TITLE XXX
OCCUPATIONS AND PROFESSIONS

Chapter 310-B
STATE LICENSED OR CERTIFIED REAL ESTATE APPRAISERS

Section 310-B:1

    310-B:1 Purpose. – The purpose of this chapter is to bring New Hampshire into compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. However, any real estate appraisal service performed by an individual licensed or certified under this chapter shall be subject to the supervision of the board.

Source. 1990, 167:3. 2006, 318:1, eff. Aug. 18, 2006.

Section 310-B:2

    310-B:2 Definitions. –
In this chapter:
I. "Analysis" means a study of real estate or real property other than estimating value.
II."Appraisal report"or"real estate appraisal report"means a written statement prepared by a licensed or certified appraiser, whether or not used in connection with a federally-related transaction under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, setting forth an opinion of defined value of an adequately described property as of a specific date, supported by the presentation and analysis of relevant market information. Nothing in this paragraph shall be interpreted to affect the right of any person to provide services under RSA 310-B:3, II, III, or IV.
III. "Appraisal assignment" means an engagement for which an appraiser is employed or retained to act, or would be perceived by third parties or the public as acting, as a disinterested third party in rendering an unbiased analysis, opinion, or conclusion relating to the nature, quality, value, or utility or specified interests in, or aspects of, identified real estate.
IV. "Appraisal Foundation" means the Appraisal Foundation incorporated as an Illinois nonprofit corporation on November 30, 1987. The purposes of the Appraisal Foundation are:
(a) To establish and improve uniform appraisal standards by defining, issuing and promoting such standards.
(b) To establish appropriate criteria for the certification, licensing, relicensing, and recertification of qualified appraisers by defining, issuing and promoting such qualification criteria; and to disseminate such qualification criteria to states, governmental entities and others.
(c) To develop or assist in the development of appropriate examinations for qualified appraisers.
V. [Repealed.]
VI. "Board" means the real estate appraiser board established pursuant to the provisions of this chapter.
VII. "Certified residential appraisal," "certified general appraisal," "licensed residential appraisal," "certified residential appraisal report," "certified general appraisal report," or "licensed residential appraisal report" means a written appraisal or appraisal report signed by a state licensed or certified real estate appraiser. All real estate appraisers shall identify which license or certificate they hold. An appraisal signed by a certified or licensed real estate appraiser represents to the public that the appraisal meets the appraisal standards defined in this chapter.
VIII. "Certified residential real estate appraiser," "certified general real estate appraiser," or "licensed residential real estate appraiser" means a New Hampshire state certified or licensed appraiser who develops and communicates real estate appraisals and who holds a valid certificate or license issued for either general or residential real estate appraising under the provisions of this chapter.
IX. "Federally-related transaction" means any transaction which:
(a) A federal financial institution's regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates; and
(b) Requires the services of an appraiser.
X. "Federal financial institutions regulatory agencies" means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration.
XI. "Financial institution" means an insured depository institution as defined is section 1813 of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 or an insured credit union as defined in section 1752 of such title.
XII. "Real estate" means an identified parcel or tract of land, including improvements, if any.
XIII. "Real estate related financial transaction" means any transaction involving:
(a) The sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof;
(b) The refinancing of real property or interests in real property; and
(c) The use of real property or interests in property as security for a loan or investment, including mortgage-backed securities.
XIV. "Real property" means one or more defined interests, benefits, and rights inherent in the ownership of real estate.
XV. "Valuation" means an estimate of the value of real estate or real property.
XVI. "Appraisal" means the practice of developing an opinion of the value of real property in conformance with the Uniform Standards for Professional Appraisal Practice as developed by the Appraisal Foundation.
XVII. [Repealed.]
XVIII. "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, except that a quality control examination of an appraisal report shall not be an appraisal review.
XIX. "Appraiser" means an individual who holds a license or certification as an appraiser and is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.
XX. [Repealed.]
XXI. "Controlling person" means:
(a) An officer director, or owner of greater than a 10 percent interest, of a corporation, partnership or other business entity, seeking to act as an appraisal management company in this state; or
(b) An individual employed, appointed, or authorized by an appraisal management company that has the authority to enter into a contractual relationship with other persons for the performance of services requiring registration as an appraisal management company and has the authority to enter into agreements with appraisers for the performance of appraisals; or
(c) An individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company.
XXII. "Person"means an individual, firm, partnership, limited partnership, limited liability company, association, corporation, or other group engaged in joint business activities, however organized.
XXIII. "Quality control examination" means an examination of an appraisal report for compliance and completeness including grammatical, typographical, or other similar errors.
XXIV. "Uniform Standards of Professional Appraisal Practice" (USPAP) means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

Source. 1990, 167:3. 1991, 308:1-3. 1994, 215:1. 2006, 318:2, 12, I. 2012, 164:1, 2, eff. Aug. 6, 2012. 2017, 148:3, I, II, eff. Aug. 15, 2017.

