MISSISSIPPI LEGISLATURE
2024 Regular Session
To: Business and Commerce
By: Representative Barnett
AN ACT TO AUTHORIZE A PERSON LICENSED AS A PROPERTY DATA COLLECTOR TO COLLECT DATA FOR REAL ESTATE AND REAL PROPERTY IN THE STATE OF MISSISSIPPI FOR THE PURPOSE OF PROVIDING SUCH DATA TO A LICENSED REAL ESTATE APPRAISER WHO USES THE DATA IN THE COURSE OF FORMING AN OPINION OF VALUE FOR AN IDENTIFIED PARCEL OF REAL ESTATE OR IDENTIFIED REAL PROPERTY AT A PARTICULAR POINT IN TIME; TO REQUIRE THAT APPLICATIONS FOR A PROPERTY DATA COLLECTOR LICENSE, APPLICATION FOR RENEWAL, AND APPLICATION TO TAKE AN EXAMINATION SHALL BE MADE IN WRITING TO THE MISSISSIPPI REAL ESTATE APPRAISAL BOARD; TO PROVIDE CERTAIN REQUIREMENTS FOR APPLICANTS TO QUALIFY TO BE A LICENSED PROPERTY DATA COLLECTOR; TO REQUIRE THAT AN APPLICANT BE SUCCESSFULLY CLEARED FOR LICENSURE THROUGH A BACKGROUND INVESTIGATION TO QUALIFY FOR A MISSISSIPPI PROPERTY DATA COLLECTOR LICENSE; TO REQUIRE LICENSED PROPERTY DATA COLLECTORS TO OBTAIN ERRORS AND OMISSIONS INSURANCE IN AN AMOUNT THAT IS NO LESS THAN THE COVERAGE REQUIRED FOR LICENSED REAL ESTATE APPRAISERS; TO REQUIRE LICENSED PROPERTY DATA COLLECTORS TO COMPLETE TWENTY-EIGHT HOURS OF CONTINUING EDUCATION FOR RENEWAL OF A LICENSE; TO REQUIRE A LICENSED PROPERTY DATA COLLECTOR TO RETAIN FOR A PERIOD OF FIVE YEARS THE ORIGINAL OR A TRUE COPY OF EACH PROPERTY DATA COLLECTION REPORT PREPARED OR SIGNED BY SUCH PROPERTY DATA COLLECTOR AND ALL SUPPORTING DATA ASSEMBLED AND FORMULATED BY THE PROPERTY DATA COLLECTOR IN PREPARING EACH SUCH PROPERTY DATA COLLECTION REPORT; TO AMEND SECTIONS 73-34-3, 73-34-5, 73-34-9, 73-34-43, 73-34-47, 73-34-49, 73-34-51, AND 73-34-55, MISSISSIPPI CODE OF 1972, WHICH RELATE TO LICENSED REAL ESTATE APPRAISERS AND THE MISSISSIPPI REAL ESTATE APPRAISAL BOARD, TO CONFORM TO THE PRECEDING PROVISIONS; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. No person other than a licensed property data collector under this chapter shall assume or use that title or any title, designation or abbreviation likely to create the impression of certification as a property data collector by this state.
An individual who has qualified as a licensed property data collector under this chapter is authorized to prepare and sign a certified property data collector report relating to real estate or real property in this state. An individual who has not qualified as a licensed property data collector under this chapter shall not prepare or sign any property data collector report relating to real estate or real property in this state using the term "State Certified Property Data Collection Report".
SECTION 2. Applications for a property data collector license, application for renewal, and application to take an examination shall be made in writing to the board on approved forms. The payment of the appropriate fee, as fixed under Section 73-34-45, must accompany all applications for licensure and renewal thereof and all applications to take an examination. At the time of filing an application for licensure under this chapter, or for renewal, each applicant shall sign a pledge to comply with the standards of professional property data collection practices that are established from time to time for licensed property data collectors under this chapter. Each applicant shall also certify that he or she understands the types of misconduct, as set forth in this chapter, for which disciplinary proceedings may be initiated against a licensed property data collector. Each application or filing made under this section shall include the last four (4) digits of the applicant's social security number.
SECTION 3. (1) (a) To qualify for a Mississippi property data collector license, an applicant must have successfully been cleared for licensure through an investigation that shall consist of a determination that the applicant does not possess a background which calls into question public trust, as set forth below in subsection (2), and verification that the prospective licensee is not guilty of or in violation of any statutory ground for denial of licensure as set forth in Section 73-34-35.
