HB 1107 Summary

• Amends North Dakota Century Code sections regulating real estate appraisers, including definitions, board composition, permit requirements, examination standards, and penalties for unlicensed practice.

• Modifies the North Dakota Real Estate Appraiser Qualifications and Ethics Board to consist of five members: one public representative, one financial industry representative, and three appraisers (at least one experienced in agricultural property valuation, with at least two being certified appraisers).

• Changes examination requirements to reference successful completion of the national examination as required by the Appraisal Foundation Appraisal Qualification Board criteria, rather than listing specific knowledge areas.

• Simplifies record retention requirements by referring to the recordkeeping rule specified in the Uniform Standards of Professional Appraisal Practice instead of detailed statutory provisions.

• Maintains penalties for practicing without a permit as a class A misdemeanor, with additional civil penalties ranging from one to three times the compensation received in violation of the chapter.