TITLE 876 INDIANA REAL ESTATE COMMISSION
Final Rule
LSA Document #07-881(F)
DIGEST
Amends
876 IAC 3-5-1 concerning continuing education requirements. Effective 30 days after filing with the Publisher.
876 IAC 3-5-1 Continuing education requirements
Authority:
IC 25-34.1-3-8
Sec. 1. (a) As a prerequisite to renewal of a real estate appraiser license or certification, excluding a trainee license during the first five (5) years of licensure, the licensee or certificate holder shall satisfactorily complete twenty-eight (28) classroom hours of continuing education within that two (2) year renewal period from
a real estate appraiser continuing education
course provider courses approved
by the Appraiser Qualifications Board as provided for in IC 25-1-4-0.5(1)(B) or by the board
under this rule. Notwithstanding the normal twenty-eight (28) hour requirement for two (2) year renewal periods, for the renewal of licenses or certificates that expire on June 30, 2008, the licensee or certificate holder must satisfactorily complete thirty-five (35) classroom hours of continuing education courses approved by the Appraiser Qualifications Board as provided for in IC 25-1-4-0.5(1)(B) or by the board under this rule. However, a licensee or certificate holder initially licensed
during the first year of a two (2) year renewal period shall be required to complete only fourteen (14) classroom hours of continuing education, and a licensee or certificate holder initially licensed during the second year within the last one hundred eighty-five (185) days of a two (2) year renewal period shall not
be required to obtain any hours of continuing education.
For licenses or certificates that expire on June 30, 2008, the one hundred eighty-five (185) day period shall be one hundred eighty-five (185) days before June 30, 2008.
(b) After holding a
trainee's licensed trainee appraiser license for a five (5) year period, a trainee is required to satisfactorily complete the continuing education requirement in each following renewal cycle:
(1) If the five (5) year period ends in the first year of a two (2) year renewal cycle, the trainee will be required to complete fourteen (14) hours of continuing education for the remainder of that renewal period.
(2) If the five (5) year period ends in the second year of two (2) year renewal cycle, the trainee shall not be required to obtain any hours of continuing education for that renewal cycle.
(3) For licensed trainee appraiser licenses that expire on June 30, 2008, the first year under subdivision (1) shall be considered to have ended on December 31, 2006, and the second year under subdivision (2) shall be considered to have started on January 1, 2007, and ended on June 30, 2008.
(c) The following criteria
applies apply to determine the number of hours:
(1) A classroom hour of instruction is defined as fifty (50) minutes of each sixty (60) minute hour segment.
(2) Credit toward the classroom hour requirement may be granted only where the length of the educational offering is at least two (2) hours.
(3) No more than eight (8) hours of continuing education may be acquired during any one (1) day.
(4) Credit for the classroom hour requirement may be obtained from approved providers, which may include organizations of the following types:
(A) Colleges or universities.
(B) Community or junior colleges.
(C) Real estate appraisal or real estate related organizations.
(D) State or federal agencies or commissions.
(E) Proprietary schools.
(F) Other providers approved by the board.
(G) Providers approved by the Appraiser Qualification Board of the Appraisal Foundation.
(5) Credit may be granted for education offerings which cover real estate appraisal and related topics which are consistent with the following continuing education requirements:
(A) Ad valorem taxation.
(B) Arbitrations.
(C) Business courses related to real estate appraisal.
(D) Construction estimating.
(E) Ethics and standards of professional practice.
(F) Land use planning, zoning, and taxation.
(G) Litigation.
(H) Management, leasing, brokerage, and timesharing.
(I) Property development.
(J) Real estate appraisal (valuations or evaluations).
(K) The Uniform Standards of Professional Appraisal Practice.
(L) Real estate financing and investment.
(M) Real estate law.
(N) Real estate litigation.
(O) Real estate appraisal-related computer applications.
(P) Real estate securities and syndication.
(Q) Real property exchange.
(d) Notwithstanding subsection (a),
up to fifty percent (50%) of continuing education credit may be granted for participation, other than as a student in appraisal educational programs, as follows:
(1) Teaching.
(2) Program development.
(3) Authorship of textbooks.
(e) A licensee is not entitled to continuing education credit for any classroom hours
which that were used for required prelicensure education under
876 IAC 3-3.
(f) The continuing education requirement is to ensure that appraisers participate in educational programs that maintain and increase their skill, knowledge, and competency in real estate appraising.
(g) The board may verify any information concerning continuing education that is submitted by the licensee or certificate holder as evidence supporting the course information. The board may require licensees or certificate holders to provide information regarding the continuing education hours claimed on the individual's renewal. Failure to do so may lead to
disciplinary action
as provided for in IC 25-1-11. under IC 25-1-4-5 or IC 25-1-4-6.
(h) It is the responsibility of each licensee or certificate holder to retain evidence to support the courses taken for a period of
twenty-four (24) months three (3) years after the end of the renewal period for which the renewal application is submitted to the board. These records shall include one (1) or more of the following:
(1) Course attendance verification by the sponsor.
(2) Certificates of course completion.
(3) Continuing education attendance history by employer or third party.
(4) Other evidence of support and justification.
Hearing Held: March 26, 2008
Approved by Attorney General: April 29, 2008
Approved by Governor: May 5, 2008
Filed with Publisher: May 5, 2008, 11:08 a.m.
Documents Incorporated by Reference: None Received by Publisher
Small Business Regulatory Coordinator: Nicholas Rhoad, Indiana Professional Licensing Agency, Indiana Government Center South, 402 West Washington Street, Room W072, Indianapolis, Indiana 46204, (317) 234-3046, nrhoad@pla.in.gov
Posted: 06/04/2008 by Legislative Services Agency
DIN: 20080604-IR-876070881FRA
Composed: Apr 19,2024 3:44:50AM EDT
A
PDF version of this document.
