Stat. Auth.:ORS183.355, 674.305 & 674.310 Stats. Implemented:ORS674.305(7), 674.310(2), 674.205, 674.215, 674.230, 674.245 & 674.250 Hist.: Aclb 1-2012, F. 7-2-12, Cert. Ef. 7-3-12

Link to law: http://arcweb.sos.state.or.us/pages/rules/oars_100/oar_161/161_550.html
Published: 2015

The Oregon Administrative Rules contain OARs filed through November 15, 2015

 

QUESTIONS ABOUT THE CONTENT OR MEANING OF THIS AGENCY'S RULES?
CLICK HERE TO ACCESS RULES COORDINATOR CONTACT INFORMATION




APPRAISER CERTIFICATION AND LICENSURE BOARD




 


DIVISION 550
ANNUAL REPORTS
161-550-0010
Annual Reports
(1) An appraisal management
company shall annually submit to the Board on March 31 a report disclosing the following
information on a form prescribed by the Board;
(a) The number of independent
contractor appraisals in the preceding year for which the appraisal management company
performed appraisal management services in Oregon;
(b) For subject individuals,
any action taken by a state to refuse to issue, deny, cancel or revoke a license,
certificate or registration to act as an appraiser;
(c) For appraisal management
companies, any action taken by a state to refuse to issue, deny, cancel or revoke
a license, certificate or registration to act as an appraisal management company.
(2) A late fee, as established
in OAR 161-510-0010, will be charged for any annual report received by the Board
after March 31.
Stat. Auth.: ORS 183.355, ORS
674.305(7), ORS 674.310 & 2011 OL Ch. 447

Stats. Implemented: ORS 674.310
& 2011 OL Ch. 447

Hist.: ACLB 5-2011(Temp), f.
12-22-11, cert. ef. 1-1-12 thru 6-27-12; ACLB 1-2012, f. 7-2-12, cert. ef. 7-3-12
161-550-0020
Records and Real Estate
Appraisal Activity Report Retention Requirements
(1) An appraisal management
company shall maintain a detailed record of each service request that it receives,
the appraiser that perform the real estate appraisal activity and a complete copy
of all completed reports for each assignment. Records shall be maintained by the
appraisal management company for:
(a) Not less than five years
after the date of completion of the report to which the record pertains; or
(b) For a period of not less
than two years after final disposition of a judicial proceeding in which testimony
relating to the records are given, whichever period is longer.
(2) An appraisal management
company shall maintain the following for a period of not less than five years:
(a) Documentation of each written
complaint received by the appraisal management company, along with the name of the
client that requested the appraisal, and the date the complaint was forwarded to
the client.
(b) A copy of the written notification
to the person who submitted the complaint that the complaint was forwarded to the
client.
(c) Training materials and training
records for each employee specified in OAR 161-540-0010 and ORS 674.245.
Stat. Auth.: ORS 183.355, 674.305
& 674.310

Stats. Implemented: ORS 674.305(7),
674.310(2), 674.205, 674.215, 674.230, 674.245 & 674.250

Hist.: ACLB 1-2012, f. 7-2-12,
cert. ef. 7-3-12

The official copy of an Oregon Administrative Rule is
contained in the Administrative Order filed at the Archives Division,
800 Summer St. NE, Salem, Oregon 97310. Any discrepancies with the
published version are satisfied in favor of the Administrative Order.
The Oregon Administrative Rules and the Oregon Bulletin are
copyrighted by the Oregon Secretary of State. Terms
and Conditions of Use
Read Entire Law on arcweb.sos.state.or.us