Ohio · statute · Ohio Rev. Code ch. 4768 · 16 active provisions
As used in this chapter: (A) "Real estate appraisal" or "appraisal" means the act or process of developing an opinion of value of real property in conformity with the uniform standards of professional appraisal practice. (B) "Appraisal management company" means any person authorized either by a creditor of a consumer c…
(A)(1) No person shall do any of the following without first obtaining a license under this chapter: (a) Directly or indirectly engage or attempt to engage in business as an appraisal management company; (b) Directly or indirectly engage in or attempt to perform appraisal management services; (c) Advertise or hold itse…
The real estate appraiser board shall do all of the following: (A) Adopt rules, in accordance with Chapter 119. of the Revised Code in furtherance of this chapter, including, but not limited to, all of the following: (1) Procedures for criminal records checks that are required under section 4768.06 of the Revised Code,…
(A) The superintendent of real estate and professional licensing shall do all of the following: (1) Prescribe the form and content of all applications required by this chapter; (2) Receive applications for licenses and renewal thereof under this chapter and establish the procedures for processing, approving, and disapp…
The real estate appraiser board or the superintendent of real estate and professional licensing may compel, by order or subpoena, the attendance of witnesses to testify in relation to any matter over which the board or the superintendent has jurisdiction and that is the subject of the inquiry and investigation by the b…
(A) To obtain an appraisal management company license, each applicant shall submit all of the following to the superintendent of real estate and professional licensing: (1) A completed application on a form the superintendent provides; (2) The name of a controlling person who will be the main contact between the apprai…
(A) An appraisal management company licensed under this chapter may obtain a renewal license by filing an annual renewal application with the superintendent of real estate and professional licensing and paying the renewal fee established under division (A)(2) of section 4768.03 of the Revised Code. The renewal applicat…
The superintendent of real estate and professional licensing may refuse to issue a license to an applicant under this chapter based upon any act or omission for which a person, including a licensee, may be disciplined under division (K) of section 4768.13 of the Revised Code or may refuse to renew a license if the lice…
(A) An appraisal management company shall not remove the appraiser from its appraiser panel or otherwise refuse to assign requests for real estate appraisal services to the appraiser without first doing both of the following: (1) Notifying the appraiser in writing of the reasons the appraiser is being removed from the…
(A) Each appraisal management company licensed under this chapter shall maintain all of the following items for a period of at least five years from the date the appraisal report is submitted to the client: (1) The original or true copy of every request relating to the report that the appraisal management company recei…
(A) No employee, director, officer, or agent of an appraisal management company licensed under this chapter shall recklessly influence or attempt to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery, or in…
(A) An appraisal management company licensed under this chapter shall compensate an appraiser for the completion of an appraisal within sixty days of the date on which the appraiser transmits or otherwise provides the completed appraisal to the appraisal management company or its assignees, except in cases of breach of…
(A) Within ten business days after a person files with the division of real estate and professional licensing a written complaint against a person licensed under this chapter or any other person, the superintendent of real estate and professional licensing shall acknowledge receipt of the complaint by sending notice to…
(A) Upon receipt of a written complaint or upon the superintendent of real estate and professional licensing's own motion, the superintendent may investigate any person that allegedly violated division (A)(1) of section 4768.02 of the Revised Code. (B) If, after investigation, the superintendent determines there exists…
The superintendent of real estate and professional licensing shall deposit all moneys collected under this chapter into the state treasury to the credit of the real estate operating fund created under section 4735.211 of the Revised Code. Last updated October 3, 2023 at 1:49 PM
(A) Whoever violates division (A)(1), (2), (3), (4), (5), (6), (7), (8), or (9) or division (C) of section 4768.11 of the Revised Code is guilty of a felony of the fifth degree. (B) Whoever violates division (A)(10), (11), (12), or (13) of section 4768.11 of the Revised Code is guilty of a misdemeanor of the first degr…