Section 310-B:2-a

    310-B:2-a Definitions for Appraisal Management Companies. –
In addition to the definitions in RSA 310-B:2 the following shall apply to appraisal management companies:
I. "Affiliate" means affiliate as provided in 12 U.S.C. section 1841.
II. "AMC National Registry" means the registry of state-registered appraisal management companies and federally regulated AMCs maintained by the Appraisal Subcommittee.
III. (a) "Appraisal management company" or "AMC" means a person that:
(1) Provides appraisal management services to creditors or to secondary mortgage market participants, including affiliates;
(2) Provides such services in connection with valuing a consumer's principal dwelling as security for a consumer credit transaction or incorporating such transactions into securitizations; and
(3) Within a given 12-month period oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state or 25 or more state-certified or state-licensed appraisers in 2 or more states;
(b) An AMC does not include a department or division of an entity that provides appraisal management services only to that entity.
IV. "Appraisal management services" means one or more of the following:
(a) Recruiting, selecting, and retaining appraisers;
(b) Contracting with state-certified or state-licensed appraisers to perform appraisal assignments;
(c) Managing the process of having an appraisal performed, including providing administrative services such as receiving appraisal orders and appraisal reports, submitting completed appraisal reports to creditors and secondary market participants, collecting fees from creditors and secondary market participants for services provided, and paying appraisers for services performed; and
(d) Reviewing and verifying the work of appraisers.
V. "Appraiser panel" means a network, list, or roster of licensed or certified appraisers approved by an AMC to perform appraisals as independent contractors for the AMC. Appraisers on an AMC's appraiser panel include both appraisers accepted by the AMC for consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions and appraisers engaged by the AMC to perform one or more appraisals in covered transactions or for secondary mortgage market participants in connection with covered transactions. An appraiser is an independent contractor if the appraiser is treated as an independent contractor by the AMC for purposes of federal income taxation.
VI. "Appraisal Subcommittee" means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
VII. "Consumer credit" means credit offered or extended to a consumer primarily for personal, family, or household purposes.
VIII. "Covered transaction" means any consumer credit transaction secured by the consumer's principal dwelling.
IX. "Creditor" means:
(a) A person who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than 4 installments (not including a down payment), and to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract.
(b) A person who regularly extends consumer credit if the person extended credit (other than credit subject to the requirements of 12 C.F.R. section 1026.32) more than 5 times for transactions secured by a dwelling in the preceding calendar year. If a person did not meet these numerical standards in the preceding calendar year, the numerical standards shall be applied to the current calendar year. A person regularly extends consumer credit if, in any 12-month period, the person originates more than one credit extension that is subject to the requirements of 12 C.F.R. 1026.32 section or one or more such credit extensions through a mortgage broker.
X. "Dwelling" means a residential structure that contains one to 4 units, whether or not that structure is attached to real property. The term includes an individual condominium unit, cooperative unit, mobile home, and trailer, if it is used as a residence. A consumer can have only one "principal" dwelling at a time. Thus, a vacation or other second home would not be a principal dwelling. However, if a consumer buys or builds a new dwelling that will become the consumer's principal dwelling within a year or upon the completion of construction, the new dwelling is considered the principal dwelling.
XI. "Federally regulated AMC" means an AMC that is owned and controlled by an insured depository institution, as defined in 12 U.S.C. section 1813 and regulated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.
XII. "Federally related transaction regulations" means regulations established by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the National Credit Union Administration, pursuant to sections 1112, 1113, and 1114 of FIRREA, Title XI, 12 U.S.C. sections 3341-3343.
XIII. "Person" means a natural person or an organization, including a corporation, partnership, proprietorship, association, cooperative, estate, trust, or government unit.
XIV. "Secondary mortgage market participant" means a guarantor or insurer of mortgage-backed securities, or an underwriter or issuer of mortgage-backed securities. Secondary mortgage market participant only includes an individual investor in a mortgage-backed security if that investor also serves in the capacity of a guarantor, insurer, underwriter, or issuer for the mortgage-backed security.
XV. "States" mean the 50 states and the District of Columbia and the territories of Guam, Mariana Islands, Puerto Rico, and the U.S. Virgin Islands.
XVI. "Uniform Standards of Professional Appraisal Practice" or "USPAP" means the current standards of the appraisal profession, developed for appraisers and users of appraisal services by the Appraisal Standards Board of the Appraisal Foundation.

Source. 2017, 148:1, eff. Aug. 15, 2017.

Section 310-B:3

    310-B:3 Licensure and Certification Use. –
I. No person, other than a certified or licensed real estate appraiser, shall assume or use that title or any title, designation, or abbreviation likely to create the impression of certification or licensure as a real estate appraiser by this state. A person who is not certified or licensed pursuant to this chapter shall not describe or refer to any appraisal or other evaluation or real estate located in this state by the term "certified" or "licensed."
II. Paragraph I shall not preclude a person who is not certified or licensed as a real estate appraiser from appraising real estate for non-federally related transactions for compensation.
III. The provisions of this chapter shall not apply to an employee, or an elected or appointed representative of a municipality, or a person under contract by a municipality doing valuation for the sole purpose of ad valorem taxation.
IV. The provisions of this chapter shall not apply to a real estate licensee under RSA 331-A when performing comparative market analyses or broker price opinions pursuant to permitted activities regulated by the New Hampshire real estate commission.

Source. 1990, 167:3. 1991, 308:4. 1997, 299:1, eff. Aug. 19, 1997.

Section 310-B:3-a

    310-B:3-a Repealed by 2023, 79:335:, I, eff. Sept. 1, 2023. –

Section 310-B:4

    310-B:4 Real Estate Appraiser Board. –
I. There is established a real estate appraiser board within the office of professional licensure and certification. The board shall be composed of the following 5 members, appointed by the governor with the consent of council:
(a) Three real estate appraisers with a minimum of 5 years' experience, consisting of one New Hampshire certified residential appraiser, one New Hampshire certified general appraiser, and one New Hampshire certified appraiser who is a broker licensed under RSA 331-A; provided that no 2 appraiser members shall be members of the same private appraisal organization.
(b) One representative from a New Hampshire lending institution.
(c) One member of the general public not associated directly or indirectly with banking, brokerage, real estate appraisal, insurance, or any other affected industry.
II. All appointments shall be made within 90 days after the effective date of this chapter.
III. On or before July 1, 1991, each real estate appraiser member of the board shall be certified or licensed are a real estate appraiser under this chapter. One such member shall hold the residential license and one such member shall hold a general appraiser certificate.
IV. The term of each member shall be 3 years, except that, of the members first appointed, 3 shall serve for 3 years, 2 shall serve for 2 years, and 2 shall serve for one year.
V. Upon expiration of their terms, members of the board shall continue to hold office until the appointment and qualification of their successors. No person shall serve as a member of the board for more than 2 consecutive terms. The appointing authority may remove a member for cause.
VI. The chairman of the board shall be elected from the board's members.

