§ 12-10-616. Unlawful Acts – Penalties

1. It is unlawful for a person to:
   1. Violate section 12-10-613 (1)(c), (1)(e), or (1)(f) or perform a real estate appraisal without first having obtained a license or certificate from the board pursuant to this part 6;
   2. Accept a fee for an independent appraisal assignment that is contingent upon:
      1. Reporting a predetermined analysis, opinion, or conclusion; or
      2. The analysis, opinion, or conclusion reached; or
      3. The consequences resulting from the analysis, opinion, or conclusion;
   3. Misrepresent a consulting service as an independent appraisal; or
   4. Fail to disclose, in connection with a consulting service for which a contingent fee is or will be paid, the fact that a contingent fee is or will be paid.
2. [ Editor’s note: This version of subsection (2) is effective until March 1, 2022.] Any person who violates any provision of subsection (1) of this section commits a class 1 misdemeanor and shall be punished as provided in section 18-1.3-501. Any person who subsequently violates any provision of subsection (1) of this section within five years after the date of a conviction for a violation of subsection (1) of this section commits a class 5 felony and shall be punished as provided in section 18-1.3-401.

   (2) [ Editor’s note: This version of subsection (2) is effective March 1, 2022. ] Any person who violates any provision of subsection (1) of this section commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. Any person who subsequently violates any provision of subsection (1) of this section within five years after the date of a conviction for a violation of subsection (1) of this section commits a class 5 felony and shall be punished as provided in section 18-1.3-401.

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 682, § 1, effective October 1. L. 2021: (2) amended, (SB 21-271), ch. 462, p. 3153, § 136, effective March 1, 2022.

Editor’s note:

1. This section is similar to former § 12-61-716 as it existed prior to 2019.
2. Section 803(2) of chapter 462 (SB 21-271), Session Laws of Colorado 2021, provides that the act changing this section applies to offenses committed on or after March 1, 2022.