Terms Used In North Carolina General Statutes 93E-2-5

  • Appraisal: A determination of property value.
  • appraiser: means a person who for a fee or valuable consideration develops and communicates real estate appraisals or otherwise gives an opinion of the value of real estate or any interest therein. See North Carolina General Statutes 93E-1-4
  • Board: means the North Carolina Appraisal Board established under N. See North Carolina General Statutes 93E-1-4
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3

Each appraisal management company registered under this Article shall designate a compliance manager who is responsible for ensuring the company operates in compliance with this Article. The compliance manager shall be a certified real estate appraiser on active status and in good standing, certified under Article 1 of this Chapter or under the comparable laws of another state. The appraisal management company shall file a form with the Board indicating the appraisal management company’s designation of compliance manager and the individual’s acceptance of the responsibility. An appraisal management company shall notify the Board of any change in the appraisal management company’s compliance manager. Any appraisal management company that does not comply with this section shall have the appraisal management company’s registration suspended pursuant to N.C. Gen. Stat. § 93E-2-8 until the appraisal management company complies with this section. An individual operating an appraisal management company as a sole proprietorship shall be considered the compliance manager for purposes of this Article. (2010-141, s. 1.)

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