ENROLLED
       2015 Legislature                            CS for CS for SB 608
       
       
       
       
       
       
                                                              2015608er
    1  
    2         An act relating to real estate brokers and appraisers;
    3         amending s. 475.15, F.S.; requiring the Florida Real
    4         Estate Commission to adopt certain rules pertaining to
    5         broker registration on a temporary, emergency basis;
    6         amending s. 475.17, F.S.; clarifying education
    7         requirements that apply for postlicensure and initial
    8         real estate licensure; amending s. 475.183, F.S.;
    9         authorizing the commission to reinstate the license of
   10         an individual in certain circumstances; amending s.
   11         475.611, F.S.; revising the supervision requirements
   12         for registered trainee appraisers; amending s.
   13         475.612, F.S.; revising the supervision requirements
   14         for select graduate students; amending s. 475.621,
   15         F.S.; requiring the Department of Business and
   16         Professional Regulation to collect annual fees set by
   17         and transmitted to the appraisal subcommittee;
   18         amending s. 475.629, F.S.; requiring an appraiser to
   19         prepare and retain a work file in certain
   20         circumstances; requiring an appraisal management
   21         company to prepare and retain an order file in certain
   22         circumstances; requiring the work file and the order
   23         file to be retained for a specified period; requiring
   24         the work file and the order file to contain certain
   25         data, information, and documentation; requiring
   26         appraisal management companies to retain certain
   27         items; deleting the prohibition against the inspection
   28         or copying of certain records by the department, which
   29         had been allowed only in connection with a pending
   30         investigation or complaint; amending s. 475.6295,
   31         F.S.; providing that duly authorized agents and
   32         employees of the department may inspect an appraisal
   33         management company at all reasonable hours; amending
   34         s. 475.631, F.S.; removing the board’s authority to
   35         enter into written agreements with similar licensing
   36         or certification authorities; providing an effective
   37         date.
   38          
   39  Be It Enacted by the Legislature of the State of Florida:
   40  
   41         Section 1. Section 475.15, Florida Statutes, is amended to
   42  read:
   43         475.15 Registration and licensing of general partners,
   44  members, officers, and directors of a firm.—Each partnership,
   45  limited liability partnership, limited liability company, or
   46  corporation which acts as a broker shall register with the
   47  commission and shall renew the licenses or registrations of its
   48  members, officers, and directors for each license period.
   49  However, if the partnership is a limited partnership, only the
   50  general partners must be licensed brokers or brokerage
   51  corporations registered pursuant to this part. If the license or
   52  registration of at least one active broker member is not in
   53  force, the registration of a corporation, limited liability
   54  company, limited liability partnership, or partnership is
   55  canceled automatically during that period of time. The
   56  commission shall adopt rules that allow a brokerage to register
   57  a broker on a temporary, emergency basis if a sole broker of a
   58  brokerage dies or is unexpectedly unable to remain a broker.
   59         Section 2. Subsection (6) of section 475.17, Florida
   60  Statutes, is amended to read:
   61         475.17 Qualifications for practice.—
   62         (6) The postlicensure education requirements of this
   63  section, and the education course requirements for one to become
   64  initially licensed, do not apply to any applicant or licensee
   65  who has received a 4-year degree, or higher, in real estate from
   66  an accredited institution of higher education.
   67         Section 3. Subsection (4) is added to section 475.183,
   68  Florida Statutes, to read:
   69         475.183 Inactive status.—
   70         (4) The commission may reinstate the license of an
   71  individual whose license has become void if the commission
   72  determines that the individual failed to comply because of
   73  illness or economic hardship, as defined by rule. The individual
   74  must apply to the commission for reinstatement within 6 months
   75  after the date that the license becomes void. Such individual
   76  must meet all continuing education requirements prescribed by
   77  law, pay appropriate licensing fees, and otherwise be eligible
   78  for renewal of licensure under this section.
   79         Section 4. Paragraph (r) of subsection (1) of section
   80  475.611, Florida Statutes, is amended to read:
   81         475.611 Definitions.—
   82         (1) As used in this part, the term:
   83         (r) “Registered trainee appraiser” means a person who is
   84  registered with the department as qualified to perform appraisal
   85  services only under the direct supervision of a licensed or
   86  certified appraiser. A registered trainee appraiser may accept
   87  appraisal assignments only from her or his primary or secondary
   88  supervisory appraiser.
   89         Section 5. Subsection (5) of section 475.612, Florida
   90  Statutes, is amended to read:
   91         475.612 Certification, licensure, or registration
   92  required.—
   93         (5) This section does not apply to any full-time graduate
   94  student who is enrolled in a degree program in appraising at a
   95  college or university in this state, if the student is acting
   96  under the direct supervision of a certified or licensed
   97  appraiser and is engaged only in appraisal activities related to
   98  the approved degree program. Any appraisal report by the student
   99  must be issued in the name of the supervising individual who is
  100  responsible for the report’s content.
  101         Section 6. Subsection (2) of section 475.621, Florida
  102  Statutes, is amended to read:
