34-27A-2
Section 34-27A-2 Definitions. The following terms as used in this article shall have the following
meanings: (1) APPRAISAL. The act or process of developing an opinion of value of real property;
an opinion of the value of real property; of or pertaining to appraising real property and
related functions such as appraisal practice or appraisal services. (2) APPRAISAL FOUNDATION.
The Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November
30, 1987. (3) APPRAISAL MANAGEMENT COMPANY. An external third party including, but not limited
to, a corporation, partnership, sole proprietorship, subsidiary, or limited liability company,
authorized either by a creditor of a consumer credit transaction secured by the principal
dwelling of a consumer or by an underwriter of or other principal in the secondary mortgage
markets, that oversees a network or panel of more than four certified or licensed appraisers
in a state or 25 or more nationally in a given year, that...
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34-27A-4
Section 34-27A-4 Board created; composition; meetings; compensation. There is established the
Alabama Real Estate Appraisers Board. The board shall consist of nine members, one of whom
shall be a qualified individual from the general public, seven of whom shall be real property
appraisers, and, beginning on October 1, 2011, one of whom shall be a representative of an
appraisal management company. Each member of the board, except for the representative of the
appraisal management company, shall be a citizen of this state and no less than two of the
nine board members shall be of a minority race. The overall membership of the board shall
be inclusive and reflect the racial, gender, geographic, urban/rural, and economic diversity
of the state. The Governor shall appoint the members of the Real Estate Appraisers Board.
One appraiser member shall be appointed from each United States Congressional District in
this state. The term of each board member shall be three years; except that, of the...
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34-27A-52
Section 34-27A-52 Limitations on ownership and employment. (a) An appraisal management company
applying for registration in this state may not be owned, in whole or in part, directly or
indirectly, by any person who has had an appraiser license or certificate refused, denied,
cancelled, surrendered in lieu of revocation, or revoked in any state. For the purposes of
this subsection, indirect ownership does not include stock ownership in a publicly traded
corporation. Additionally, each person who owns more than 10 percent of an appraisal management
company shall, if required by the board, submit to a background investigation. (b) An appraisal
management company applying for registration in this state may not employ for the purposes
of appraisal review, analysis, or performance evaluation any person who has ever had a registration,
license, or certificate to act as an appraiser in this or any other state refused, denied,
canceled, or revoked unless a registration, license, or certificate...
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34-27A-11.1
Section 34-27A-11.1 Reclassification of licensed real estate appraisers as registered real
property appraisers. Existing appraisers who are licensed as licensed real estate appraisers
(ALs) may reclassify into the registered real property appraiser classification by submitting
a log of 1,000 hours. The board may select three reports for review for compliance with the
Uniform Standards of Professional Appraisal Practice (USPAP). (Acts 1995, No. 95-308, p. 560,
§2.)...
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34-27A-15
Section 34-27A-15 Renewal license - Time for application and payment of fee; evidence of continuing
education; extension; late renewal. (a)(1) To obtain a renewal license for any real estate
appraiser classification, the holder of a current, valid license shall make application and
pay the prescribed fee to the board between September 1 and September 30, and shall be delinquent
after September 30. With the application for renewal, the licensed real estate appraiser shall
present evidence in the form prescribed by the board of having completed the continuing education
requirements for renewal specified by the board. (2) If the board determines that an applicant
has failed to meet the requirements for renewal of a license through mistake, misunderstanding,
or circumstances beyond the control of the applicant, the board may extend the term of the
license for a period not to exceed six months, upon payment by the applicant of a prescribed
fee set by the board for the extension. (3) If the...
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34-27A-17
Section 34-27A-17 Signatures on license; display of license number. (a) A license issued under
this article shall bear the signature or facsimile signature of the executive director of
the board and a license number assigned by the board. (b) Each licensed real estate appraiser
shall place his or her license number adjacent to or immediately below the title of his or
her classification when used in an appraisal report or in a contract or other instrument used
by the license holder in conducting real property appraisal activities. (Acts 1990, No. 90-639,
p. 1175, §17; Acts 1994, No. 94-117, p. 128, §1.)...
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34-27A-14
Section 34-27A-14 Nonresidents; consent to service of process; eligibility for licensure; temporary
recognition. (a) Every applicant for licensure under this article, who is not a resident of
this state, shall submit with the application an irrevocable consent that service of process
to the executive director of the board as provided in Section 34-27A-7(d)(3), if, in an action
against the applicant in a court of this state arising out of the applicant's activities as
a licensed real state appraiser, the plaintiff cannot, in the exercise of due diligence, effect
personal services upon the applicant. (b) A nonresident of this state who has complied with
subsection (a) of this section may obtain a license as a licensed real estate appraiser by
conforming to all of the provisions of this article relating to the classification of real
estate appraiser for which the applicant is applying. (c) The board shall recognize on a temporary
basis the certification or license of an appraiser issued...
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34-27-32
Section 34-27-32 Requirements for license; application; place of business; branch offices;
multiple brokers; fees. (a) A license for a broker or a salesperson shall be registered to
a specific real estate office and shall be issued only to, and held only by, a person who
meets all of the following requirements: (1) Is trustworthy and competent to transact the
business of a broker or salesperson in a manner that safeguards the interest of the public.
(2) Is a person whose application for real estate licensure has not been rejected in any state
on any grounds other than failure to pass a written examination within the two years prior
to the application for real estate licensure with Alabama. If the applicant's rejection for
real estate licensure in any state is more than two years from the date of application for
licensure with Alabama, then the applicant may not be issued an Alabama real estate license
without the approval of the commissioners. (3) Is a person whose real estate license...
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40-7-65
Section 40-7-65 Employment of appraisal firms as consultants; firms or appraisers to be bona
fide state residents. The Department of Revenue may, with the approval of the Governor, employ
any appraisal firms employing a duly accredited member or members of the American Institute
of Real Estate Appraisers as consultants to inspect the various systems of assessing in each
county and to advise the Department of Revenue of the best procedures to be followed in the
several counties so as to expedite the statewide reappraisal as required by law; provided,
that any firms or appraisers hired by the state Department of Revenue or by local government
shall be bona fide residents of the State of Alabama and shall have resided in the state for
at least one year prior to January 19, 1972. (Acts 1971, 3rd Ex. Sess., No. 160, p. 4404,
§6.)...
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34-27-69
Section 34-27-69 Surety bond; suspension, etc., of license for violation of article; reinstatement;
relicensure; board must be notified of initiation, etc., of legal action. (a) Every applicant
for a license under this article, either original or renewal, shall furnish a surety bond
payable to the State of Alabama in the amount of $5,000 if a time-sharing salesman or $10,000
if a broker, with a surety company authorized to do business in Alabama, which bond shall
provide that the obligor therein will pay up to $5,000 or $10,000, respectively, the aggregate
sum of all judgments which may be recovered against such licensee for actual loss or damage
arising from his or her activities conducted under this article. Said bond shall be filed
with the Alabama Real Estate Commission prior to the issuance of such license. A new bond
or a renewal or continuation of the original bond shall be required for each licensing period.
If a continuous bond is filed with the commission prior to the...
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