(b) To assist the board in conducting its licensure investigation, all applicants for a property data collector license as a licensed property data collector and all applicants for renewal of any property data collector license shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database. Each applicant shall submit a full set of the applicant's fingerprints in a form and manner prescribed by the board, which shall be forwarded to the Mississippi Department of Public Safety (department) and the Federal Bureau of Investigation Identification Division for this purpose.
(c) Any and all state or national criminal history records information obtained by the board that is not already a matter of public record shall be deemed nonpublic and confidential information restricted to the exclusive use of the board, its members, officers, investigators, agents and attorneys in evaluating the applicant's eligibility or disqualification for licensure, and shall be exempt from the Mississippi Public Records Act of 1983. Except when introduced into evidence in a hearing before the board to determine licensure, no such information or records related thereto shall, except with the written consent of the applicant or by order of a court of competent jurisdiction, be released or otherwise disclosed by the board to any other person or agency.
(d) The board shall provide to the department the fingerprints of the applicant, any additional information that may be required by the department, and a form signed by the applicant consenting to the check of the criminal records and to the use of the fingerprints and other identifying information required by the state or national repositories.
(e) The board shall charge and collect from the applicant, in addition to all other applicable fees and costs, such amount as may be incurred by the board in requesting and obtaining state and national criminal history records information on the applicant.
(2) (a) The board must ensure that applicants for a property data collector license do not possess a background that could call into question public trust. An applicant found by the board to possess a background which calls into question the applicant's ability to maintain public trust shall not be issued a property data collector license.
(b) The board shall not issue a property data collector license if:
(i) The applicant has had property a data collector license revoked in any governmental jurisdiction within the five-year period immediately preceding the date of the application;
(ii) The applicant has been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, or foreign court:
1. During the five-year period immediately preceding the date of the application for licensing; or
2. At any time preceding the date of the application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering.
(iii) The applicant has failed to demonstrate character and general fitness such as to command the confidence of the community and to warrant a determination that the property data collector will operate honestly, fairly and efficiently within the purpose of these criteria.
(c) The board shall evaluate and consider, by rules and regulations, additional background issues, including, but not limited to, those required by the Appraiser Qualifications Board of the Appraisal Foundation in compliance with federal requirements, prior to issuing, or taking disciplinary action against, a property data collector.
(d) The board shall adopt rules and regulations necessary to implement, administer and enforce the provisions of this section.
SECTION 4. A person licensed as a property data collector is authorized to collect data for all types of real estate and real property in this state, including, but not limited to, commercial, industrial, and residential, for the purpose of providing such data to a licensed real estate appraiser who uses the data in the course of forming an opinion of value for an identified parcel of real estate or identified real property at a particular point in time.
SECTION 5. To qualify to be a licensed property data collector, an applicant must:
(a) Successfully complete the number and type of classroom hours or other educational qualifications that meet or exceed the qualifications required by the Appraiser Qualifications Board.
(b) Provide evidence satisfactory to the board that the applicant has completed the number of hours of experience in performing property data collection over the specified number of calendar years that meet or exceed the number of hours of experience over the specified number of calendar years as required by the Appraiser Qualifications Board.
(c) Pass any examination administered by the board or its designated agent that is consistent with other requirements of this chapter and approved by the Appraiser Qualifications Board when such approval is required.
(d) Be trustworthy and competent to transact the business of property data collection.
(e) Comply with such other requirements as may be prescribed by the board.
SECTION 6. As a prerequisite to taking the examination for licensing as a licensed property data collector, an applicant shall present acceptable evidence that he or she has successfully completed:
(a) The number and type of classroom hours or other educational qualifications that meet or exceed the qualifications required by the Appraiser Qualifications Board; and
(b) The number of hours of experience in performing property data collection over the specified number of calendar years that meet or exceed the number of hours of experience over the specified number of calendar years as required by the Appraiser Qualifications Board.
The board may adopt rules and regulations as may be necessary to implement the requirements established by the Appraiser Qualifications Board.
SECTION 7. Licensed property data collectors shall obtain errors and omissions insurance in an amount that is no less than the coverage required for licensed real estate appraisers.
The Mississippi Real Estate Appraisal Board shall require receipt of proof of errors and omissions insurance from new property data collector licensees within thirty (30) days of licensure.
For licensees not submitting proof of insurance necessary to continue active licensure, the board shall be responsible for sending notice of deficiency to those licensees. Licensees who do not correct the deficiency within thirty (30) days shall have their licenses placed on inactive status. The board shall assess fees for inactive status and for return to active status when errors and omissions insurance has been obtained.
