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August 12, 2020

AI Board of Directors Approves 45-Day Notice Item on Agenda During August Meeting

The Appraisal Institute Board of Directors adopted one 45-Day Notice item on its agenda during its Aug. 6-7 meeting, which was conducted via videoconference due to the coronavirus pandemic.
 
The Board adopted the proposed amendments to Appraisal Institute Regulation No. 4 regarding streamlining the requirements for readmission to Designated Membership. The 45-Day Notice was distributed to Appraisal Institute professionals June 22. 
 
The Board also voted to send to 45-Day Notice proposed amendments to the Appraisal Institute Bylaws regarding the Audit Committee. Additionally, a project team will be created to study potential changes to Appraisal Institute Bylaws, policies and procedures regarding the nomination and election process for vice president.  
 
In other actions, the AI Board of Directors:
  • Approved the merger of the Great Plains Chapter and the Green Mountain Ozark Chapter, which will now be called the Oklahoma Ozark Chapter.
  • Approved the merger of the Upstate New York Chapter and the Western NY/Ontario Chapter, which will now be called the Upstate New York Chapter.
The Board also:
  • Referred proposed amendments to Regulation Nos. 1-3 pertaining to the College Degree Requirement that were included in the 45-Day Notice sent to Appraisal Institute professionals on June 22 back to the Admissions and Designation Qualifications Committee for further clarification.
  • Voted to distribute an Exposure Draft of a proposed Guide Note concerning compliance with the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute.
  • Amended Regulation No. 9, giving regions the option to hold required quarterly meetings in person or via interactive technology.
  • Retired Guide Note 5, “Appraisals of Real Estate with Related Personal Property, Business Property or Intangible Assets.”
  • Created an annual Women’s Initiative SPOTLIGHT Award.
The following Appraisal Institute Designated Members were elected to the committees noted below:
  • Audit Committee: Robert L. Moorman, MAI, SRA, AI-GRS; Elaine Liz-Ramirez, MAI, AI-GRS; and Steven G. Stiloski, MAI (Jan. 1, 2021 to Dec. 31, 2022 terms).
  • Professional Liability Insurance Program Committee: Byron E. Miller, SRA, AI-RRS (Jan. 1, 2021 to Dec. 31, 2023 term).
  • Strategic Planning Committee: Linda M. Powers, MAI (Jan. 1, 2021 to Dec. 31, 2022 term).
The Board’s next meeting is scheduled for Nov. 12-13 in Chicago.
 

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