458.01 Cross-referenceCross-reference: See definitions in s. 440.01.

458.01 Cross-referenceCross-reference: See also s. SPS 85.120, Wis. adm. code.

458.02458.02 Limitations and exceptions. Nothing in this chapter shall be construed to prohibit a person who is not a certified appraiser or licensed appraiser from appraising real estate or from cosigning an appraisal report with a certified appraiser or licensed appraiser if the person complies with s. 458.055.

458.03(1)(1) In addition to the other duties and powers of the department under this chapter, the department shall do all of the following:

458.03(1)(b)(b) Subject to the procedure under s. 458.05, promulgate rules establishing criteria for the approval of educational and continuing educational programs and courses of study for appraisers and establishing criteria for the approval of the courses required under ss. 458.06 (2) (d) and 458.08 (2) (d).

458.03(1)(c)(c) Submit to the board a copy of any legislation proposed by the department relating to appraisers or appraisal management companies or to the board, prior to introduction in the legislature.

458.03(1)(d)(d) Transmit the annual registry fees paid to the department under s. 458.21 to the federal financial institutions examination council or its successor agency.

458.03(1)(dm)(dm) Transmit the annual registry fees paid to the department under s. 458.365 to the federal financial institutions examination council or its successor agency.

458.03(1)(e)(e) Promulgate rules specifying the types of real estate that may be appraised by licensed appraisers.

458.03(1)(f)(f) Promulgate rules specifying the manner in which certified appraisers and licensed appraisers shall place their titles, as described in s. 458.055, and certificate numbers on appraisal reports and written appraisal agreements.

458.03(2)(2) The department may prepare letters and bulletins and conduct clinics disseminating information to appraisers and appraisal management companies.

458.03(3)(3) In addition to the other duties and powers of the board under this chapter, the board shall do all of the following:

458.03(3)(a)(a) Advise the secretary on matters relating to appraisers or appraisal management companies or to the board.

458.03(3)(b)(b) At least once each year, transmit to the appraisal subcommittee a roster listing the names and addresses of certified appraisers and licensed appraisers.

458.03(3)(c)(c) Transmit reports to the appraisal subcommittee on a timely basis of supervisory activities involving appraisal management companies or other 3rd-party providers of appraisals and appraisal management services, as defined in s. 458.31 (2), including investigations initiated and disciplinary actions taken.

458.03(4)(4) The board does not have rule-making authority.

458.04(1)(1) If the secretary creates an advisory committee on examinations under s. 15.04 (1) (c), the advisory committee shall be chaired by an examination specialist, if an examination specialist is employed by the department, and shall report to the board and the secretary.

458.04(2)(2) If the secretary creates an advisory committee under s. 15.04 (1) (c), other than an advisory committee under sub. (1), to provide advice to the department on matters relating to appraisal practice, the advisory committee shall be chaired by a member of the board, if available, and shall report to the board and the secretary.

458.04(3)(a)(a) If the secretary creates an advisory committee under s. 15.04 (1) (c), other than an advisory committee under sub. (1), to provide advice to the department on matters relating to appraisal management companies, the advisory committee shall consist of the following members:

458.04(3)(a)1.1. One controlling individual, as defined in s. 458.31 (6).

458.04(3)(a)3.3. One member of the board who is an appraiser, who shall serve as chairperson of the advisory committee.