[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]
DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4 CCR 725-2

CHAPTER 12:  LICENSE TITLES, LICENSE DOCUMENTS, AND SIGNATURES

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Board of Real Estate Appraisers (the “Board”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Board.

STATEMENT OF BASIS

The statutory basis for the rules titled Rules of the Board of Real Estate Appraisers is Part 7 of Title 12, Article 61, Colorado Revised Statutes, as amended.  

STATEMENT OF PURPOSE

The purpose of this rule is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the statute and the provisions of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

SPECIFIC PURPOSE OF THIS RULEMAKING

The specific purpose of this rule is to amend or repeal existing rules with respect to license titles, documents and signatures.
 
Proposed New, Amended and Repealed Rules

[Deleted material shown struck through, new material shown ALL CAPS. Rules, or portions of rules, which are unaffected are reproduced.  Readers are advised to obtain a copy of the complete rules of the Board at www.dora.state.co.us/real-estate/rulemaking/BOREA/index.htm]

CHAPTER 12:  LICENSE TITLES, LICENSE DOCUMENTS, AND SIGNATURES
	
12.4   In each appraisal report or other appraisal related work product the license held by the appraiser(s) shall be clearly identified by using the license titles defined in Board rules 1.13, 1.14 and 1.15 and including the license number.  Such license titles and numbers shall be identified wherever the licensee signs, by any means or method, the report or other work product, including, but not limited to the:
	   A.  Letter of transmittal;
	   B.  Certification of the appraiser(s); and
     C.  Appraisal or other work product report form or document, including addenda thereto.

12.8   When complying with Rule 12.4 an appraiser shall use the full license or permit title in Rules 1.13, 1.14, 1.15, and 1.18, or shall use the appropriate abbreviation as listed below, followed by the license or permit number.  Use of initials only, such as the alphabetical prefix included with each board issued license number to identify the type of license or permit is prohibited except when necessary to comply with federally implanted data collection or reporting requirements (for example FNMA (“Fannie Mae”) or FHLMC (“Freddie Mac”) implemented policies or guidelines).
	Licensed Appraiser:				Lic. App. or Lic. Appr.
	Certified Residential Appraiser: 			Crt. Res. App. or Cert. Res. Appr.
	Certified General Appraiser:			Crt. Gen. App. or Cert. Genl. Appr.
	Temporary Practice Permit:			Temp. Prac. Pmt.