REPORT TITLE:
Personal Property Appraisers


DESCRIPTION:
Requires that persons performing personal property appraisals in
a probate proceeding have specific accreditation or
certification.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           2225
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO PERSONAL PROPERTY APPRAISERS. 


BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that personal property
 
 2 appraisers perform an important and valuable service in the
 
 3 settlement and distribution of a decedent's estate by
 
 4 establishing the fair market value of property subject to
 
 5 probate.  The purpose of this Act is to insure that personal
 
 6 property appraisers employed in probate proceedings have the
 
 7 necessary qualifications and expertise to perform an appraisal by
 
 8 requiring that they have professional accreditation or
 
 9 certification.
 
10      SECTION 2.  Section 560:3-707, Hawaii Revised Statutes, is
 
11 amended to read as follows:
 
12      "�560:3-707  Employment of appraisers.  The personal
 
13 representative may employ a qualified and disinterested
 
14 appraiser, who shall be accredited or certified by the
 
15 International Society of Appraisers, American Society of
 
16 Appraisers, American Gem Society, National Association of Jewelry
 
17 Appraisers, or Accredited Gemologists Association, to assist in
 
18 ascertaining the fair market value as of the date of the
 
19 decedent's death of any asset the value of which may be subject
 

 
Page 2                                                     
                                     S.B. NO.           2225
                                                        
                                                        

 
 1 to reasonable doubt.  Different persons may be employed to
 
 2 appraise different kinds of assets included in the estate[.];
 
 3 provided that the persons employed are appraisers accredited or
 
 4 certified by the International Society of Appraisers, American
 
 5 Society of Appraisers, American Gem Society, National Association
 
 6 of Jewelry Appraisers, or Accredited Gemologists Association.
 
 7 The names [and], addresses, and accreditation or certification
 
 8 credentials issued by the International Society of Appraisers,
 
 9 American Society of Appraisers, American Gem Society, National
 
10 Association of Jewelry Appraisers, or Accredited Gemologists
 
11 Association, of any appraiser shall be indicated on the inventory
 
12 with the item or items appraised."
 
13      SECTION 3.  Statutory material to be repealed is bracketed.
 
14 New statutory material is underscored.
 
15      SECTION 4.  This Act shall take effect upon its approval.
 
16 
 
17                           INTRODUCED BY:  _______________________