Source. 1990, 167:3. 1991, 308:5. 1997, 299:2. 2009, 29:3. 2011, 224:106, eff. July 1, 2011. 2015, 276:56, eff. July 1, 2015. 2023, 79:323, eff. Sept. 1, 2023; 235:28, V, eff. July 1, 2023.

Section 310-B:5

    310-B:5 Licensure or Certification Process. –
I. Applications for original license or certification, renewal license or certification and examinations shall be made in writing.
II. Appropriate fees, shall accompany all applications for original license, certification, renewal license, renewal certification, reciprocal license, and reciprocal certification. An annual federal registration fee shall be collected by the office for transmittal to the federal government under Title XI.
III. At the time of filing an application for certification or licensure, each applicant shall sign a pledge to comply with the standards set forth in this chapter and state that he understands the types of misconduct for which disciplinary proceedings may be initiated against a certified or licensed real estate appraiser, as set forth in this chapter.

Source. 1990, 167:3. 1991, 308:6. 2012, 164:3, eff. Aug. 6, 2012. 2023, 79:324, eff. Sept. 1, 2023.

Section 310-B:5-a

    310-B:5-a Prohibited Conduct. – A person licensed or certified under this chapter, shall, after a hearing, be subject to disciplinary action as provided in RSA 310-B:18 for being convicted in a court of competent jurisdiction of this or any other state, or federal court, of forgery, embezzlement, obtaining money under false pretenses, bribery, larceny, extortion, conspiracy to defraud, sexual crimes, drug distribution, arson, physical violence, or any similar offense or offenses; provided that, for the purposes of this section being convicted shall include all instances in which a plea of guilty or nolo contendere is the basis for the conviction, and all proceedings in which the sentence has been deferred or suspended.

Source. 2006, 318:3, eff. Aug. 18, 2006. 2023, 79:325, eff. Sept. 1, 2023.

Section 310-B:6

    310-B:6 Classes of Licensure or Certification. –
I. There shall be the following classifications of real estate appraisers which shall meet the criteria as the board shall require by rules adopted under RSA 541-A:
(a) Apprentice. The apprentice real estate appraiser classification shall consist of those persons who do not meet the requirements under subparagraph (b), (c), or (d), but are in the process of completing the requirements for one of the classifications of a real estate appraiser. Apprentice real estate appraisers shall be required to work under the supervision of a New Hampshire certified appraiser who has been certified for at least 2 years, until the requirements for licensure or certification have been met.
(b) Licensed residential real estate appraiser.
(c) Certified residential real estate appraiser.
(d) Certified general real estate appraiser.
II. The application for original licensure or certification, or renewal licensure or certification shall specify the classification of licensure or certification being applied for or previously granted.

Source. 1990, 167:3. 1991, 308:7. 1997, 299:3. 2006, 318:4. 2012, 164:4, eff. Aug. 6, 2012.

Section 310-B:6-a

    310-B:6-a Criminal History Record Checks. –
I. Every applicant for initial licensure shall submit to the office a criminal history record release form, as provided by the New Hampshire division of state police, office of safety, which authorizes the release of his or her criminal history record, if any, to the office.
II. The applicant shall submit with the release form a complete set of fingerprints taken by a qualified law enforcement agency or an authorized employee of the office of safety. The office shall submit the criminal history records release form and fingerprint form to the division of state police which shall conduct a criminal history records check through its records and through the Federal Bureau of Investigation. In the event that the first set of fingerprints is invalid due to insufficient pattern, a second set of fingerprints shall be necessary in order to complete the criminal history records check. If, after 2 attempts, a set of fingerprints is invalid due to insufficient pattern, the office may, in lieu of the criminal history records check, conduct the national background check based on personal information.
III. Upon completion of the records check, the division of state police shall release copies of the criminal history records to the office. The office shall maintain the confidentiality of all criminal history records information received pursuant to this section.
IV. The applicant shall bear the cost of a criminal history record check.

Source. 2013, 98:1, eff. June 20, 2013. 2018, 318:16, eff. Aug. 24, 2018. 2023, 79:326, eff. Sept. 1, 2023.

Section 310-B:7

    310-B:7 Examination Requirements. – An original license or certification as a licensed or certified real estate appraiser may be issued to any person who has demonstrated through a proctored written examination process that he or she meets the minimum requirements of the Appraisal Foundation.

Source. 1990, 167:3. 1991, 308:8-10. 2006, 318:5, eff. Aug. 18, 2006.

Section 310-B:8

    310-B:8 Examination Prerequisites. –
I. As prerequisites to taking the examination for certification as a certified general real estate appraiser, an applicant shall present evidence of having completed the required classroom hours in subjects related to real estate appraisal, including instruction related to the Uniform Standards of Professional Appraisal Practice, from an educational source approved by the board, in accordance with rules adopted by the board pursuant to RSA 541-A.
II. As prerequisites to taking the examination for certification as a certified residential real estate appraiser, an applicant shall present evidence of having completed the required classroom hours in subjects related to real estate appraisal, including instruction related to the Uniform Standards of Professional Appraisal Practice, from an educational source approved by the board, in accordance with rules adopted by the board pursuant to RSA 541-A.
III. As prerequisites to taking the examination for licensure as a licensed residential real estate appraiser, an applicant shall present evidence of having completed the required classroom hours in subjects related to real estate appraisal, including instruction related to the Uniform Standards of Professional Appraisal Practice, from an educational source approved by the board, in accordance with rules adopted by the board pursuant to RSA 541-A.