  103         475.621 Registry of licensed and certified appraisers.—
  104         (2) The department shall collect from such individuals who
  105  perform or seek to perform appraisals in federally related
  106  transactions, an annual fee as set by, and transmitted to, the
  107  appraisal subcommittee to be transmitted to the Federal
  108  Financial Institutions Examinations Council on an annual basis.
  109         Section 7. Section 475.629, Florida Statutes, is amended to
  110  read:
  111         475.629 Retention of records.—An appraiser registered,
  112  licensed, or certified under this part or an appraisal
  113  management company registered under this part shall prepare and
  114  retain a work file for each appraisal, appraisal review, or
  115  appraisal consulting assignment. An appraisal management company
  116  registered under this part shall prepare and retain an order
  117  file for each appraisal, appraisal review, or appraisal
  118  consulting assignment. The work file and the order file shall be
  119  retained, for 5 years or the period specified in the Uniform
  120  Standards of Professional Appraisal Practice, whichever is
  121  greater. The work file must contain, original or true copies of
  122  any contracts engaging the appraiser’s or appraisal management
  123  company’s services, appraisal reports, and supporting data
  124  assembled and formulated by the appraiser or company in
  125  preparing appraisal reports or engaging in appraisal management
  126  services and all other data, information, and documentation
  127  required by the standards for the development or communication
  128  of a real estate appraisal as approved and adopted by the
  129  Appraisal Standards Board of The Appraisal Foundation, as
  130  established by rule of the board. The order file must contain
  131  original or true copies of any contracts engaging the
  132  appraiser’s services, the appraisal reports, any engagement
  133  materials or instructions from the client, and all other
  134  documents required by the standards for the development or
  135  communication of a real estate appraisal as approved and adopted
  136  by the Appraisal Standards Board of The Appraisal Foundation, as
  137  established by rule of the board. Notwithstanding the foregoing,
  138  while general contracts and materials pertaining to impaneling
  139  of an appraiser by an appraisal management company shall be
  140  retained under this section, such contracts and materials are
  141  not required to be maintained within the order file. Except as
  142  otherwise specified in the Uniform Standards of Professional
  143  Appraisal Practice, the period for retention of the records
  144  applicable to each engagement of the services of the appraiser
  145  or appraisal management company runs from the date of the
  146  submission of the appraisal report to the client. Appraisal
  147  management companies shall also retain the company accounts,
  148  correspondence, memoranda, papers, books, and other records in
  149  accordance with administrative rules adopted by the board. These
  150  records must be made available by the appraiser or appraisal
  151  management company for inspection and copying by the department
  152  upon reasonable notice to the appraiser or company. However, the
  153  department may not inspect or copy the records of an appraisal
  154  management company except in connection with a pending
  155  investigation or complaint. If an appraisal has been the subject
  156  of or has served as evidence for litigation, reports and records
  157  must be retained for at least 2 years after the trial or the
  158  period specified in the Uniform Standards of Professional
  159  Appraisal Practice, whichever is greater.
  160         Section 8. Section 475.6295, Florida Statutes, is amended
  161  to read:
  162         475.6295 Authority to inspect.—Duly authorized agents and
  163  employees of the department shall have the power to inspect in a
  164  lawful manner at all reasonable hours any appraisal management
  165  company, appraiser or appraisal office certified, registered, or
  166  licensed under this chapter, for the purpose of determining if
  167  any of the provisions of this chapter, chapter 455, or any rule
  168  promulgated under authority of either chapter is being violated.
  169         Section 9. Section 475.631, Florida Statutes, is amended to
  170  read:
  171         475.631 Nonresident licenses and certifications.—
  172         (1) Notwithstanding the requirements for certification set
  173  forth in ss. 475.615 and 475.616, the board may enter into
  174  written agreements with similar licensing or certification
  175  authorities of other states, territories, or jurisdictions of
  176  the United States to ensure for state-certified appraisers
  177  nonresident licensure or certification opportunities comparable
  178  to those afforded to nonresidents by this section. Whenever the
  179  board determines that another jurisdiction does not offer
  180  nonresident licensure or certification to state-certified
  181  appraisers substantially comparable to those afforded to
  182  certified appraisers or licensees of that jurisdiction by this
  183  section, the board shall require certified appraisers or
  184  licensees of that jurisdiction who apply for nonresident
  185  certification to meet education, experience, and examination
  186  requirements substantially comparable to those required by that
  187  jurisdiction with respect to state-certified appraisers who seek
  188  nonresident licensure or certification, not to exceed such
  189  requirements as are prescribed in ss. 475.615 and 475.616.
  190         (1)(2)(a) Any resident state-certified appraiser who
  191  becomes a nonresident shall, within 60 days, notify the board of
  192  the change in residency and comply with nonresident
  193  requirements. Failure to notify and comply is a violation of the
  194  license law, subject to the penalties in s. 475.624.
  195         (2)(b) All nonresident applicants, certified appraisers,
  196  and licensees shall comply with all requirements of board rules
  197  and this part. The board may adopt rules pursuant to ss.
  198  120.536(1) and 120.54 necessary for the regulation of
  199  nonresident certified appraisers and licensees.
  200         Section 10. This act shall take effect July 1, 2015.