Individuals whose licenses are on inactive status are not required to carry errors and omissions insurance.
The board is authorized to adopt such rules and regulations as it deems appropriate to implement the requirements of this section.
SECTION 8. To obtain a renewal of a property data collector license issued under this chapter, the holder of a current, valid license shall complete an application and pay the prescribed fee to the board not earlier than one hundred twenty (120) days, nor later than the expiration date, as defined in Section 73-34-25, of the license then held. Each application for renewal shall be accompanied by evidence, in the form prescribed by the board, of having completed the continuing education requirements for renewal specified in this chapter.
If a licensed property data collector under this chapter fails to renew his or her license before its expiration or within any period of extension granted under this chapter, such individual may obtain a renewal of his or her license or registration by satisfying all of the requirements for renewal and filing an application for renewal, accompanied by a late renewal fee, within sixty (60) days of the date that the license or registration expired.
All applicants for a property data collector license renewal shall undergo a fingerprint-based criminal history records check of the Mississippi central criminal database and the Federal Bureau of Investigation criminal history database pursuant to the provisions of this act.
SECTION 9. (1) As a prerequisite to renewal of license, an active status licensed property data collector shall present evidence satisfactory to the board that such appraiser has met the continuing education requirements of this section. The basic continuing education requirement for renewal of a license shall be completed by the applicant, during the immediately preceding term of licensure, of not less than twenty-eight (28) class hours of instruction in courses or seminars which have received the approval of the board. Inactive status licensees are not required to meet the continuing education requirements specified in this section; however, such inactive licensees, before activating their license to active status, shall cumulatively meet the requirements missed during the period their license was inactive.
(2) In lieu of meeting the requirements set forth in subsection (1) of this section, an applicant for renewal may satisfy all or part of the requirements by presenting evidence of the following:
(a) Completion of an educational program of study determined by the board to be equivalent, for continuing education purposes, to courses or seminars approved by the board; or
(b) Participation, other than as a student, in educational processes and programs approved by the board which relate to property data collection.
(3) The board shall develop regulations for the implementation of the provisions of this section to ensure that an individual who renews his or her license as a licensed property data collector under this chapter has a working knowledge of current property data collector practices and techniques that will enable him or her to provide competent property data collection services to the members of the public with whom he or she deals in a professional relationship under the authority of his or her licensure. The regulations developed by the board shall prescribe the following:
(a) Policies and procedures to be followed in obtaining board approval of courses of instruction and seminars;
(b) Standards, policies and procedures to be used by the board in evaluating an applicant's claims of equivalency; and
(c) Standards, monitoring methods, and systems for recording attendance to be employed by course and seminar sponsors as a prerequisite to board approval of courses and seminars for credit.
In developing and proposing regulations under this section, the board shall give consideration to courses of instruction, seminars and other property data collection education programs developed by or under the authority of organizations or associations of professional property data collectors which are utilized by such organizations or associations for the purpose of awarding property data collector designations or indicating compliance with the continuing education requirements of such organizations or associations.
(4) No amendment or repeal of a regulation adopted by the board pursuant to this section shall operate to deprive a licensed property data collector of credit toward renewal of such property data collector's license for any course of instruction or seminar that had been completed by such individual prior to the amendment or repeal of the regulation.
SECTION 10. (1) An application for licensure or renewal may be denied, and the rights of any licensed property data collector may be revoked or suspended, or the holder of the license may be otherwise disciplined, in accordance with the provisions of this chapter for any of the following acts or omissions:
(a) Failing to meet the minimum qualifications for licensure established under this chapter;
(b) Procuring or attempting to procure licensure under this chapter by knowingly making a false statement, submitting false information or making a material misrepresentation in an application filed with the board or procuring or attempting to procure licensure through any form of fraud or misrepresentation;
(c) Paying money other than the fees provided for by this chapter to any member or employee of the board to procure licensure under this chapter;
(d) An act or omission in the practice of property data collection which constitutes dishonesty, fraud or misrepresentation with the intent to substantially benefit the licensee or another person or with the intent to substantially injure another person;
(e) Entry of a final civil or criminal judgment against a licensee on grounds of fraud, misrepresentation or deceit;
(f) Conviction, including a conviction based upon a plea or finding of guilty, of a crime which is substantially related to the qualifications, functions or duties of a person collecting property data and communicating property data to others;
(g) Engaging in the business of property data collection under an assumed or fictitious name not properly registered in this state;
(h) Paying a finder's fee or a referral fee;
(i) Making a false or misleading statement in that portion of a written property data collection report that deals with professional qualifications or in any testimony concerning professional qualifications;
(j) Issuing a report of property data on any real property in which the property data collector has an interest through fee simple ownership, leasehold, rental agreement or auction agreement;
(k) Taking a listing for the sale of a property within ninety (90) days of collecting data on such property, except as may be otherwise agreed upon by all parties and disclosed in the listing agreement; or
(l) Any act or conduct, whether the same or of a different character than specified above, which constitutes or demonstrates bad faith, incompetency or untrustworthiness; or dishonest, fraudulent or improper dealing; or any other violation of the provisions of this chapter and of rules and regulations established by the board.
