HB1831 Summary

• Amends the Oklahoma Certified Real Estate Appraisers Act to expand scope of coverage to include appraisal reviews and appraisers performing non-federally-related transactions.

• Makes the Insurance Commissioner the ex-officio Chairperson of the Real Estate Appraiser Board with specific duties and additional compensation of $12,000 annually.

• Modifies examination and certification requirements to accept completion of Appraiser Qualifications Board examinations in lieu of separate state exams.

• Updates definitions to include "appraisal review," "appraisal review report," and "grievance" (replacing "complaint"); expands board disciplinary powers to include course providers and instructors.

• Establishes federal registry fees as variable amounts set by Appraisal Subcommittee; modifies continuing education, experience requirements, and penalty provisions; sets effective date as November 1, 2011.