The intent of the General Assembly in enacting this Act is to evaluate the competency of persons engaged in the appraisal of real estate and to license and regulate those persons for the protection of the public. Additionally, it is the intent of the General Assembly for this Act to be consistent with the provisions of Title XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
225 ILCS 458/1-5
Legislative intent
Known as the Real Estate Appraiser Licensing Act
The act spans §§ 225-458-1-1 to 225-458-1-5 (4 sections).
P.A. 102-687, eff. 12-17-21.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.