WSR 04-01-138

PROPOSED RULES

DEPARTMENT OF LICENSING


[ Filed December 19, 2003, 9:17 a.m. ]

Original Notice.

Preproposal statement of inquiry was filed as WSR 03-22-041.

Title of Rule: WAC 308-125-200.

Purpose: Incorporation by reference of the 2004 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(1) and 18.235.030(1).

Statute Being Implemented: Chapter 18.140 RCW.

Summary: Incorporate the 2004 edition of the Uniform Standards of Professional Appraisal Practice into WAC 308-125-200.

Reasons Supporting Proposal: That real estate appraisals in Washington 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 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.

Explanation of Rule, its Purpose, and Anticipated Effects: WAC 308-125-200 will incorporate by reference the 2004 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: [No Information Suppled by Agency.]

No small business economic impact statement has been prepared under chapter 19.85 RCW. This proposed change only adopts the current edition of the Uniform Standards of Professional Appraisal Practice.

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, BPD #102, Olympia, WA, on Tuesday, January 27, 2004, at 9:00 a.m.

Assistance for Persons with Disabilities: Contact Ralph Birkedahl by January 22, 2004, 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 January 25, 2004.

Date of Intended Adoption: January 27, 2004.

December 19, 2003

Cleotis Borner, Jr.

Program Manager

OTS-6860.1


AMENDATORY SECTION(Amending WSR 03-02-040, filed 12/24/02, effective 1/24/03)

WAC 308-125-200   Standards of practice.   (1) The standard of practice governing real estate appraisal activities will be the ((2003)) 2004 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). 03-02-040, 308-125-200, filed 12/24/02, effective 1/24/03; 02-03-012, 308-125-200, filed 1/4/02, effective 2/4/02. 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.]

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