MN SF2991

Creates a seven-member Real Estate Appraisal Advisory Board appointed by the commissioner, with membership including certified appraisers, real estate professionals, an appraisal management company representative, and a public member.

Board members must be Minnesota residents for the past five years and membership must reflect geographic distribution; members serve limited to two full terms and the board expires January 1, 2030.

Board shall meet at least quarterly, comply with open meetings law (chapter 13D), and advise the commissioner on licensing, discipline, continuing education, and industry trends for real estate appraisers.

Commissioner shall provide quarterly reports to the board listing denied continuing education courses and public disciplinary actions against appraisers.

Allows commissioner discretion to reinstate broker licenses for individuals licensed prior to 1990 whose licenses were revoked or suspended for failure to renew, provided they pay all past due renewal fees and demonstrate compliance with continuing education requirements.