Section 0600-06-.05 - RECOGNITION OF PROFESSIONAL APPRAISAL DESIGNATIONS(1) Form of requests. Requests for recognition of a professional appraisal designation must be submitted by the organization which bestows the designation through its authorized officers, directors, or employees. Requests shall contain the following information:(a) Organization name, address of principal office and office where records are maintained, names of principal officers and administrative officials.(b) Copy of current organization charter, by-laws, rules and other documents setting forth the purposes, structure, and governance of the organization.(c) Name and description of professional appraisal designations for which recognition is sought, including detailed description of the standards which must be met for initial qualification or continuing designation.(d) Description of organizational policies and procedures designed to ensure that only qualified persons receive designations.(e) Such additional or supporting information as staff may reasonably require to complete review of the request.(2) Notice of action. Review staff shall advise the organization if additional information is needed and shall advise the organization in writing whether the request is approved or denied. Denials shall specify reasons for the action.(3) Criteria for review. Recognition shall be granted upon a finding that (a) the organization exists in good faith for the purpose of promoting and improving appraisal and valuation: (b) the designation for which recognition is sought is a professional appraisal designation which is bestowed only upon persons who meet qualifications which match or exceed the education and experience requirements for agent qualification provided by law: and (c) the organization has and applies policies and procedures which insure that only persons who meet the qualifications in fact are allowed to obtain and retain the professional designation.(4) Denial or revocation. Designations may be denied for cause and designations previously approved for recognition may be revoked upon finding that the organization no longer meets the criteria for approval set forth above. The organization shall be given written notice specifying reasons for the action, and may request the board to review the decision.Tenn. Comp. R. & Regs. 0600-06-.05
Original rule May 11, 1998; effective July 25, 1998.Authority: T.C.A. §§ 67-1-305 and 67-5-1514.