(2) In addition to the reasons specified in subsection (1) of this section, the board shall be authorized to suspend the license of any licensee for being out of compliance with an order for support, as defined in Section 93-11-153. The procedure for suspension of a license for being out of compliance with an order for support, and the procedure for the reissuance or reinstatement of a license suspended for that purpose, and the payment of any fees for the reissuance or reinstatement of a license suspended for that purpose, shall be governed by Section 93-11-157 or 93-11-163, as the case may be. If there is any conflict between any provision of Section 93-11-157 or 93-11-163 and any provision of this chapter, the provisions of Section 93-11-157 or 93-11-163, as the case may be, shall control.
SECTION 11. Each property data collector who is licensed under this chapter must comply with generally accepted standards of professional property data collection practices and generally accepted ethical rules to be observed by a property data collector.
SECTION 12. (1) A licensed property data collector shall retain for a period of five (5) years the original or a true copy of: (a) each property data collection report prepared or signed by such property data collector; and (b) all supporting data assembled and formulated by the property data collector in preparing each such property data collection report.
(2) The five-year period for retention of records is applicable to each engagement of the services of the property data collector and shall commence upon the date of the delivery of each property data collection report to the client unless, within such five-year period, the property data collector is notified that the property data collection report is involved in litigation, in which event a minimum of a two-year period for the retention of records shall commence upon the date of the final disposition of such litigation.
(3) Upon reasonable notice, a licensed property data collector shall make all records required to be maintained under the provisions of this chapter available for inspection and copying by the board or its designated agent.
SECTION 13. Section 73-34-3, Mississippi Code of 1972, is amended as follows:
73-34-3. As used in this chapter, the following terms and phrases shall have the following meanings unless the context clearly indicates otherwise:
(a) "Appraisal" means an analysis, opinion or conclusion prepared by a real estate appraiser relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate or identified real property performed in accordance with the Uniform Standards for Professional Appraisal Practice. An appraisal may be classified by the nature of the assignment into either a valuation assignment or an evaluation assignment. The term "valuation assignment" means an analysis, opinion or conclusion prepared by a real estate appraiser that estimates the value of an identified parcel of real estate or identified real property at a particular point in time. The term "evaluation assignment" means an analysis, opinion or conclusion prepared by a real estate appraiser that relates to the nature, quality or utility of identified real estate or identified real property.
(b) "Appraisal report" means any communication, written or oral, of an appraisal. For the purposes of this chapter, the testimony of an appraiser dealing with the appraiser's analyses, conclusions or opinions concerning identified real property is deemed to be an oral appraisal report.
(c) "Board" means the Mississippi Real Estate Appraisal Board that is established under the provisions of this chapter.
(d) "Certified appraisal report" means an appraisal report given or signed and certified as such by a state certified real estate appraiser. When a state certified real estate appraiser identifies an appraisal report as "certified," such state certified real estate appraiser must indicate which type of certification he or she holds. The certification of an appraisal report by a state certified real estate appraiser represents to the public that it meets the appraisal standards established under this chapter.
(e) "Licensed real estate appraiser" means a person who holds a current, valid appraisal license issued to him or her under the provisions of this chapter.
(f) "Real estate or real property" means an identified parcel or tract of land, with improvements, and includes easements, rights-of-way, undivided or future interest, or similar rights in a tract of land, but does not include mineral rights, timber rights, growing crops, water rights, or similar interests severable from the land when the transaction does not involve the associated parcel or tract of land.
(g) "Real estate appraisal activity" means the act or process of making an appraisal of real estate or real property and preparing an appraisal report. "Real estate appraisal activity" includes property data collection and any other services provided by property data collectors.
