IL SB1531

Changes the Real Estate Appraisal Administration and Disciplinary Board composition from 2 to 4 certified residential real estate appraisers among the 10 appointed members.

Modifies broker membership requirement from 10 years to 5 years of experience and specifies 2 of the 4 residential appraiser members must hold valid real estate broker or managing broker licenses.

Adds a 10-year cumulative service limit for board members, preventing reappointment if it would exceed 10 years of total service.

Restructures board member categories by consolidating previous separate provisions into paragraph (4) for residential appraisers with dual broker license requirements.

Removes a requirement that the Governor consider recommendations from the real estate industry when making broker appointments to the board.