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17-10-101. Responsibilities of real estate licensees and appraisers — Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-10-101. Responsibilities of real estate licensees and appraisers — Definitions.
(a) As used in this section:
(1) “Agent” means any licensee as defined under § 17-42-103 or any appraiser;
(2) “Appraiser” means any appraiser, state-certified appraiser, state-certified residential appraiser, state-licensed appraiser, or state-registered appraiser, as those terms are defined under § 17-14-103;
(3) “Licensee” shall have the same meaning as provided by § 17-42-103;
(4) “Offender” shall have the same meaning as provided by § 12-12-903;
(5) “Psychologically impacted” means without limitation that the real property was or was at any time suspected to have been the site of a homicide, suicide, or felony; and
(6) “Transferee” means and includes without limitation a buyer, purchaser, grantee, lessee, tenant, or one receiving any estate or interest in real property.
(b) The existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates a property might be or is psychologically impacted is not a material fact that must be disclosed in a real property transaction.
(c) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee as agent of a potential or actual transferee of real property for failure to inquire about, make a disclosure about, or release information about the existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates that the real property is psychologically impacted.
(d) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee acting as agent of a potential or actual transferee of real property for failure to inquire about, make a di
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-10-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:17-10-101
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 506b22afc28b67a1c690097ad0c4f2ed2e5c1ffc53064573365d5304de066d58
Source location: content.xml paragraph 458
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17-10-101. Responsibilities of real estate licensees and appraisers — Definitions.
(a) As used in this section:
(1) “Agent” means any licensee as defined under § 17-42-103 or any appraiser;
(2) “Appraiser” means any appraiser, state-certified appraiser, state-certified residential appraiser, state-licensed appraiser, or state-registered appraiser, as those terms are defined under § 17-14-103;
(3) “Licensee” shall have the same meaning as provided by § 17-42-103;
(4) “Offender” shall have the same meaning as provided by § 12-12-903;
(5) “Psychologically impacted” means without limitation that the real property was or was at any time suspected to have been the site of a homicide, suicide, or felony; and
(6) “Transferee” means and includes without limitation a buyer, purchaser, grantee, lessee, tenant, or one receiving any estate or interest in real property.
(b) The existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates a property might be or is psychologically impacted is not a material fact that must be disclosed in a real property transaction.
(c) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee as agent of a potential or actual transferee of real property for failure to inquire about, make a disclosure about, or release information about the existence of any fact or circumstance or suspicion of the existence of any fact or circumstance that indicates that the real property is psychologically impacted.
(d) No cause of action shall arise against an appraiser of real property, a licensee as agent of an owner, or a licensee acting as agent of a potential or actual transferee of real property for failure to inquire about, make a disclosure about, or release information about the existence of the fact that real property is located in the vicinity of an offender.
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Arkansas Code — all titles (historical 2020) · legal_authorities
12-12-903. Definitions.
As used in this subchapter:
(1) “Adjudication of guilt” or other words of similar import mean a:
(A) Plea of guilty;
(B) Plea of nolo contendere;
(C) Negotiated plea;
(D) Finding of guilt by a judge; or
(E) Finding of guilt by a jury;
(2)(A) “Administration of criminal justice” means performing functions of investigation, apprehension, detention, prosecution, adjudication, correctional supervision, or rehabilitation of accused persons or criminal offenders.
(B) “Administration of criminal justice” also includes criminal identification activities and the collection, maintenance, and dissemination of criminal justice information;
(3) “Aggravated sex offense” means an offense in the Arkansas Code substantially equivalent to “aggravated sexual abuse” as defined in 18 U.S.C. § 2241 as it existed on March 1, 2003, which principally encompasses:
(A) Causing another person to engage in a sexual act:
(i) By using force against that other person; or
(ii) By threatening or placing or attempting to threaten or place that other person in fear that any person will be subjected to death, serious bodily injury, or kidnapping;
(B) Knowingly:
(i) Rendering another person unconscious and then engaging in a sexual act with that other person; or
(ii) Administering to another person by force or threat of force, or without the knowledge or permission of that person, a drug, intoxicant, or similar substance and thereby:
(a) Substantially impairing the ability of that other person to appraise or control conduct; and
(b) Engaging or attempting to engage in a sexual act with that other person; or
(C) Crossing a state line with intent to:
(i) Engage or attempt to engage in a sexual act with a person who has not attained twelve (12) yea
Source: Arkansas Code — historical release 78 (November 6, 2020) · 12-12-903
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 12-12-903. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-103. Definitions.
As used in the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq.:
(1) “Appraisal”:
(A) As a noun, means the act or process of estimating value or an estimate of value; and
(B) As an adjective, means of or pertaining to appraising and related functions, i.e., appraisal practice and appraisal services;
(2) “Appraisal Foundation” and “foundation” mean the Appraisal Foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois;
(3) “Appraisal practice” and “appraisal services” mean the work or services performed by appraisers for clients;
(4) “Appraisal Standards Board” means the board created under Article XI, sections 11.01 — 11.13 inclusive, of the bylaws of the Appraisal Foundation, as amended April 22, 1990;
(5) “Appraisal Subcommittee” means the subcommittee of the Federal Financial Institutions Examination Council established under Title XI, the Real Estate Appraisal Reform Amendments of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, section 1102, by amendment to the Federal Financial Institutions Examination Council Act of 1978, 12 U.S.C. § 3301 et seq., through the addition of new section 1011, “Establishment of Appraisal Subcommittee”;
(6) “Appraiser” or “real estate fee appraiser” means any person who, for a fee or other consideration, develops and communicates a real estate appraisal or otherwise gives an opinion of the value of real estate or any interest in real estate;
(7) “Appraiser Qualifications Board” means the board created under Article XII, sections 12.01 — 12.08 inclusive, of the bylaws of the Appraisal Foundation, as amended April 22, 1990;
(8) “Board” means the Arkansas
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-14-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-103. Definitions.
As used in this chapter:
(1)(A) “Associate broker” means an individual who has a broker's license and who is employed by a principal broker, or is associated with a principal broker as an independent contractor, and who participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker or executive broker.
(B) An associate broker shall have no supervisory authority over any other licensee;
(2) “Branch office” means a principal broker's office other than his or her principal place of business;
(3) “Broker's price opinion” means an estimate prepared by a licensee that details the probable selling price of real estate and provides a varying level of detail about the real estate's condition, market, and neighborhood, and information about sales of comparable real estate;
(4) “Classroom hour” means a period of at least fifty (50) minutes, but not more than sixty (60) minutes, of actual classroom instruction with the instructor present;
(5) “Continuing education” means postlicensure education derived from participation in courses in real estate-related subjects that have been approved by the Arkansas Real Estate Commission or that are not required to be approved by the commission;
(6) “Continuing education unit” means a period of ten (10) contact hours of actual classroom instruction with the instructor present;
(7)(A) “Executive broker” means an individual who:
(i) Has a broker's license;
(ii) Is employed by a principal broker or associated with a principal broker as an independent contractor; and
(iii) Participates in any activity described in subdivision (10) of this section while under the supervision of a principal broker.
(B) An executive broker may supervise assoc
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-42-103. This identifies an authority to review, not proof of applicability.