Bill Text: FL S0608 | 2015 | Regular Session | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Real Estate Brokers and Appraisers
Spectrum: Slight Partisan Bill (? 2-1)
Status: (Passed) 2015-05-22 - Chapter No. 2015-54 [S0608 Detail]
Download: Florida-2015-S0608-Comm_Sub.html
Bill Title: Real Estate Brokers and Appraisers
Spectrum: Slight Partisan Bill (? 2-1)
Status: (Passed) 2015-05-22 - Chapter No. 2015-54 [S0608 Detail]
Download: Florida-2015-S0608-Comm_Sub.html
Florida Senate - 2015 CS for CS for SB 608
By the Committees on Fiscal Policy; and Regulated Industries;
and Senator Stargel
594-03398-15 2015608c2
1 A bill to be entitled
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.
