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    AI News Releases Aug 15, 2023

    AI Board of Directors Seeks Membership Input on Proposed Regulation Changes

    The Appraisal Institute Board of Directors voted during its Aug. 10-11 meeting to direct notice of proposed amendments to Regulation No. 2 regarding Admission to Residential Candidacy and SRA Membership for comment.
     
    The Board also voted to:
    • Adopt proposed amendments to Bylaws and Regulation No. 4 regarding Recognition for Life Designated Membership and to adopt a Designated Member Policy Manual.
    • Adopt proposed amendments to Regulation Nos. 2 and 3 regarding the Residential and Residential Review Experience Requirement.
    • Adopt proposed amendments to Regulation No. 10 regarding Designated Member Continuing Education Cycles.
    • Amend the Chapter Funding Policy for Candidates for Designation and Practicing Affiliates.
    • Approve the unification of the Chicago Chapter and the Northern Illinois Chapter.
    • Adopt the proposed 2024 budget.
    • Amend policy pertaining to maximum annual income for Designated Members with Practicing Semi-Retired status.
    Additionally, the Board elected the following individuals to committees:
    • Audit Committee- Reginald M. Carter, MAI, SRA, and Dale C. Cooper, MAI, SRA, AI-GRS, AI-RRS (term ending Dec. 31. 2024).
    • Compensation Committee- Jason L. Messner, MAI (term ending Dec. 31. 2024).
    • Professional Liability Insurance Program Committee- Donald S. Boucher Sr., SRA (term ending Dec. 31. 2024).
    • Strategic Planning Committee Chair- Robert R. Elliott Jr., MAI, SRA (term ending Dec. 31. 2024).
    • Strategic Planning Committee- Allen W. Gardiner, MAI, SRA (term ending Dec. 31. 2024).
    The next Appraisal Institute Board meeting is scheduled for Nov. 9-10 in Rosemont, Illinois.

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    The Appraisal Institute is the leading professional association of real estate appraisers. The Appraisal Institute’s Code of Professional Ethics and Standards of Professional Practice comprise requirements for ethical and competent practice, and advance equal opportunity and nondiscrimination in the appraisal profession. The Appraisal Institute’s work includes an array of professional education and advocacy programs, and stewardship of the highest level professional credentials in residential and commercial real estate appraisal.