Source. 1990, 167:3. 1991, 308:11. 1994, 215:2. 2006, 318:6, eff. Aug. 18, 2006. 2023, 79:327, eff. Sept. 1, 2023.

Section 310-B:9

    310-B:9 Experience Requirements. –
I. An applicant for original licensure or certification as a licensed or certified real estate appraiser shall possess such experience as the board shall require by rules adopted under RSA 541-A. Such rules shall be based upon the criteria established by the Appraisal Qualifications Board of the Appraisal Foundation at the time of the application.
II. Each applicant for license or certification shall furnish a signed, detailed listing of the real estate appraisal reports or file memoranda for each year for which experience is claimed by the applicant. Upon request, the applicant shall make available to the board or office for examination a sample of appraisal reports which the applicant has prepared in the course of his or her appraisal practice.

Source. 1990, 167:3. 1991, 308:12. 2006, 318:7. 2012, 164:5, eff. Aug. 6, 2012. 2023, 79:328, eff. Sept. 1, 2023.

Section 310-B:10

    310-B:10 Repealed by 2023, 79:335, II, eff. Sept. 1, 2023. –

Section 310-B:11

    310-B:11 Nonresident Licensure or Certification. –
I. Every nonresident applicant for licensure or certification under this chapter shall submit, with the application for licensure or certification, an irrevocable consent that service of process upon him may be made by delivery of the process to the secretary of state if, in an action against the applicant in a court of this state arising out of the applicant's activities as a licensed or certified real estate appraiser, the plaintiff cannot, in the exercise of due diligence, effect personal service upon the applicant.
II. A nonresident who has complied with paragraph I may obtain a license or certificate as a licensed or certified real estate appraiser by conforming to all of the provisions of this chapter relating to licensed or certified real estate appraisers.

Source. 1990, 167:3. 1991, 308:14, eff. July 1, 1991.

Section 310-B:12

    310-B:12 Repealed by 2023, 79:335, III, eff. Sept. 1, 2023. –

Section 310-B:12-a

    310-B:12-a Repealed by 2023, 79:335, IV, eff. Sept. 1, 2023. –

Section 310-B:12-b

    310-B:12-b Registration of Appraisal Management Companies. –
I. It is unlawful for a person to directly or indirectly engage in or attempt to engage in business as an appraisal management company or to advertise or hold itself out as engaging in or conducting business as an appraisal management company in this state without first obtaining a registration issued by the office under the provisions of this chapter.
(a) An applicant for registration as an appraisal management company in this state shall submit to the office an application using the method prescribed and furnished by the office of professional licensure and certification.
(b) In the event a registration process is unavailable upon the effective date of this chapter, an appraisal management company already conducting business in this state may continue to conduct business in accordance with this chapter until the 120th day after a registration process becomes available.
II. An application for the registration required by paragraph I of this section shall include the following information:
(a) Name of the person seeking registration and the fictitious name or names (if any) under which it does business in any state;
(b) Business address of the person seeking registration;
(c) Phone contact information of the person seeking registration;
(d) If the person is not a corporation that is domiciled in this state, the name and contact information for the company's agent for service of process in this state;
(e) The name, address, and contact information for any individual or any corporation, partnership, or other business entity that owns 10 percent or more of the appraisal management company;
(f) The name, address, and contact information for one controlling person designated as the main contact for all communication between the appraisal management company and the board;
(g) A certification that the person has a system and process in place to verify that an individual being added to the appraiser panel of the appraisal management company holds a license in good standing in this state under this chapter if a license or certification is required to perform appraisals;
(h) A certification that the person requires appraisers completing appraisals at its request to comply with the Uniform Standards of Professional Appraisal Practice (USPAP) including the requirements for geographic and product competence;
(i) A certification that the person has a system in place to verify that only licensed or certified appraisers are used for federally related transactions;
(j) A certification that the person has a system in place to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under section 129E of the Truth in Lending Act, including the requirement that fee appraisers be compensated at a customary and reasonable rate when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer;
(k) A certification that the person maintains a detailed record of each service request that it receives and the appraiser that performs the residential real estate appraisal services for the appraisal management company;
(l) An irrevocable uniform consent to service of process, pursuant to RSA 310-B:12-d;
(m) Any other information required by the board which is reasonably necessary to implement this chapter.
III. An application for the renewal of a registration shall include substantially similar information required for the initial registration as noted in paragraph II, as determined by the board.
IV. A registration granted by the board pursuant to this chapter shall be valid for one year from the date on which it is issued.

Source. 2012, 164:7, eff. Aug. 6, 2012. 2021, 197:170, eff. July 1, 2021. 2023, 79:329, eff. Sept. 1, 2023.

