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92_HB5703
LRB9212626LBpr
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- LRB9212626LBpr
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.)