The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise: (1) - (24)(No change.) (25)Evaluation--An opinion [estimate] of value that is not more than a limited appraisal, may be presented in a format that is less than a self-contained report, is prepared by a certified or licensed real estate appraiser or other lawfully authorized real estate professional, and includes an estimate of a property's market value, a certification and limiting conditions, and an analysis or the supporting information used in forming the opinion [estimate] of value. (26) - (43)(No change.) (44)Provisional License--A license issued [under the Texas Appraiser Licensing and Certification Act, Section 103.208, and §153.16 of this title (relating to Provisional License),] to individuals who have met the educational and examination requirements for licensing but who have not met the experience requirements. (45) - (59)(No change.) (60)USPAP--Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation. (61)[(60)] Workfile--Documentation necessary to support an appraiser's analysis, opinions, and conclusions, and in compliance with the Records Keeping section of the Ethics Rule of USPAP.
This agency hereby certifies that the proposal has
been reviewed by legal counsel and found to be within the agency's
legal authority to adopt.
Filed with the Office
of the Secretary of State on August 22, 2011
TRD-201103380 Devon V. Bijansky
General Counsel
Texas Appraiser Licensing and Certification Board
Earliest possible date of adoption: October 2, 2011
For further information, please call: (512) 936-3652
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