Section 310-B:12-c

    310-B:12-c Appraisal Management Company Exemptions. –
I. The provisions of this chapter shall not apply to an appraisal management company that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institutions regulatory agency.
II. The provisions of this chapter shall not apply to a business entity that exclusively engages real estate appraisers on an employer and employee basis or on a subcontractor basis for the performance of all real property appraisal services in the normal course of its business, except to the extent federal law or regulation requires such entities to register with and be subject to supervision by a state appraiser certifying and licensing agency.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-d

    310-B:12-d Appraisal Management Company Consent to Service of Process. – Each person applying for a registration as an appraisal management company that is not domiciled in this state shall complete an irrevocable uniform consent to service of process, as prescribed by the board.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-e

    310-B:12-e Repealed by 2023, 79:335, V, eff. Sept. 1, 2023. –

Section 310-B:12-f

    310-B:12-f Appraisal Management Company Owner Requirements. –
I. An appraisal management company applying for registration in this state shall not:
(a) Be owned by any person who has had an appraiser license or certificate in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked, unless such license or certificate was subsequently granted or reinstated;
(b) Be more than 10 percent owned by a person who is not of good moral character, which for purposes of this section shall require that such person has not been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal, banking, mortgage lending or the provision of financial services, or any crime involving fraud, misrepresentation or moral turpitude.
II. For purposes of subparagraph I(b), each owner of more than 10 percent of an appraisal management company shall submit to a background investigation to be carried out by a law enforcement agency or other entity authorized by the board.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-g

    310-B:12-g Appraisal Management Company Designated Contact. – Each appraisal management company applying to the board for registration in this state shall designate one controlling person who is an employee of the appraisal management company that will be the designated contact for all communication between the board and the appraisal management company.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-h

    310-B:12-h Appraisal Management Company Appraiser Credentials. –
I. An appraisal management company that applies to the office for a registration to do business in this state as an appraisal management company shall not:
(a) Knowingly employ any individual to perform appraisal services, who has had a license or certificate to act as an appraiser in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked, unless such license or certificate was subsequently granted or reinstated;
(b) Knowingly enter into any independent contractor arrangement for the performance of appraisal services, in verbal, written, or other form, with any individual who has had a license or certificate to act as an appraiser in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked, unless such license or certificate was subsequently granted or reinstated.
II. Prior to assigning appraisal orders, an appraisal management company shall have a system in place to verify that a person being added to the appraiser panel holds the appropriate appraiser credential in good standing.
III. Each appraisal management company seeking to be registered in this state shall certify to the office on an annual basis on a form prescribed by the office that the appraisal management company has systems in place to verify that:
(a) An individual on the appraiser panel has not had a license or certification as an appraiser refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation in the previous 12 months, unless such license or certificate was subsequently granted or reinstated; and
(b) Only licensed or certified appraisers are used to complete appraisal assignments in connection with federally related transactions.

Source. 2012, 164:7, eff. Aug. 6, 2012. 2023, 79:330, 331, eff. Sept. 1, 2023.

Section 310-B:12-i

    310-B:12-i Appraisal Management Company; Appraisal Review. – Any employee of, or independent contractor to, an appraisal management company that performs a USPAP Standard 3 review of an appraisal report on property located in this state shall be an appraiser with the proper level of licensure issued by the office. Quality control examinations are exempt from this requirement as they are not considered a Standard 3 review.

Source. 2012, 164:7, eff. Aug. 6, 2012. 2023, 79:332, eff. Sept. 1, 2023.

Section 310-B:12-j

    310-B:12-j Appraisal Management Company; Adherence to Standards. –
I. Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that it requires appraisers completing appraisals at its request to comply with the Uniform Standards of Professional Appraisal Practice including the requirements for geographic and product competence.
II. Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that it has a system in place to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under section 129E of the Truth in Lending Act, including the requirement that fee appraisers be compensated at a customary and reasonable rate when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer.
III. An appraisal management company shall not prohibit an appraiser from reporting the fee paid to the appraiser in the body of the appraisal report, however an appraisal management company may require an appraiser to present any such disclosure in a specified format and location.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-k

    310-B:12-k Appraisal Management Company; Recordkeeping. – Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that it maintains a detailed record of each service request that it receives and the appraiser that performs the appraisal for the appraisal management company. Such records must be retained for a period of at least 5 years after an appraisal is completed or 2 years after final disposition of a judicial proceeding related to the assignment, whichever period expires later.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-l

    310-B:12-l Appraisal Management Company; Appraisal Reports. –
I. An appraisal management company may not alter, modify, or otherwise change a completed appraisal report submitted by an appraiser without the appraiser's written consent, except as necessary to comply with regulatory mandates or legal requirements.
II. An appraisal management company may not use an appraisal report submitted by an independent appraiser, or any of the data or information contained therein, for any purpose other than its intended use without the appraiser's or the intended end user's written consent.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-m

    310-B:12-m Appraisal Management Company; Registration Number. –
I. The office shall issue a unique registration number to each appraisal management company registered in this state pursuant to this chapter.
II. The office shall maintain a list of the appraisal management companies registered in this state and the registration numbers assigned to such persons.
III. An appraisal management company registered in this state shall disclose the registration number provided to it by the office on the engagement documents presented to an appraiser.

Source. 2012, 164:7, eff. Aug. 6, 2012. 2023, 79:333, eff. Sept. 1, 2023.

