N.Y. Executive Law 160-S – Use of term
§ 160-s. Use of term. 1. The title "state certified real estate appraiser" may only be used to refer to individuals who hold the certificate, and the title "state licensed real estate appraiser" may only be used to refer to individuals who hold the license, and the title "state licensed real estate appraiser assistant" may only be used to refer to individuals who hold the license, and may not be used following or immediately in conjunction with the name or signature of a firm, partnership, corporation or group; or in such manner that it might be interpreted as referring to a firm, partnership, corporation, group or anyone other than an individual holder of the certificate or license.
Terms Used In N.Y. Executive Law 160-S
- Appraisal: A determination of property value.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real estate: means an identified parcel or tract of land, including improvements, if any. See N.Y. Executive Law 160-A
2. No certificate or license shall be issued under the provisions of this article to a corporation, partnership, firm or group. This shall not be construed to prevent a state certified or licensed real estate appraiser from signing an appraisal report on behalf of a corporation, partnership, firm or group practice.