PROPOSED RULES
Original Notice.
Preproposal statement of inquiry was filed as WSR 01-16-106.
Title of Rule: WAC 308-125-200 Standards of practice.
Purpose: Incorporation by reference the 2002 edition of the Uniform Standards of Professional Appraisal Practice, the generally recognized national organized standards of real estate appraisal. Incorporation by reference is required because to incorporate the whole text would be unduly cumbersome and expensive.
Statutory Authority for Adoption: RCW 18.140.030(16), (17).
Statute Being Implemented: Chapter 18.140 RCW.
Summary: Incorporate the 2002 edition of the Uniform Standards of Professional Appraisal Practice into WAC 308-125-200.
Reasons Supporting Proposal: That real estate appraisals in Washington state be performed in accordance with current generally accepted appraisal standards as evidenced by the most recent amendments to appraisal standards promulgated by the Appraisal Standards Board of the Appraisal Foundation. This is required by Section 1110, Title XI of the Financial Institutions Recovery, Reform and Enforcement Act of 1989 (12 U.S.C. 3339).
Name of Agency Personnel Responsible for Drafting, Implementation and Enforcement: Cleotis Borner, Jr., Olympia, (360) 664-6504.
Name of Proponent: Department of Licensing, Real Estate Appraiser Program, governmental.
Rule is not necessitated by federal law, federal or state court decision.
Explanation of Rule, its Purpose, and Anticipated Effects: WAC 308-125-200 will incorporate by reference the 2002 edition of the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation.
Proposal Changes the Following Existing Rules: Adopts current edition of the Uniform Standards of Professional Appraisal Practice.
No small business economic impact statement has been prepared under chapter 19.85 RCW. The proposed rule only adopts the current edition of the Uniform Standards of Professional Appraisal Practice and has no economic impact on small business.
RCW 34.05.328 does not apply to this rule adoption.
Hearing Location: Department of Licensing, Business and Professions Division, 405 Black Lake Boulevard, Building 2, Conference Room, Olympia, WA, on Tuesday, November 27, 2001, at 9 a.m.
Assistance for Persons with Disabilities: Contact Ralph Birkedahl by November 21, 2001, TDD (360) 664-0116, or (360) 664-6504.
Submit Written Comments to: Cleotis Borner, Jr., Real Estate Appraiser Program, P.O. Box 9015, Olympia, WA 98507-9015, fax (360) 586-0998, by November 22, 2001.
Date of Intended Adoption: December 26, 2001.
October 23, 2001
Cleotis Borner, Jr.
Program Manager
OTS-5237.1
AMENDATORY SECTION(Amending WSR 00-23-038, filed 11/9/00,
effective 12/10/00)
WAC 308-125-200
Standards of practice.
(1) The standard of
practice governing real estate appraisal activities will be the
((2001)) 2002 edition of the Uniform Standards of Professional
Appraisal Practice of the Appraisal Foundation. A copy of the
Uniform Standards of Professional Appraisal Practice is available
for review and inspection at the office of the Real Estate
Appraiser Unit Office, Olympia, Washington. The Uniform
Standards of Professional Appraisal Practice is a copyright
document. Copy of the full text may be obtained from the
Appraisal Foundation at The Appraisal Foundation, P.O. Box 96734,
Washington, DC 20090-6734.
(2) Expert review appraisers as defined by RCW 18.140.010(11) while performing expert reviews pursuant to chapter 18.140 RCW are exempt from the Uniform Standards of Professional Appraisal Practice, Standard 3 review provisions while performing expert reviews for the director.
[Statutory Authority: [RCW 18.140.030 (16), (17) and chapter 18.140 RCW.] 00-23-038, 308-125-200, filed 11/9/00, effective 12/10/00. Statutory Authority: RCW 43.24.086. 00-04-057, 308-125-200, filed 1/28/00, effective 2/28/00; 99-04-074, 308-125-200, filed 2/2/99, effective 3/5/99; 98-17-083, 308-125-200, filed 8/18/98, effective 9/18/98. Statutory Authority: RCW 18.140.030. 91-04-074, 308-125-200, filed 2/5/91, effective 3/8/91.]