HB 1354 — AN ACT to create and enact a new section to chapter 43-23.3 of the North Dakota Century Code, relating to evaluations conducted by appraisers; and to amend and reenact sections 43-23.3-01, 43-23.3-04, and 43-23.3-18 of the North Dakota Century Code, relating to the definitions of agency and evaluation, an exemption from appraisal permit requirements, and the standards of professional appraisal practice.

25.1077.01000 Sixty-ninth Legislative Assembly of North Dakota In Regular Session Commencing Tuesday, January 7, 2025 HOUSE BILL NO.

1354 of(Representatives North Dakota Introduced by Representatives D.

Ruby, Swiontek, Wolff, VetterVetter) Senators(Senators Barta, Meyer, ThomasThomas) AAN BILLACT for an Act to amendcreate and reenactenact sectionsa 43-23.3-01new andsection 43-23.3-18to chapter 43-23.3 of the North Dakota Century Code, relating to theevaluations definitionsconducted ofby agencyappraisers; and evaluation, the standards of professional appraisal practice, and appraisal and evaluation guidelines.

and to amend and reenact sections 43-23.3-01, 43-23.3-04, and 43-23.3-18 of the North Dakota Century Code, relating to the definitions of agency and evaluation, an exemption from appraisal permit requirements, and the standards of professional appraisal practice.

"Agency" means:means the:

FarmConsumer creditfinancial administration;protection bureau;

FederalFarm depositcredit insuranceadministration; corporation;

NationalFederal creditdeposit unioninsurance administration;corporation;

National credit union administration;

f.

and f.g.

The term does not include an evaluation.

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"Evaluation" means an estimate of the value of real property forand usereal inestate amade federallyin relatedaccordance realwith estatetitle financialXI transactionof forthe whichFinancial anInstitutions appraisalReform, isRecovery, notand requiredEnforcement byAct federalof law.[Pub.

L.

101-73, 103 Stat.

183] and provided to an entity regulated by an agency for use in a real estate-related financial transaction for which an appraisal is not required by federal law.

"Real estate" means an identified parcel or tract of land including improvements, and interests, benefits, and rights inherent in the ownership of real estate.estateif any.

"Uniform"Real standardsproperty" of professional appraisal practices" means standardsone ofor appraisalmore promulgateddefined byinterests, thebenefits, appraisaland standardsrights boardinherent ofin the appraisalownership foundationof asreal adoptedestate. by the board.

17.19.19.

"Uniform standards of professional appraisal practicespractice" means standards of appraisal promulgated by the appraisal standards board of the appraisal foundation as adopted by the board.

17.20.

Section 43-23.3-1843-23.3-04 of the North Dakota Century Code is amended and reenacted as follows:

Page43-23.3-04. No.

2Permit 25.1077.01000required Sixty-ninth- LegislativeExemptions. Assembly 43-23.3-18.

Standards of professional appraisal practice - Exception - Appraisal and evaluation guidelines.

AnExcept as provided in this section, a person may not directly or indirectly engage in, advertise, conduct the business of, or act in any capacity as an apprentice, licensed, or certified appraiser shall:without first obtaining a permit as provided in this chapter.

2.

An appraiser, that is apprenticed, licensed, or certified in another state may not engage in, advertise, conduct the business of, or act in any capacity as an appraiser in this state without first obtaining a temporary permit under section 43-23.3-11 or a permit under section 43-23.3-04.1.

3.

This chapter does not apply to a:

ShallA complylicensed withreal estate broker or salesperson who, in the standardsordinary course of professionalbusiness, appraisalgives practicean andopinion ethicalto rulesa specifiedpotential byseller theor uniformthird standardsparty ofas professionalto appraisalthe practicerecommended andlisting allprice otherof standardsreal andestate ethicalor requirementsan adoptedopinion byto thea appraisalpotential standardspurchaser boardor ofthird theparty appraisalas foundation,to exceptthe asrecommended authorizedpurchase underprice subdivisionof b.real estate.

b.However, the opinion as to the listing price or the purchase price may not be referred to as an appraisal.

May4. provide an evaluation to an institution regulated by an agency without complying with the uniform standards of professional appraisal practice.

AnThis evaluationchapter must:does not apply to a H.