§ 17-14-102 - Necessity for registration, license, or certificate. - Arkansas Statutes

17-14-102. Necessity for registration, license, or certificate.

(a) The Arkansas Appraiser Licensing and Certification Act, 17-14-101 et seq., 17-14-201 et seq., and 17-14-301 et seq., is created in response to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and specifies three (3) classes of appraisers: state-licensed, state-certified residential, and state-certified general appraisers for federally related transactions. A fourth class is created for nonfederally related transactions, which shall be known as "state-registered appraisers".

(b) It is the intent of the General Assembly that this law be no more restrictive than required under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.