(h) "Real estate appraiser" means a person who engages in real estate appraisal activity for a fee or other valuable consideration.
(i) "Real property" means one or more defined interests, benefits or rights inherent in the ownership of real estate.
(j) "State certified real estate appraiser" means a person who holds a current, valid license as a real estate appraiser issued to him or her under the provisions of this chapter for certified real estate appraisers.
(k) "Appraisal management company" or "AMC" means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen (15) certified or licensed appraisers in this state or twenty-five (25) or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets to:
(i) Recruit, select, and retain appraisers;
(ii) Contract with licensed and certified appraisers to perform appraisal assignments;
(iii) Manage the process of having an appraisal performed, including providing administrative duties such as receiving appraisal orders and appraisal reports, submitting completed appraisal reports to creditors and underwriters, collecting fees from creditors and underwriters for services
provided, and reimbursing appraisers for services performed; or
(iv) Review and verify the work of appraisers.
(l) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, except that a quality control examination of an appraisal shall not be an appraisal review.
(m) "Appraiser" means an individual who holds a license or certification as an appraiser and is expected to perform valuation services competently and in a manner that is independent, impartial and objective.
(n) "Appraiser panel" means a network, list or roster of licensed or certified appraisers approved by an AMC to perform appraisals as independent contractors for the AMC.
(o) "Controlling person" means:
(i) An officer or director, or owner of greater than a ten percent (10%) interest, of a corporation, partnership or other business entity, seeking to act as an appraisal management company in this state;
(ii) An individual employed, appointed, or authorized by an appraisal management company that has the authority to enter into a contractual relationship with other persons for the performance of services requiring registration as an appraisal management company and has the authority to enter
into agreements with appraisers for the performance of appraisals; or
(iii) An individual who possesses, directly or indirectly, the power to direct or cause the direction of
the management or policies of an appraisal management company.
(p) "Federal financial institutions regulatory agencies" means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration.
(q) "Federally related transaction" means any real estate-related financial transaction which a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates, and which requires the services of an appraiser.
(r) "Person" means an individual, firm, partnership, limited partnership, limited liability company, association, corporation, or other group engaged in joint-business activities, however organized.
(s) "Quality control examination" means an examination of an appraisal report for compliance and completeness, including grammatical, mathematical, typographical or other similar errors.
(t) "Real estate-related financial transaction" means any transaction involving:
(i) The sale, lease, purchase, auction, investment in or exchange of real property, including interests in
property, or the financing thereof;
(ii) The refinancing of real property or interests in real property; and
(iii) The use of real property or interests in property as security for a loan or investment, including
mortgage-backed securities.
(u) "Uniform Standards of Professional Appraisal Practice" means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.
(v) "USPAP" means the Uniform Standards of Professional Appraisal Practice.
(w) "Appraisal Foundation" means the Appraisal Foundation, as defined by 12 USC Section 3350, or its successor.
(x) "Appraisal Standards Board" means the Appraisal Standards Board of the Appraisal Foundation, or its successor.
(y) "Appraisal Subcommittee" means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, or its successor.
(z) "Appraiser Qualifications Board" means the Appraiser Qualifications Board of the Appraisal Foundation, or its successor.
(aa) "Supervisory appraiser" means a supervisory appraiser as defined by the Appraiser Qualifications Board.
(bb) "Trainee appraiser" means a trainee appraiser as defined by the Appraiser Qualifications Board.
(cc) "Property data collector" means any third-party individual or company, who is not a licensed appraiser, who collects, either physically, virtually, or digitally, any information on real property, and produces such information to a licensed real estate appraiser who uses it in the course of forming an opinion of value for an identified parcel of real estate or identified real estate property at a particular point in time.
SECTION 14. Section 73-34-5, Mississippi Code of 1972, is amended as follows:
73-34-5. (1) Except as otherwise provided for in this section, it shall be unlawful for anyone to engage in real estate appraisal activity in this state without first obtaining one (1) of the three (3) real estate appraiser licenses as provided in this chapter, or a property data collector license.