Section 310-B:12-n

    310-B:12-n Appraisal Management Company; Unlawful Acts. –
I. It shall be a violation of this chapter for any employee, partner, director, officer, or agent of an appraisal management company to:
(a) Influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery or in any other manner, including but not limited to:
(1) Withholding or threatening to withhold timely payment or partial payment for an appraisal with the exception of a substandard or noncompliant appraisal;
(2) Withholding or threatening to withhold future business from an appraiser, or demoting, terminating or threatening to demote or terminate an appraiser;
(3) Promising or implying that an appraiser may be given opportunities for future business, promotions, or increased compensation;
(4) Conditioning an assignment of an appraisal or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary estimate or opinion requested from an appraiser;
(5) Requesting that an appraiser provide an estimated, predetermined, or desired valuation in an appraisal, or provide estimated values or comparable sales at any time prior to the appraiser's completion of an appraisal;
(6) Providing to an appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or target amount to be loaned to the borrower, except that a copy of the sales contract for purchase transactions may be provided; and
(7) Requiring an appraiser to prepare an appraisal report if the appraiser has indicated to the appraisal management company that he or she does not have the necessary expertise for the specific geographic area;
(b) Require an appraiser to indemnify the appraisal management company against liability, damages, losses, or claims other than those liabilities, damages, losses or claims arising out of the services performed by the appraiser, including performance or non-performance of the appraiser's duties and obligations, whether as a result of negligence or willful misconduct;
(c) Submit or attempt to submit false, misleading, or inaccurate information in any application for registration or renewal;
(d) Fail to timely respond to any subpoena or any other legally-binding request for information;
(e) Fail to timely obey a lawful administrative order of the board; or
(f) Fail to fully cooperate in any board investigation.
II. Notwithstanding any other provision in this chapter, an appraisal management company shall not be prohibited from requesting that an appraiser:
(a) Consider additional appropriate property information;
(b) Provide additional information concerning the basis for an evaluation; or
(c) Correct objective factual errors in an appraisal report.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-o

    310-B:12-o Appraisal Management Company; Mandatory Reporting. – An appraisal management company that has a reasonable basis to believe an appraiser has failed to comply with applicable laws, the Uniform Standards of Professional Appraisal Practice or other ethical or professional requirements in connection with a consumer credit transaction secured by a consumer's principal dwelling, shall refer the matter to the board if the failure to comply is material. For purposes of this section, a failure to comply is material if it is likely to significantly affect the value assigned to the consumer's principal dwelling.

Source. 2012, 164:7, eff. Aug. 6, 2012.

Section 310-B:12-p

    310-B:12-p Appraiser Panel; Annual Size Calculation. –
For purposes of determining whether, within a 12-month period, an AMC oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state or 25 or more state-certified or state-licensed appraisers in 2 or more states:
I. An appraiser is deemed part of the AMC's appraiser panel as of the earliest date on which the AMC:
(a) Affirms acceptance of the appraiser for the AMCs consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions; or
(b) Engages the appraiser to perform one or more appraisals on behalf of a creditor for a covered transaction or secondary mortgage market participant in connection with covered transactions.
II. An appraiser who is deemed part of the AMC's appraiser panel pursuant to paragraph I is deemed to remain on the panel until the date on which the AMC:
(a) Sends written notice to the appraiser removing the appraiser from the appraiser panel, with an explanation of its action; or
(b) Receives written notice from the appraiser asking to be removed from the appraiser panel or notice of the death or incapacity of the appraiser.
III. If an appraiser is removed from an AMC's appraiser panel pursuant to paragraph II, but the AMC subsequently re-admits or engages the appraiser at any time during the 12 months after the AMC's removal, the removal will be deemed not to have occurred, and the appraiser will be deemed to have been part of the AMC's appraiser panel without interruption.
IV. The period for purposes of counting appraisers on an AMC's appraiser panel may be the calendar year or a 12-month period established by law or rule of each state with which the AMC is required to register.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:12-q

    310-B:12-q Appraisal Management Company Registration; Regulation. –
I. As a participating state electing to register AMCs, this state hereby establishes and maintains within the state appraiser certifying and licensing agency a licensing program that is subject to the ownership limitations set forth below and with the legal authority and mechanisms to:
(a) Review and approve or deny an AMC's application for initial registration;
(b) Review and renew or review and deny an AMC's registration periodically;
(c) Examine the books and records of an AMC operating in the state and require the AMC to submit reports, information, and documents;
(d) Verify that the appraisers on the AMC's appraiser panel hold valid state certifications or licenses, as applicable;
(e) Conduct investigations of AMCs to assess potential violations of applicable appraisal-related laws, regulations, or orders;
(f) Discipline, suspend, terminate, or deny renewal of the registration of an AMC that violates applicable appraisal-related laws, regulations, or orders; and
(g) Report an AMC's violation of applicable appraisal-related laws, regulations, or orders, as well as disciplinary and enforcement actions and other relevant information about an AMC's operations, to the Appraisal Subcommittee.
II. As a participating state electing to register AMCs, this state hereby imposes requirements on AMCs that are not owned and controlled by an insured depository institution and not regulated by a federal financial institutions regulatory agency to:
(a) Register with and be subject to supervision by the state appraiser certifying and licensing agency;
(b) Engage only state-certified or state-licensed appraisers for federally-related transactions in conformity with any federally-related transaction regulations;
(c) Establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience necessary to competently complete the appraisal assignment for the particular market and property type;
(d) Direct the appraiser to perform the assignment in accordance with USPAP; and
(e) Establish and comply with processes and controls reasonably designed to ensure that the AMC conducts its appraisal management services in accordance with the requirements of section 129E(a) through (i) of the Truth in Lending Act, 15 U.S.C. section 1639e(a) through (i), and regulations thereunder.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:12-r

    310-B:12-r Ownership Limitations for State-registered AMCs. –
I. Appraiser certification or licensing of owners.
(a) An AMC subject to state registration shall not be registered by this state or included on the AMC National Registry if such AMC, in whole or in part, directly or indirectly, is owned by any person who has had an appraiser license or certificate refused, denied, canceled, surrendered in lieu of revocation, or revoked in any state for a substantive cause, as determined by the appropriate state appraiser certifying and licensing agency.
(b) An AMC subject to state registration is not barred by from being registered by this state or included on the AMC National Registry if the appraiser license of the appraiser with an ownership interest was not revoked for a substantive cause and has been reinstated by the state or states in which the appraiser was licensed or certified.
II. Good moral character of owners. An AMC shall not be registered by this state if any person that owns more than 10 percent of the AMC:
(a) Is determined by the state appraiser certifying and licensing agency not to have good moral character; or
(b) Fails to submit to a background investigation carried out by the state appraiser certifying and licensing agency.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:12-s

