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DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4CCR 725-2

EMERGENCY RULE

Chapter 9:  LICENSURE AND CERTIFICATION BY ENDORSEMENT

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of emergency 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.

Section 1.	Statement of Basis and Authority
Section 2. 	Scope and Purpose
Section 3.	Applicability
Section 4. 	Chapter 9 Licensure and certification by endorsement
Section 5. 	Effective Date

Section 1. 	Statement of Basis and Authority

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.  

Section 2.	Scope and Purpose

The Colorado Board of Real Estate Appraisers finds that immediate adoption of this emergency rule is imperatively necessary to comply with state law (§12-61-701, C.R.S., et seq.  the real estate appraiser practice act) and for the preservation of public health, safety or welfare and that compliance with the rulemaking requirements of § 24-4-103, C.R.S., applicable to non-emergency rules, would be contrary to the public interest.

As a result of the passage of SB14-117, the real estate appraiser practice act statutes have been renumbered.  Existing rules now contain inaccurate statute references, which may cause confusion within the industry and result in noncompliance with rules and regulations.  As a result, it is imperative that the Board of Real Estate Appraisers revise the existing rules to correctly identify the applicable statutes.  The changes in the law go into effect on July 1, 2014.  

The purpose of this emergency rule is to ensure compliance with Section 12-61-701, C.R.S., et. seq. The purpose of this emergency rule is also to effectuate the legislative directive to promulgate necessary and appropriate rules for the implementation of part 7 of Title 12, Article 61.

The specific purpose of the emergency rules is to amend the existing rules of the obsolete statute references.

Without the immediate adoption of the emergency rules, the public’s interest is not served.  Wherefore, the Board of Real Estate Appraisers, pursuant to § 24-4-103(6), C.R.S. has an obvious and stated need to adopt these emergency rules.
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Section 3.	Applicability

The emergency rules govern real estate appraisers who are subject to the requirements of Part 7 of Title 12, Article 61 of the Colorado Revised Statutes.

Section 4.	Chapter 9:	LICENSURE AND CERTIFICATION BY ENDORSEMENT

9.1	Pursuant to Section 12-61-711(1), C.R.S. (as amended), licensure by endorsement shall be subject to the following restrictions and requirements:
	A.	The Board may issue licenses or certifications by endorsement only to those persons holding an active license or certificate from another jurisdiction which is substantially equivalent to those described in Board Rules1.13, 1.14 or 1.15, with qualification requirements substantially equivalent to those in Board Rules 2.2, 2.3 or 2.4, respectively;
	B.	The applicant must be the holder of an active license or certificate in good standing under the laws of another jurisdiction;
	C.	The appraiser regulatory program of the jurisdiction where the applicant holds an active license or certificate in good standing must not have been disapproved by the appropriate authority under 12 U.S.C.A., Section 3347, FIRREA;
	D.	The applicant must apply for licensure by endorsement on a form provided by the Board, pay the specified fees and meet all other Board requirements, including the submission of a set of fingerprints to the Colorado Bureau of Investigation for the purpose of conducting a state and national fingerprint-based criminal history record check as required by Section 12-61-706(6), C.R.S. (as amended);
	E.	The applicant must apply for and be issued by the Board a license or certificate by endorsement prior to undertaking appraisal activities in Colorado that would require licensure in Colorado; and
	F.	A license or certificate issued by endorsement shall be subject to the same renewal requirements as a license or certificate issued pursuant to Section 12-61-706, C.R.S. (as amended), and Board Rules Chapters 7 and 8.

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Section 5.	Effective Date

This emergency rule is effective July 1, 2014.