093_HB2426

 
                                     LRB093 06367 LCB 06486 b

 1        AN ACT concerning appraisers.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  Real  Estate Appraiser Licensing Act is
 5    amended by changing Section 20 as follow:

 6        (225 ILCS 457/20)
 7        Sec.   20.   Director   of    Real    Estate    Appraisal
 8    Administration.
 9        (a)  The  Commissioner  must  shall appoint a Director of
10    Real Estate Appraisal Administration.  The  person  appointed
11    as  the  Director  must hold either a current State Certified
12    General Real Estate Appraiser  license  or  a  current  State
13    Certified  Residential Real Estate Appraiser license and be a
14    designated  member  of  at  least  one   of   the   appraisal
15    organizations   that,   at   the  time  of  appointment,  are
16    represented on the Appraisal Foundation.  The  Director  must
17    shall  be  credited  with  all  fees and continuing education
18    requirements that come due during the term of employment.
19        (b)  The Director must shall:
20             (1)  be the direct liaison  between  the  Office  of
21        Banks and Real Estate and the Real Estate Appraisal Board
22        and  must  shall  assist  the  Board  in carrying out its
23        functions and duties under this Act;
24             (2)  be the direct liaison  between  the  Office  of
25        Banks  and  Real  Estate and real estate appraisers, real
26        estate appraisal organizations,  and  other  real  estate
27        related organizations;
28             (3)  administer  the  provisions of this Act, direct
29        and supervise the Real  Estate  Appraisal  Administration
30        Division  of the Office of Banks and Real Estate, subject
31        to the approval of the Commissioner;
 
                            -2-      LRB093 06367 LCB 06486 b
 1             (4)  prepare and circulate  to  licensed  appraisers
 2        educational  and  informational materials that the Office
 3        of Banks and Real Estate deems necessary for guidance  or
 4        assistance to licensed appraisers; and
 5             (5)  appoint  committees  and  hire  contractors  as
 6        necessary to assist in the administration and enforcement
 7        of this Act.
 8    (Source: P.A. 90-571, eff. 7-1-98.)