1. Establishment. The Board of Real Estate Appraisers is established within the department pursuant to Title 5, section 12004-A, subsection 9-B and shall carry out the purposes of this Act. [PL 1999, c. 185, §5 (NEW).] 2. Members. The board consists of 9 members appointed by the Governor. Each member must be a resident of this State. The board consists of: A. Two public members as defined in Title 5, section 12004-A; [PL 2025, c. 359, §1 (AMD).] B. Five members who hold valid appraiser licenses, including at least one member who holds a certified general license and one member who holds a certified residential real property appraiser license; [PL 2025, c. 359, §1 (AMD).] C. One member who is actively engaged in the business of real estate brokerage as defined in section 13001, subsection 2; and [PL 2025, c. 359, §1 (NEW).] D. One member who is actively engaged in the business of banking, including lending for the purpose of buying real property, or who is actively engaged in the mortgaging of real property as governed by Title 33, chapter 9. [PL 2025, c. 359, §1 (NEW).] [PL 2025, c. 359, §1 (AMD).] 3. Geographic distribution. [PL 2007, c. 402, Pt. GG, §3 (RP).] 4. Terms; removal. Terms of the members of the board are for 3 years. Appointments of members must comply with Title 10, section 8009. Members may be removed by the Governor for cause. [PL 2007, c. 402, Pt. GG, §3 (AMD).] 5. Meetings; chair. The board shall meet at least once a year to conduct its business and to elect a chair. Additional meetings must be held as necessary to conduct the business of the board and may be convened at the call of the chair or a majority of the board members. [PL 2013, c. 246, Pt. B, §27 (AMD).] 6. Election of officers. [PL 2007, c. 402, Pt. GG, §3 (RP).] 7. Exemption from standard. The following are exempt from the requirements of the Uniform Standards of Professional Appraisal Practice, Standards 3 and 4 (2024): A. A board member serving in the capacity of assigned complaint officer while performing an investigation or testifying at an adjudicatory hearing; [PL 2011, c. 286, Pt. L, §1 (NEW).] B. A board member serving in the capacity of reviewer while reviewing the work experience of an applicant for licensure; and [PL 2011, c. 286, Pt. L, §1 (NEW).] C. An investigator employed by or retained by the department while performing an investigation or testifying at an adjudicatory hearing. [PL 2011, c. 286, Pt. L, §1 (NEW).] [PL 2023, c. 543, §1 (AMD).]
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