    310-B:12-s Requirements for Federally Regulated Appraisal Management Companies; Reporting Information for the AMC National Registry. – A federally regulated AMC operating in this state must report to the state the information required to be submitted by the state to the Appraisal Subcommittee, pursuant to the Appraisal Subcommittee's policies regarding the determination of the AMC National Registry fee, including but not necessarily limited to the collection of information related to ownership limitations set forth in this chapter.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:12-t

    310-B:12-t Information to be Presented to the ASC by Participating States. – As a state electing to register AMCs for purposes of permitting AMCs to provide appraisal management services relating to covered transactions in this state, this state shall submit to the ASC the information required to be submitted by ASC regulations or guidance concerning AMCs that operate in the state.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:12-u

    310-B:12-u Application; Appraisal Management Company Provisions. – Nothing in RSA 310-B:12-b through RSA 310-B:12-t shall be construed to limit the board's ability to enforce the remainder of this chapter or the administrative rules adopted by the board against persons licensed or registered by the board.

Source. 2017, 148:2, eff. Aug. 15, 2017.

Section 310-B:13

    310-B:13 Repealed by 2023, 79:335, VI, eff. Sept. 1, 2023. –

Section 310-B:13-a

    310-B:13-a Repealed by 2023, 79:335, VII, eff. Sept. 1, 2023. –

Section 310-B:14

    310-B:14 Continuing Education. –
I. [Repealed.]
II. The basic continuing education requirement for renewal of licensure or certification shall be the completion by the applicant, during the immediately preceding term of licensure or certification, of those courses and programs required by the board by rules adopted under RSA 541-A. In adopting such rules, the board shall base its requirements on the criteria established by the Appraisal Qualifications Board of the Appraisal Foundation.
III. In lieu of meeting the requirements of paragraph II, an applicant for relicensing or recertification may satisfy all or part of the requirements by presenting evidence of the following:
(a) Completion of an educational program of study determined by the board to be equivalent, for continuing educations purposes, to courses approved by the board under paragraph II.
(b) Participation other than as a student in educational processes and programs approved by the board which relate to real property appraisal theory, practices or techniques, including, but not necessarily limited to, teaching, program development and preparation of textbooks, monographs, articles, and other instructional materials.
IV. The board shall give favorable consideration to courses of instruction, seminars, and other real property appraisal educational courses or programs previously or hereafter developed by or under the auspices of professional appraisal organizations or other approved educational resources.
V. No amendment or repeal of a rule adopted by the board relative to this section shall operate to deprive a licensed or certified real estate appraiser of credit toward renewal of licensure or certification for any course of instruction completed by the applicant prior to the amendment or repeal of the rule which would have qualified for continuing education credit under the rule as it existed prior to the repeal or amendment.
VI. Licensure or certification as a licensed or certified real estate appraiser that has been revoked as a result of disciplinary action by the board shall not be reinstated unless the applicant presents evidence of completion of the continuing education required by this chapter. This requirement of evidence of continuing education shall not be imposed upon an applicant for reinstatement who has been required to successfully complete the examination for licensed or certified real estate appraiser as a condition to reinstatement of licensure or certification.

Source. 1990, 167:3. 1991, 308:17. 2012, 164:9, eff. Aug. 6, 2012. 2023, 79:335, VIII, eff. Sept. 9, 2023.

Section 310-B:15

    310-B:15 Principal Place of Business. –
I. Each licensed or certified real estate appraiser shall advise the board of the address of his principal place of business and all other addresses at which he is currently engaged in the business of preparing real estate appraisal reports.
II. Whenever a licensed or certified real estate appraiser changes a place of business, he shall, within 10 days of such change, give written notification of the change to the board and apply for an amended license or certificate.
III. Every licensed or certified real estate appraiser shall notify the board of his or her current residence address and electronic address. Residence addresses and electronic addresses on file with the board are exempt from disclosure as public records.

Source. 1990, 167:3. 1991, 308:18. 2012, 164:10, eff. Aug. 6, 2012.

Section 310-B:16

    310-B:16 License or Certificate. –
I. A license or certificate issued under authority of this chapter shall bear a license or certificate number assigned by the office.
II. Each licensed or certified real estate appraiser shall place such appraiser's license or certificate number adjacent to or immediately below the appraiser's signature whenever the appraiser's signature is used in an appraisal report or in a contract or other instrument used by the license or certificate holder in conducting real estate appraisal activities.

Source. 1990, 167:3. 1991, 308:19. 1994, 215:4. 1997, 299:4, eff. Aug. 19, 1997. 2021, 197:171, eff. July 1, 2021. 2023, 79:334, eff. Sept. 1, 2023.

