(a)  The term “state-certified real estate appraiser” may only be used to refer to individuals who hold the certificate and may not be used following or immediately in connection with the name or signature of a firm, partnership, corporation, or group; or in any manner that it might be interpreted as referring to a firm, partnership, corporation, group, or anyone other than an individual holder of the certificate.

Terms Used In Rhode Island General Laws 5-20.7-13

  • 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 Rhode Island General Laws 5-20.7-2
  • State-certified real estate appraiser: means a person who develops and communicates real estate appraisals and who holds a current, valid certificate issued to him or her for either general or residential real estate under the provisions of this chapter. See Rhode Island General Laws 5-20.7-2

(b)  No certificate shall be issued under the provisions of this chapter to any corporation, partnership, firm, or group. This is not construed to prevent a state-certified real estate appraiser from signing an appraisal report on behalf of a corporation, partnership, firm, or group practice.

History of Section.
P.L. 1990, ch. 424, § 1.