During a contested MREC hearing, a licensee's attorney argues that the MREC cannot regulate the conduct of real estate appraisers because appraiser licensing falls under a separate statute. The attorney further argues that the MREC should defer to the Mississippi Real Estate Appraiser Licensing and Certification Act for any valuation-related conduct. Which statement most accurately reflects the legal relationship between the MREC and real estate appraiser regulation in Mississippi?
Correct Answer
A) The attorney is correct — real estate appraisers are regulated exclusively under Miss. Code Ann. §73-34-1 et seq., and the MREC has no jurisdiction over licensed appraisers
The attorney's argument is correct. Under Mississippi law, real estate appraisers are regulated exclusively under Miss. Code Ann. §73-34-1 et seq. (the Mississippi Real Estate Appraiser Licensing and Certification Act), which is a separate statutory scheme from the Mississippi Real Estate Brokers License Act (§73-35-1 et seq.). The MREC does not regulate appraisers. Appraiser licensing and discipline are handled by the Mississippi Real Estate Appraiser Licensing and Certification Board, a separate regulatory body.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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