Section 310-B:16-a

    310-B:16-a Appraisal Management Companies. –
I. The board shall adopt rules under RSA 541-A which shall establish minimum requirements for the annual registration of appraisal management companies. Such minimum requirements shall include that such companies:
(a) Register with the board by each January 1 and be subject to supervision by the New Hampshire real estate appraiser board;
(b) Verify that only licensed or certified appraisers are used for federally related transactions;
(c) Comply with the Uniform Standards of Professional Appraisal Practice in coordinating appraisals; and
(d) Conduct appraisals independently and free from inappropriate influence and coercion pursuant to the appraisal independence standards established under section 129E of the federal Truth in Lending Act.
II. An appraisal management company shall not be registered by the board or included on the national registry if such company, in whole or in part, directly or indirectly, is owned by any person who has had an appraiser license or certificate refused, denied, cancelled, surrendered in lieu of revocation, or revoked in any state. Additionally, each person that owns more than 10 percent of an appraisal management company shall be of good moral character, as determined by the board, and shall submit to a background investigation carried out by the board.
III. The board shall adhere to regulations for the reporting of the activities of appraisal management companies to the Appraisal Subcommittee in determining the payment of the annual registry fee.
IV. The requirements of this section shall take effect to appraisal management companies beginning the later of:
(a) January 1, 2013; or
(b) 120 days after the first date on which all rules, forms and policies necessary to implement this chapter have been finalized and made available by the board. No unregistered appraisal management company may perform services related to a federally related transaction in the New Hampshire after January 1, 2013.

Source. 2012, 164:11, eff. Aug. 6, 2012.

Section 310-B:17

    310-B:17 Use of Term. –
I. The term "licensed real estate appraiser" or "certified real estate appraiser" may only be used to refer to individuals who hold the license or certificate and may not be used following or immediately in connection with the names or signature of a firm, partnership, corporation, or group; or in such manner that it might be interpreted as referring to a firm, partnership, corporation, group, or anyone other than an individual holder of the license or certificate.
II. No license or certificate shall be issued under the provisions of this chapter to a corporation, partnership, firm or group. This shall not be construed to prevent a licensed or certified real estate appraiser from signing an appraisal report on behalf of a corporation, partnership, firm or group practice.

Source. 1990, 167:3. 1991, 308:20, eff. July 1, 1991.

Section 310-B:17-a

    310-B:17-a Repealed by 2012, 164:20, I, eff. Aug. 6, 2012. –

Section 310-B:17-b

    310-B:17-b Repealed by 2012, 164:20, II, eff. Aug. 6, 2012. –

Section 310-B:18

    310-B:18 Repealed by 2023, 79:335, IX, eff. Sept. 1, 2023. –

Section 310-B:18-a

    310-B:18-a Standards for Professional Conduct. – For purposes of RSA 310-B:18, the Uniform Standards of Professional Appraisal Practice (USPAP) ethical and professional conduct standards in effect at the time of the appraisal assignment shall be the ethical and professional conduct standards to be followed at the time of any violation.

Source. 2006, 318:10, eff. Aug. 18, 2006.

Section 310-B:18-b

    310-B:18-b Repealed by 2023, 79:335, X, eff. Sept. 1, 2023. –

Section 310-B:19

    310-B:19 Repealed by 2023, 79:335, XI, eff. Sept. 1, 2023. –

Section 310-B:20

    310-B:20 Repealed by 2023, 79:335, XII, eff. Sept. 1, 2023. –

Section 310-B:21

    310-B:21 Repealed by 2023, 79:335, XIII, eff. Sept. 1, 2023. –

Section 310-B:22

    310-B:22 Repealed by 2021, 197:173, eff. July 1, 2021. –

Section 310-B:23

    310-B:23 Retention of Records. –
I. A licensed or certified real estate appraiser shall retain for 5 years, all reports and supporting data assembled and formulated by the appraiser in preparing reports.
II. This 5-year period for retention of records is applicable to each engagement of the services of the appraiser and shall commence upon the date of the submittal of the appraisal to the client unless, within such 5-year period, the appraiser is notified that the appraisal or report is involved in litigation, in which event the 5-year period for the retention of records shall commence upon the date of the final disposition of such litigation.
III. All records required to be maintained under the provisions of this chapter shall be made available by the licensed or certified real estate appraiser for inspection and copying by the board, upon a showing of good cause, on reasonable notice to the appraiser.

Source. 1990, 167:3. 1991, 308:26, 27, eff. July 1, 1991.

Section 310-B:23-a

    310-B:23-a Repealed by 2023, 79:335, XIV, eff. Sept. 1, 2023. –

Section 310-B:24

    310-B:24 Rulemaking Authority. –
The board shall adopt rules pursuant to RSA 541-A, relative to:
I. The application eligibility requirements for the issuance of any initial license or certificate issued under this chapter, including the issuance of such licenses to applicants holding a currently valid license or other authorization to practice in another jurisdiction.
I-a. The application eligibility requirements for the issuance of any temporary practice permit issued under this chapter.
II. How an applicant shall be examined.
III. The criteria for renewal of a license or certificate.
IV. Ethical standards required to be met by each holder of a license or certificate issued under this chapter and how such license or certificate may be revoked for violation of these standards.
V. Standards for appraisal education programs and the issuance of evidence indicating satisfactory completion of such program.
VI. The registration and supervision of appraisal management companies under RSA 310-B:16-a.
VII. [Repealed.]
VIII. Establishing continuing education and experience requirements which comport with criteria set forth by the board.
IX. [Repealed.]
X. The conditions and requirements for granting a waiver to any rule adopted by the board.

Source. 1990, 167:3. 1991, 308:28-30. 1997, 299:12. 2012, 164:19, eff. Aug. 6, 2012. 2021, 197:172, eff. July 1, 2021. 2023, 79:335, XV and XVI, eff. Sept. 1, 2023; 212:60, IV, eff. Oct. 3, 2023.

Section 310-B:25

    310-B:25 Severability. – If any provisions of this chapter or the application thereof to any person or in any circumstance are held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provisions or applications, and to this end the provisions of this chapter are severable.

Source. 1990, 167:3. 1997, 299:13, eff. Aug. 19, 1997.