Definitions

(1) “Act” means the State Licensing and Certified Real Estate Appraisers Law, Tennessee Code Annotated, Title 62, Chapter 39. (2) “Appraisal Qualifications Board” or “AQB” means the Appraisal Qualifications Board of The Appraisal Foundation. (3) “Commission” means the Tennessee Real Estate Appraiser Commission. (4) “FIRREA” means Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Title 12, United States Code §§ 93, et seq. (5) “Rules” means the rules promulgated by the Commission. (6) “State Certified General Appraiser” means a person who has been issued a general real estate appraiser certificate by the Commission. (7) “State Certified Residential Appraiser” means a person who has been issued a residential real estate appraiser certificate by the Commission. (8) “State Licensed Appraiser” means a person who has been issued a real estate appraiser license by the Commission. (9) “Registered Trainee” means a person who has been issued a registration number as a registered real estate appraiser trainee in the State of Tennessee. GENERAL PROVISIONS CHAPTER 1255-01 (10) “Good Standing” means a person has not been subject to any disciplinary action within any jurisdiction within the last three (3) years that affects the appraiser’s legal eligibility to engage in appraisal practice. An appraiser subject to a disciplinary action would be considered to be in “good standing” three (3) years after the successful completion/termination of the sanction imposed against the appraiser.