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    AI News Releases Feb 28, 2023

    AI Board of Directors Adopts Two 45-Day Notice Items During February Meeting

    The Appraisal Institute Board of Directors voted to adopt two 45-Day Notice items during its Feb. 22-23 meeting in San Antonio, Texas.  

    The first 45-Day Notice item addresses proposed amendments to AI Bylaws regarding Audit Committee member service as set forth in the 45-Day Notice distributed to Designated Members, Candidates, Practicing Affiliates and Affiliates on Jan. 6, and was adopted with amendments. The second 45-Day Notice item addresses proposed amendments to AI Bylaws regarding Compensation Committee member service that also was distributed to those individuals on that date. 

    The Board also: 

    • Directed to 45-Day Notice proposed amendments to the Bylaws and Regulation Nos. 7, 8 and 9 regarding eligibility to serve at the national, regional and chapter levels.  

    • Directed to 45-Day Notice proposed amendments to the Bylaws and Regulation No. 4 regarding Life Membership.  

    • Voted to create an annual William S. Harps DEI Award to recognize an AI professional who exemplifies the value of diversity, equity and inclusion within the valuation profession and has contributed to making the profession reflective of all the communities we serve.  

    • Approved the appointment of Pledger M. (Jody) Bishop III, MAI, SRA, AI-GRS, as chair of the Demonstration of Knowledge Grading Panel through Dec. 31. 

    • Voted to amend National Nominating Committee Policies and Procedures. 

    • Voted to adopt the proposed election and voting model for Audit Committee members recommended by the Audit Committee Best Practices Project Team. 

    • Voted to not hold an Annual Conference in 2024. 

    • Voted to amend Regulation No. 7 to establish a Residential Appraiser Committee. 

    The next Appraisal Institute Board meeting is scheduled for May 11-12. 

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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.