Okla. Stat. tit. 59, § 59-858-703

As used in the Oklahoma Certified Real Estate Appraisers Act:

1. "Appraisal" or "real estate appraisal" means an analysis,

opinion or conclusion relating to the nature, quality, value or

utility of specified interests in, or aspects of, identified real

estate other than oil, gas, coal, water and all other energy and

nonfuel mineral and elements or the value of underground space to be

used for storage of commodities or for the disposal of waste unless

they are appraised as part of a federally related transaction

covered by the Financial Institutions Reform, Recovery, and

Enforcement Act of 1989. An appraisal may be classified by subject

matter into either a valuation or an analysis. A "valuation" is an

estimate of the value of real estate or real property. An

"analysis" is a study of real estate or real property other than

estimating value;

2. "Appraisal report" means any written or oral communication

of an appraisal;

3. "Appraisal Subcommittee" means the subcommittee created by

Title XI of the Financial Institutions Reform, Recovery, and

Enforcement Act of 1989;

4. "Appraiser Qualifications Board" (AQB) means the independent

board appointed by the Board of Trustees of the Appraisal

Foundation. The AQB establishes educational, experience, and

examination criteria for appraisers. Title XI of the Financial

Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989

requires that state certified appraisers must meet the minimum

qualifications set by the AQB;

5. "Board" means the Real Estate Appraiser Board established

pursuant to the provisions of the Oklahoma Certified Real Estate

Appraisers Act;

6. "Certification" shall refer to either a trainee appraiser, a

state licensed appraiser, a state certified residential appraiser or

a state certified general appraiser;

7. "Certified appraisal or certified appraisal report" means an

appraisal or appraisal report given or signed and certified as such

by a trainee appraiser, a state licensed, state certified

residential or state certified general real estate appraiser. When

Oklahoma Statutes - Title 59. Professions and Occupations Page 753

identifying an appraisal or appraisal report as "certified", the

trainee, state licensed, state certified residential or state

certified general real estate appraiser must indicate which type of

certification is held. A certified appraisal or appraisal report

represents to the public that it meets the appraisal standards

defined in the Oklahoma Certified Real Estate Appraisers Act;

8. "Chairperson" means the chairperson of the Real Estate

Appraiser Board;

9. "Department" means the Insurance Department;

10. "Director" means the individual employed by the Board who

is responsible for supervising the regulation of appraiser and

appraisal management companies' credentialing and enforcement

programs; serves as liaison between the Board and other state and

federal entities and professional organizations; directs and

coordinates the day-to-day operations of the Board including

training staff, budgeting and ensuring adherence to the Oklahoma

Open Meeting Act and the Oklahoma Open Records Act;

11. "Real estate" means an identified parcel or tract of land

including improvements, if any;

12. "Real property" means one or more defined interests,

benefits, and rights inherent in the ownership of real estate;

13. "Trainee, state licensed, state certified residential or

state certified general real estate appraiser" means a person who

develops and communicates real estate appraisals and who holds a

current, valid certificate issued to such person for either general

or residential real estate pursuant to provisions of the Oklahoma

Certified Real Estate Appraisers Act;

14. "Appraisal assignment" means an engagement for which an

appraiser is employed or retained to act, or would be perceived by

third parties or the public as acting, as a disinterested third
tate appraisals and who holds a

current, valid certificate issued to such person for either general

or residential real estate pursuant to provisions of the Oklahoma

Certified Real Estate Appraisers Act;

14. "Appraisal assignment" means an engagement for which an

appraiser is employed or retained to act, or would be perceived by

third parties or the public as acting, as a disinterested third

party in rendering an unbiased analysis, opinion or conclusion

relating to the nature, quality, value or utility of specified

interests in, or aspects of, identified real estate; and

15. "Specialized services" means those appraisal services which

do not fall within the definition of appraisal assignment. The term

"specialized services" may include valuation work and analysis work.

Regardless of the intention of the client or employer, if the

appraiser would be perceived by third parties or the public as

acting as a disinterested third party in rendering an unbiased

analysis, opinion or conclusion, the work is classified as an

appraisal assignment and not "specialized services".