(225 ILCS 458/20-10)
(Section scheduled to be repealed on January 1, 2022)
(a) Only courses offered by licensed education providers and approved
by the Department, courses approved by the AQB, or courses approved by jurisdictions regulated by the Appraisal Subcommittee
shall be used to meet the requirements of this Act and rules.
(b) An education provider licensed under this Act may submit courses to the Department, or through a multi-state licensing system as designated by the Secretary,
The criteria, requirements, and fees for courses shall be established
by rule in accordance with
this Act and the criteria established by the AQB.
(c) For each course approved, the Department
shall issue a license to the education
provider. The term, expiration date, and renewal of a course approval shall
established by rule.
(d) An education provider must use an instructor for each course approved by the Department who (i) holds a valid real estate appraisal license in good standing as a State certified general real estate appraiser or a State certified residential real estate appraiser in Illinois or any other jurisdiction monitored by the Appraisal Subcommittee, (ii) holds a valid teaching certificate issued by the State of Illinois, (iii) is a faculty member in good standing with an accredited college or university or community college, or (iv) is an approved appraisal instructor from an appraisal organization that is a member of the Appraisal Foundation.
(Source: P.A. 100-604, eff. 7-13-18.)