Sec. 12 AAC 70.920 - Courtesy license

ยง 12 AAC 70.920. Courtesy license

(a) The board or the board's designee in the department will issue a courtesy license to a nonresident who is a certified or credentialed real estate appraiser in another state and who meets the requirements of this section.

(b) Repealed 12/13/94.

(c) A courtesy license is valid for one appraisal assignment, not to exceed 180 consecutive days. However, upon request the board will grant one 30-day extension. A person may be issued no more than two courtesy licenses in a 12-month period.

(d) An applicant for a courtesy license shall submit

(1) a completed application on the forms provided by the department;

(2) any fees required in 12 AAC 02.370;

(3) evidence of a certificate or an applicant's credentials as a real estate appraiser in good standing from another state; and

(4) an address for service of process.

(e) A courtesy license holder shall submit to the board a copy of the report prepared for the appraisal assignment for which the courtesy license was issued within 30 days of the completion of the assignment.

(f) The board's designee in the department shall issue a courtesy license within five days after receipt of the materials and fees required in (d) of this section unless those application materials indicate disciplinary action in another state.

(g) The board's designee in the department shall forward any courtesy license application and accompanying materials that indicate disciplinary action in another state to the board for its consideration to grant or deny the courtesy license.

(h) In compliance with 12 U.S.C. 331 - 3351 (Title XI, Financial Institutions Reform, Recovery and Enforcement Act of 1989), the board or the board's designee in the department will issue a courtesy license to a credentialed nonresident of this state for the purpose of providing appraisal services for federally-related transactions in this state.

(i) In this section "credentialed" means a licensed or certified appraiser in good standing in another state.

(Eff. 7/16/92, Register 123; am 12/13/94, Register 133; am 12/30/99, Register 152; am 2/13/2002, Register 161; am 4/16/2004, Register 170; am 9/14/2012, Register 203)

Amendments to 12 AAC 70.920 took effect on 12/13/94 as an emergency regulation and were published in Register 133, April 1995. Due to technical corrections made by the regulations attorney to the emergency language of 12 AAC 70.920, the permanent regulation as it was published in Register 134, July 1995 differed from the emergency regulation even though the section's history note did not reflect an amendment to this section.

Authority:AS 08.01.062

AS 08.87.020

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