(a) Any person who is engaged in real estate appraisal activity on July 1, 1990, shall continue through June 30, 1991, to be subject to the provisions of the Real Estate Brokers License Law of 1954, but, thereafter, all real estate appraisal activity shall be governed by and licensed pursuant to the provisions of this chapter. However, if the United States Congress or the Appraisal Subcommittee of the Federal Financial Institutions Examination Council extends the effective date for the use of certified or licensed appraisers in federally related transactions, then the above date of June 30, 1991, shall be extended to the date immediately preceding such extended effective date. In addition, if such Appraisal Subcommittee waives any requirement relating to certification or licensing of persons to perform appraisals in Mississippi, then such waiver shall also be effective in Mississippi under the Real Estate Appraiser Licensing and Certification Act and such requirement shall be waived by the Real Estate Appraisal Board until the waiver is terminated by the Appraisal Subcommittee. The Mississippi Real Estate Appraisal Board shall waive or modify statutory minimum requirements for hours of courses of study and provide by regulation for applicants who desire to do so to challenge the examinations, or one or some of them, by taking an examination on such courses without actually taking such courses, if such waivers or modifications are allowed or allowable under law or regulations adopted and promulgated by the United States Congress or the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
(b) The provisions of this chapter shall not apply to any director, officer or salaried employee of commercial banks, savings banks, credit unions, and savings and loan associations, when engaged in appraisal or evaluation activities for and on behalf of such financial institution unless there is a fee charged for the appraisal or evaluation; provided that a federal statute, rule or regulation does not require such appraisal or evaluation activities to be performed by a state licensed appraiser.
(c) This section shall
not be construed to apply to individuals who do not render significant professional
assistance in arriving at a real estate appraisal analysis, opinion or conclusion.
Examples of the type of assistance which are not considered "significant professional
assistance" under this section include the following: (i) * * * assistance in the physical preparation of the appraisal report
(such as taking photographs, preparing charts, maps or graphs, or typing or printing
the report); and (ii) * * *assistance in the physical preparation of the appraisal report (such as taking
photographs, preparing charts, maps or graphs, or typing or printing the report);
any other assistance that does not directly involve the exercise of judgment
in arriving at the analysis, opinions or conclusions concerning real estate or real
property set forth in the appraisal report. * * *
(2) The provisions of this chapter shall not apply to:
(a) Any state, county, or municipal public officers or their salaried employees while performing their duties as such;
(b) The employees of private firms engaged pursuant to Section 27-35-165(2)(a) who perform work under the direction of the county tax assessor; or
(c) Private consultants hired pursuant to Section 27-35-165(2)(b) and all personnel employed or otherwise engaged by private consultants to appraise property who perform work under the direction of the county tax assessor.
(3) No license shall be issued under the provisions of this chapter to a corporation, partnership, firm or group.
(4) The provisions of this chapter shall not apply to individuals performing timber cruises, valuation on timberland real estate appraisals for nonfederally related transactions.
(5) The provisions of this chapter shall not apply to real estate licensees who are on active status and who perform a broker price opinion pursuant to Section 73-35-4.
SECTION 15. Section 73-34-9, Mississippi Code of 1972, is amended as follows:
73-34-9. (1) The board shall have the following powers and duties:
(a) To receive applications for licensure as a real estate appraiser and as a property data collector, and applications for registration as an appraisal management company under this chapter; to establish appropriate administrative procedures for the processing of those applications; to approve or disapprove applications for licensing or registration under this chapter; to issue licenses to qualified applicants under the provisions of this chapter; and to maintain a registry of the names and addresses of individuals who are currently licensed under this chapter.
(b) To administer licensing examinations in the places and at the times as may be required to carry out its responsibilities under this chapter.
(c) To collect all licensing fees required or permitted by this chapter.
(d) To take appropriate
action upon a decision and the related findings of fact made by the board if, after
an administrative hearing, the board (i) determines that a licensed appraiser * * *, licensed state certified real estate
appraiser, or a licensed property data collector under this chapter has violated
the standards of appraisal practice or ethical rules established under Section 73-34-37,
or has committed one or more of the acts that are prohibited by Section 73-34-35,
and (ii) recommends that the license of the appraiser or the property data collector
be suspended or revoked, that renewal be denied, or that some other disciplinary
action be taken.
(e) To solicit bids and enter into contracts.
(f) To promote research and conduct studies relating to the profession of real estate appraising or property data collection, and sponsor real estate appraisal and property data collection educational activities.
(g) To adopt rules and regulations for the administration of this chapter that are not inconsistent with the provisions of this chapter or the Constitution and laws of Mississippi or of the United States.
(h) To employ an administrator or director who shall keep a record of all proceedings, transactions, communications and official acts of the board and perform any other duties as the board may require.
(i) To employ an appropriate
staff to investigate allegations that licensed appraisers * * *, licensed state certified real estate
appraisers, or licensed property data collectors under this chapter failed
to comply with the terms or provisions of this chapter.
