(1) The board shall establish by regulation and collect the following fees for certification or licensure as an appraiser for: (a) Federally related transactions: 1. Initial application fee in an amount not to exceed two hundred dollars ($200); 2. Examination fee in an amount not to exceed two hundred dollars ($200); 3. a. An annual certificate or licensure fee in an amount not to exceed two hundred dollars ($200); b. Duplicate certificate fee in an amount not to exceed ten dollars ($10); and c. Certificate cor rection fee in an amount not to exceed ten dollars ($10); 4. Roster fee not to exceed fifty dollars ($50); and 5. Returned check fee not to exceed fifty dollars ($50); and (b) Nonfederally related transactions: 1. An annual certificate or lic ensure renewal fee in an amount not to exceed one hundred dollars ($100); and 2. Certificate correction fee in an amount not to exceed five dollars ($5). (2) The board shall, through the promulgation of an administrative regulation, establish and collect the following fees from education providers for review and approval of prelicensure and continuing education courses offered by education providers for licensure as an appraiser: (a) For prelicensure education course review, a fee not to exceed one hundred dollars ($100); and (b) For continuing education course review, a fee not to exceed fifty dollars ($50). (3) (a) All fees and charges collected by the board under the provisions of this chapter shall be paid into the Real Estate Appraisers Board's trust an d agency account in the State Treasury. (b) All expenses incurred by the board under the provisions of this chapter, including compensation to the board members and staff, shall be paid out of this account, subject to approval of the board. (c) The provisions of this subsection shall not apply to the fee charged pursuant to KRS 324A.155, which is required to be included in the appraisal management company recovery fund and which shall be paid into that fund.
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