TO:                All members of the Arkansas Appraisers Association and Others
FROM:           Tom M. Ferstl., Exec. Secretary

RE:                General Comments and an Analysis of Act 454 of 2009

As most of you are aware, we were able to obtain the passage of Act 413 of 2009 (Prohibits Improperly Influencing an Appraiser) and worked with the Board to gain passage of Act 628 of 2009 (Arkansas Appraisal Management Company Act).

Both of these will serve to help all Arkansas practicing appraisers over the next few years and we have been recognized here in Arkansas as being on the forefront of progressive legislation to assist the appraisal community.  For those of you who are members of the Appraisers Association, you can refer to copies of these Acts in the members-only section of our web-site.

We expended a good deal of our reserves in hiring a lobbyist to help out in the past legislative session and need your 2010 dues to rebuild our funds to be prepared for the 2011 legislative session.

As always, I welcome your input for points that you want us to consider that would help you operate your appraisal business better.

NEXT:            There has been a material change in the way that you will have to operate in order to get a lien filed against property, if you are not paid for your appraisal services (Act 454 of 2009 - Amendment Concerning the Filing of Liens).  The Arkansas Appraisers Association did not file this Bill but we did get a few concessions that will help you later.  I will be developing a few forms that will be placed in the members-only section of our web-site, which you can utilize in filing and releasing liens for your appraisal services.

IMPORTANT NOTICE TO PROPERTY OWNERS

RESIDENTIAL PROPERTY LIENS: 4 or fewer units - must file notice as shown in the "Useful Forms and Documents" section of this website BEFORE you begin the appraisal work.

COMMERCIAL PROPERTY - any other type property - must send notice to property owner, owner's agent, or registered agent before 75 days has elapsed after the appraisal work was performed.

All service should be by registered mail (return receipt) or Fed-Ex type service. We strongly recommend Fed-Ex, as being much more reliable. The actual lien must be filed by 120 days of your last work on the appraisal report.

More on all of this will be following later, including suggested forms to use, just look on the members-only portion of our association web-site.

In accordance with our past policy of trying to keep the leadership spread throughout the state, our in-coming President for 2010-2011 will be Pam Bonds, MAI, CG-0336 of Texarkana. A big thank you to Charles Johnson for serving as President through the past 2 years and in particular, for attending every committee meeting during the passage of Acts 413 and 628 of 2009.

Tom. M. Ferstl
Executive Secretary
Arkansas Appraisers Association