(j) To employ any other professional, clerical and technical assistance as may be necessary to properly administer the work of this chapter.
(k) To be responsible for matters relating to real estate appraisal standards, property data collection standards, real estate appraiser qualifications, property data collector qualifications, testing standards and appraisal management companies and enforce the same through its disciplinary functions.
(l) To hold meetings; to
hold public hearings and administrative hearings; and to prepare examination specifications
for licensed appraisers * * *and, licensed state certified appraisers, and licensed
property data collectors.
(m) To enable the board to carry out its responsibilities under this chapter with respect to licensing and registering, the board shall have:
(i) The power to compel the attendance of witnesses;
(ii) The power to require a licensed appraiser, licensed property data collector, or an applicant for licensure to produce books, appraisal documents, records and other papers;
(iii) The power to administer oaths; and
(iv) The power to take testimony and receive evidence concerning all matters within its jurisdiction.
These powers may be exercised directly by the board in such manner as the board shall determine.
(n) To establish appropriate administrative procedures for disciplinary proceedings conducted under the provisions of this chapter.
(o) To keep a record of its proceedings and issue an annual report of its activities.
(p) To further define by rule or regulation, and with respect to each of the categories of licensed appraiser or licensed property data collector, the type of educational experience, appraisal experience and equivalent experience that will meet the statutory requirements of this chapter and of the Appraiser Qualifications Board.
(q) To approve or disapprove applications for licensing or registration under this chapter.
(r) To suspend or revoke licenses or registrations under the disciplinary proceedings provided for in this chapter.
(s) To present an annual budget to the Mississippi Legislature for approval.
(t) To implement all requirements directed by the Appraiser Qualifications Board, Appraisal Subcommittee of the Federal Financial Institutions Examination Council or their designated agent.
(u) To make rules and regulations providing for an inactive license or registration status and for the reactivation thereof.
(v) To make rules and regulations necessary to implement its powers and duties under this chapter.
(w) To do all other things necessary to carry out the provisions of this chapter.
(x) To adopt rules consistent with the provisions of this chapter which may be reasonably necessary to implement, administer, and enforce the provisions of this chapter.
(y) To provide for at least one (1) member of the board to represent the appraisal management company industry.
(z) To establish the standard for measuring residential properties up to four (4) family buildings as promulgated by the American National Standards Institute or as provided in the American Measurement Standard Manual. The board shall require appraisals required to use those standards to indicate on the appraisal or separately appended document which standard was used.
(aa) To conduct surveys as necessary.
(2) The members of the board shall be immune from any civil action or criminal prosecution for initiating or assisting in any lawful investigation of the actions of, or participating in any disciplinary proceeding concerning, an appraiser or property data collector licensed under this chapter, provided that the action is taken without malicious intent and in the reasonable belief that the action was taken in accordance with the powers and duties vested in the members of the board under this chapter.
SECTION 16. Section 73-34-43, Mississippi Code of 1972, is amended as follows:
73-34-43. If, at the conclusion of the hearing, the board determines that a licensed appraiser, licensed certified real estate appraiser, licensed property data collector or appraisal management company is guilty of a violation of any of the provisions of this chapter, it shall prepare a formal decision that shall contain findings of fact concerning the appropriate disciplinary action to be taken.
The decision and order of the board shall be final. Any applicant, licensee, registrant or person aggrieved by a decision or order of the board shall have the right of appeal from such adverse order or decision of the board to the circuit court of the county of residence of the applicant, licensee, registrant or person, or of the First Judicial District of Hinds County, within thirty (30) days from the service of notice of the action of the board upon the parties in interest. Notice of appeals shall be filed in the office of the clerk of the court who shall issue an order directed to the board commanding it, within ten (10) days after service thereof, to certify to the court its entire record in the matter in which the appeal has been taken. The appeal shall thereupon be heard in due course by the court, without a jury, which shall review the record and make its determination of the cause between the parties. To be effective, an application for review made by an aggrieved party must be filed within thirty (30) days after the party's receipt of the final decision and order of the board.
If an application is filed for review of a final decision and order of the board, the case shall be set for trial within sixty (60) days from the date of the filing of an answer for the board. If the court finds that the board has regularly pursued its authority and has not acted arbitrarily, it shall affirm the decision and order of the board.
Actions taken by the board in suspending a license when required by Section 93-11-157 or 93-11-163 are not actions from which an appeal may be taken under this section. Any appeal of a license suspension that is required by Section 93-11-157 or 93-11-163 shall be taken in accordance with the appeal procedure specified in Section 93-11-157 or 93-11-163, as the case may be, rather than the procedure specified in this section.
