Tenn. Comp. R. & Regs. 1255-06-.01 - RECIPROCAL AGREEMENTS

(1) If, in the determination of the Commission, a state or territory of the United States is deemed to have established meaningful requirements for the licensure and certification of real estate appraisers and is in compliance with the Appraisal Subcommittee, then the Commission shall grant reciprocal rights to real estate appraiser licensees and certificate holders who are in "good standing" in that state.

(a) For purposes of implementing the reciprocity policy, states with an Appraisal Subcommittee finding of "Poor" do not satisfy the "in compliance" provision for reciprocity.

(2) A licensee or certificate holder who resides in another state, is currently credentialed in another state, and is active on the National Registry in another state must show:

(a) That the licensee or certificate holder has successfully completed one (1) seven (7) hour National USPAP Update Course, or its Appraisal Qualification Board-approved equivalent, within the past two (2) calendar years; and

(b) That the licensee or certificate holder has met all continuing education requirements in the other state within the past two calendar years.

(3) A licensee or certificate holder who became licensed or certified through reciprocity and now resides in Tennessee must comply with the continuing education requirements of this rule regardless of how the license or certificate was obtained.

(4) If, in the determination of the Commission, the requirements in paragraphs (1) and (2) have been met, then upon receipt of a nonrefundable application fee of one hundred twenty-five dollars ($125.00), a license or certificate issuance fee of three hundred fifty dollars ($350.00) and a federal registry fee of eighty dollars ($80.00), the Commission shall grant to an applicant a reciprocal license or certificate to appraise real estate in the State of Tennessee.

(5) If a licensee or certificate holder's out-of-state real estate appraiser license or certificate has been revoked, suspended, denied renewal, or restricted, then the Commission may revoke, suspend, refuse to renew, or restrict the licensee's or certificate holder's State of Tennessee real estate appraiser license or certificate.

(6) An applicant for licensure or certification meeting the requirements of T.C.A. § 4-3-1304(d)(1) may be issued a reciprocal license pursuant to T.C.A. § 62-39-322 and Tenn. Comp. R. & Regs § 1255-01-.05, § 1255-01-.07, or § 1255-01-.08 upon compliance with all terms therein, including application and payment of all fees required for the issuance of such reciprocal license or certification.

(7) Notwithstanding paragraphs (1) and (2), no license or certification shall be issued pursuant to this Rule to any person:

(a) Whose current license or certification as a real estate appraiser is from a state that is not "in compliance" with Title XI (FIRREA) as determined by the Appraisal Subcommittee established thereunder; or

(b) Who does not hold a valid license or certification in "good standing".

Notes

Tenn. Comp. R. & Regs. 1255-06-.01

Original rule filed August 1, 1991; effective September 15, 1991. Amendment filed December 16, 1997; effective March 1, 1998. Amendment filed January 19, 2001; effective April 5, 2001. Amendment filed December 13, 2004; effective February 26, 2005. Emergency rule filed December 20, 2014; effective through June 28, 2015. The emergency rule expired on June 29, 2015 and reverted back to its previous status. Amendment filed July 20, 2015; effective 10/18/2015.

Authority: T.C.A. §§ 62-39-203, 62-39-204, 62-39-322, 62-39-326, and 62-39-333 as amended by Public Acts, Chapter 366.