[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]
DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4 CCR 725-2

NOTICE OF PROPOSED PERMANENT RULEMAKING HEARING
September 3, 2015

CHAPTER 12:  LICENSE TITLES, LICENSE DOCUMENTS, AND SIGNATURES

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Board of Real Estate Appraisers (the “Board”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Board.

STATEMENT OF BASIS

The statutory basis for the rules titled Rules of the Board of Real Estate Appraisers is Part 7 of Title 12, Article 61, Colorado Revised Statutes, as amended.  

STATEMENT OF PURPOSE

The purpose of this rule is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the statute and the provisions of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

SPECIFIC PURPOSE OF THIS RULEMAKING

The specific purpose of this rule is to revise the existing rule to include acceptable abbreviations to reference an ad valorem license.
 
Proposed New, Amended and Repealed Rules

[Deleted material shown struck through, new material shown ALL CAPS. Rules, or portions of rules, which are unaffected are reproduced.  Readers are advised to obtain a copy of the complete rules of the Board at www.dora.state.co.us/real-estate/rulemaking/BOREA/index.htm]

CHAPTER 12:  LICENSE TITLES, LICENSE DOCUMENTS, AND SIGNATURES

12.8   When complying with Rule 12.4, an appraiser shall use the full license or permit title in Rules 1.13, 1.14, 1.15, 1.18 and 1.37, or shall use the appropriate abbreviation as listed below, followed by the license or permit number.  Use of initials only, such as the alphabetical prefix included with each board issued permit number to identify the type of license or permit is prohibited except when necessary to comply with federally implanted data collection or reporting requirements (for example FNMA (“Fannie Mae”) or FHLMC (“Freddie Mac”) implemented policies or guidelines).
	
Licensed Ad Valorem Appraiser	Lic. Ad Val. App. or Lic. Ad Val. Appr.
	Licensed Appraiser:	  			Lic. App. or Lic. Appr.
	Certified Residential Appraiser:		Crt. Res. App. or Cert. Res. Appr.
	Certified General Appraiser:			Crt. Gen. App. or Cert. Gen. Appr.
	Temporary Practice Permit			Temp. Prac. Pmt.

[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]

A hearing on the above subject matter will be held on Thursday, September 3, 2015, at the Colorado Division of Real Estate, 1560 Broadway, Suite 1250C, Denver, Colorado 80202 beginning at 9:00 a.m. 

Any interested person may participate in the rule making through submission of written data, views and arguments to the Division of Real Estate.  Persons are requested to submit data, views and arguments to the Division of Real Estate in writing no less than ten (10) days prior to the hearing date and time set forth above. However, all data, views and arguments submitted prior to or at the rulemaking hearing or prior to the closure of the rulemaking record (if different from the date and time of hearing), shall be considered.

Please be advised that the rule being considered is subject to further changes and modifications after public comment and formal hearing.