SECTION 17. Section 73-34-47, Mississippi Code of 1972, is amended as follows:
73-34-47. The board shall issue
to each licensed appraiser * * *, licensed certified real estate appraiser
or licensed property data collector under this chapter a license evidencing
such licensure. The board shall also issue a pocket card in such size and form
as the board approves.
A license issued under this chapter
shall bear a license number assigned by the board. When signing an appraisal report * * *, certified appraisal report, or property
data collection report, the licensee shall place * * * his or her license number
adjacent to or immediately below the title of "licensed appraiser" * * *, "licensed certified residential
real estate appraiser" * * *, "licensed certified general real
estate appraiser" * * *, "licensed timberland appraiser", or "licensed
property data collector". Such license number shall also be used in all
statements of qualification, contracts or other instruments used by the license
holder when reference is made to such license holder's status as a licensed appraiser * * *, licensed certified real estate appraiser,
or licensed property data collector.
The license must bear the current physical address of the licensee's place of business, which shall be a room either in his or her home or an office elsewhere, to be used for the transaction of the appraisal or property data collection business. In case of removal from the designated address, the licensee shall make application to the board before removal, or within ten (10) days after removal, designating the new location of such office, whereupon the board shall forthwith issue a new license for the new location.
Licenses and pocket cards shall remain the property of the state; and, upon any suspension or revocation of a license pursuant to this chapter, the individual holding the related license and pocket card shall immediately return such license and pocket card to the board.
The board shall maintain and keep open for public inspection during office hours a complete and properly indexed record of all applications for licensure received and licenses issued, renewed, revoked, cancelled or suspended under the provisions of this chapter. A copy of any such record, except pending investigation files, shall be made available to the public, upon application to the board, at such reasonable price per copy as may be fixed by the board.
SECTION 18. Section 73-34-49, Mississippi Code of 1972, is amended as follows:
73-34-49. The board shall prepare and issue at least once each calendar year a roster showing the name and place of business of each real estate appraiser and property data collector currently licensed and appraisal management company registered under the provisions of this chapter. A copy of the roster shall be made available to the public, upon application to the board, at a reasonable price per copy as may be fixed by the board. The board shall send a copy of this list to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council, or its designated agent.
SECTION 19. Section 73-34-51, Mississippi Code of 1972, is amended as follows:
73-34-51. (1) Each applicant for licensure under this chapter who is not a resident of this state shall submit, with his or her application, an irrevocable consent that legal action arising out of his or her activities as a real estate appraiser or property data collector in this state may be commenced against him or her in the proper court of any county of this state in which a cause of action may arise or in which the plaintiff may reside by service of process or pleading authorized by laws of this state, by the Secretary of State, or by the administrator or director of the board. The consent shall stipulate that the service of process or pleading shall be taken in all courts to be valid and binding as if personal service had been made upon the nonresident licensee in this state. The consent shall be duly acknowledged. Every nonresident licensee shall consent to have any hearings conducted by the board pursuant to Section 73-34-35 at a place designated by the board.
(2) Any service of process or pleading shall be served on the Mississippi Real Estate Appraisal Board by filing duplicate copies, one (1) of which shall be filed in the office of the board and the other forwarded by certified mail to the last-known principal address of the nonresident licensee against whom the process or pleading is directed.
(3) If, in the determination of the board, another state or territory or the District of Columbia is deemed to have substantially equivalent licensure laws for real estate appraisers or property data collectors, an applicant for licensure in this state who is licensed under the law of such other state, territory or district may obtain a license as a real estate appraiser or property data collector in this state upon such terms and conditions as may be determined by the board provided that disciplinary proceedings are not pending against such applicant in his state of licensure. The issuance of a license by reciprocity to a military-trained applicant, military spouse or person who establishes residence in this state shall be subject to the provisions of Section 73-50-1 or 73-50-2, as applicable.
SECTION 20. Section 73-34-55, Mississippi Code of 1972, is amended as follows:
73-34-55. No person shall bring or maintain an action in any court of this state for the recovery of a commission, fee or compensation for any act done or services rendered, the doing or rendering of which is prohibited under the provisions of this chapter for persons other than licensed real estate appraisers or licensed property data collectors, unless such person was duly licensed as a real estate appraiser or property data collector at the time of the doing of such act or the rendering of such service.
SECTION 21. This act shall take effect and be in force from and after July 1, 2024.