2306.1 Pursuant to Section 1121 of the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, 12 U.S.C. § 1811, and the Act, the Board shall issue an individual a temporary license if the individual completes an application provided by the Board and provides documentation that he or she meets the following requirements:

(a) The individual is licensed or certified and in good standing under the laws of another state;

(b) The property to be appraised by the individual is part of a federally related transaction, is located in the District, and the assignment and property are specifically identified in the application;

(c) The appraisal assignment is of a temporary nature and is limited to one (1) specific assignment or six (6) months, whichever is shorter;

(d) Upon completion of the assignment, the temporary license is surrendered to the Board; and

(e) The individual pays the applicable fee.

2306.2 The holder of a temporary permit to practice in the District is subject to the applicable provisions of this chapter and the Act.

2306.3 The Director or the Board may revoke a temporary license without a hearing for any reason that the Board determines to be in the interest of the health or welfare of the citizens of the District, upon a minimum of five (5) days notice given in the manner prescribed by § 3318 of Chapter 33 of this Title.

2306.4 An individual shall not hold more than two (2) temporary licenses at a time.

2306.5 A specific appraisal assignment may include multiple properties.

2306.6 A temporary license holder may extend the temporary license for one additional license period by filing an application for extension. If a temporary license holder requires an additional extension after the first the temporary license holder must apply for a new temporary license and the Board may grant or deny the second application at its discretion.

SOURCE: Final Rulemaking published at 40 DCR 8480 (December 10, 1993); as amended by Final Rulemaking published at 53 DCR 5846 (July 21, 2006); as amended by Final Rulemaking published at 55 DCR 9991 (September 26, 2008).