The Commission shall adopt regulations that prescribe the standards for education and experience required for the issuance of a certificate or license. Until the Commission adopts those regulations, the standards are as follows:

1. An applicant for a license as a residential appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:

(a) Not less than 90 hours of academic instruction in subjects related to appraisals taught in courses approved by the Commission; and

(b) At least 2 years of experience working full-time as an appraiser or intern.

2. An applicant for a certificate as a residential appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:

(a) Not less than 120 hours of academic instruction in subjects related to appraisal taught in courses approved by the Commission; and

(b) At least 2 years of experience working full-time as an appraiser or intern, including not less than 500 hours of experience relating to complex property.

3. An applicant for a certificate as a general appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:

(a) Not less than 180 hours of academic instruction in subjects related to appraisals taught in courses approved by the Commission; and

(b) At least 3 years of experience working full-time as an appraiser or intern.

As used in this section, an “hour of academic instruction” means at least 50 minutes of actual time spent receiving instruction.

(Added to NRS by 1989, 826; A 1991, 891; 1993, 813; 1997, 300; 2005, 1295)