1. A real estate appraiser examining board is established within the banking division of the department of commerce. The board consists of seven members, two of whom shall be public members and five of whom shall be certified real estate appraisers.

Terms Used In Iowa Code 543D.4

  • Board: means the real estate appraiser examining board established pursuant to this chapter. See Iowa Code 543D.2
  • certified real estate appraiser: means a person who develops and communicates real estate appraisals and who holds a current, valid certificate for appraisals of types of real estate which may include residential, commercial, or rural real estate, as may be established under this chapter. See Iowa Code 543D.2
  • person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
 2. The governor shall appoint the members of the board who are subject to confirmation by the senate. The governor may remove a member for cause.
 3. A certified real estate appraiser member of the board shall be actively engaged in practice as a certified real estate appraiser and shall have been so engaged for five years preceding appointment, the last two of which shall have been in this state. The governor shall attempt to represent each class of certified appraisers in making the appointments.
 4. The term of each member is three years. Vacancies occurring during a term shall be filled by appointment by the governor for the unexpired term.
 5. Upon expiration of their terms, members of the board shall continue to hold office until the appointment and qualification of their successors. A person shall not serve as a member of the board for more than three terms, but appointment to fill an unexpired term shall not be considered a complete term for this purpose.
 6. The public members of the board shall not engage in the practice of real estate appraising.
 7. The board shall meet at least once each calendar quarter to conduct its business.
 8. The members of the board shall elect a chairperson from among the members to preside at board meetings.
 9. A quorum of the board is four members.
 10. Members of the board are entitled to receive a per diem as specified in section 7E.6 for each day spent in performance of duties as members and shall be reimbursed for all actual and necessary expenses incurred in the performance of duties as members.