. Expiration of
licenses renewal penalties.
(1) (a) Any registration, license, or certificate
issued by the board shall expire on January
1 DECEMBER 31 of the third
SECOND year following issuance if not timely renewed; except that
the initial registration, license, or certificate issued to a
person shall expire January 1
ON DECEMBER 31 of the year following
OF issuance and shall be renewed as provided in this section.
Upon compliance with this section and any applicable rules and
regulations of the board regarding renewal, including the payment
of a renewal fee plus a late payment
penalty REINSTATEMENT fee established
pursuant to section 1261705
PARAGRAPH (b) OF THIS SUBSECTION (1), the expired registration,
license, or certificate shall be reinstated. No real estate appraiser's
registration, license, or certificate which
THAT has not been renewed for a period of time greater than two
years shall be reinstated, and such person shall be required to
make new application for registration, licensure, or certification.
(b) A PERSON WHO FAILS TO RENEW HIS OR
HER REGISTRATION, LICENSE, OR CERTIFICATE PRIOR TO JANUARY 1 OF
THE YEAR SUCCEEDING THE YEAR OF THE EXPIRATION OF SUCH REGISTRATION,
LICENSE, OR CERTIFICATE MAY HAVE IT REINSTATED IF THE PERSON DOES
ANY ONE OF THE FOLLOWING:
(I) MAKES PROPER APPLICATION, WITHIN THIRTYONE
DAYS AFTER THE DATE OF EXPIRATION, BY PAYMENT OF THE REGULAR THREEYEAR
RENEWAL FEE; OR
(II) IF PROPER APPLICATION IS MADE MORE
THAN THIRTYONE DAYS, BUT WITHIN ONE YEAR, AFTER THE DATE
OF EXPIRATION, BY PAYMENT OF THE REGULAR THREEYEAR RENEWAL
FEE AND PAYMENT OF A REINSTATEMENT FEE EQUAL TO ONETHIRD
THE REGULAR THREEYEAR RENEWAL FEE; OR
(III) IF PROPER APPLICATION IS MADE MORE
THAN ONE YEAR, BUT WITHIN TWO YEARS, AFTER THE DATE OF EXPIRATION,
BY PAYMENT OF THE REGULAR THREEYEAR RENEWAL FEE AND PAYMENT
OF A REINSTATEMENT FEE EQUAL TO TWOTHIRDS THE REGULAR THREEYEAR
RENEWAL FEE.
SECTION 3. 1261712
(1) (a), Colorado Revised Statutes, 1991 Repl. Vol., as amended,
is amended to read:
1261712. Unlawful acts. (1) It is unlawful for any person to:
(a) Violate any provision of this part
7, or on and after July 1, 1996
1997, to perform a real estate appraisal in conjunction with a
debt instrument that is federally guaranteed or in the federal
secondary market and
OR regulated pursuant to title 12, U.S.C., without first having
obtained a registration, license, or certificate from the board
pursuant to this part 7.
SECTION 4. 1261714
(1) and (2), Colorado Revised Statutes, 1991 Repl. Vol., as amended,
are amended to read:
1261714. Special provision
for appraiser employees of county assessors.
(1) Except as provided in subsection (2) of this section,
unless a federal waiver is applied for and granted pursuant to
section 1261704 (1) (j), on and after July 1, 1991
1997, any person acting as a real estate appraiser in this state
IN CONJUNCTION WITH A DEBT INSTRUMENT THAT IS FEDERALLY GUARANTEED
OR IN THE FEDERAL SECONDARY MARKET OR REGULATED PURSUANT TO TITLE
12, U.S.C., shall be REGISTERED, licensed, OR CERTIFIED as provided
in this part 7, and, on and after said date, no person shall practice
IN CONJUNCTION WITH A DEBT INSTRUMENT THAT IS FEDERALLY GUARANTEED
OR IN THE FEDERAL SECONDARY MARKET OR REGULATED PURSUANT TO TITLE
12, U.S.C., without such a REGISTRATION, license, or certificate
or hold himself OR HERSELF out to the public as a REGISTERED,
LICENSED, OR CERTIFIED real estate appraiser unless REGISTERED,
licensed, or certified pursuant to this part 7.
(2) Any appraiser employee of any county
assessor WHO IS EMPLOYED TO APPRAISE REAL PROPERTY SHALL BE REGISTERED,
LICENSED, OR CERTIFIED AS PROVIDED IN THIS PART 7 AND shall have
one year
TWO YEARS from the date of taking office or the beginning of employment
to comply with the provisions of this part 7.
SECTION 5. Effective date.
This act shall take effect at 12:01 a.m. on the day following
the expiration of the ninetyday period after final adjournment
of the general assembly that is allowed for submitting a referendum
petition pursuant to article V, section 1 (3) of the state constitution;
except that, if a referendum petition is filed against this act
or an item, section, or part of this act within such period, then
the act, item, section, or part, if approved by the people, shall
take effect on the date of the official declaration of the vote
thereon by proclamation of the governor.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Joan M. Albi Judith M. Rodrigue
SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE OF COLORADO