§ 62-39-413. License Requirement for Employees and Independent Contractors — Declining Letters of Engagement
Any employee or independent contractor of the appraisal management company who performs an appraisal review service on an appraisal done on real property located within Tennessee must be an individual who holds a license as defined in § 62-39-102 or certification as defined in § 62-39-102. Letters of engagement shall include instructions to the appraiser […]
§ 62-39-414. Biennial Certification of System and Process of Verification of Licensure of Individual Being Added to Appraiser Panel
Each appraisal management company seeking to be registered shall certify to the commission on a biennial basis on a form prescribed by the commission that the appraisal management company has a system and process in place to verify that an individual being added to the appraiser panel for appraisal services within Tennessee of the appraisal […]
§ 62-39-415. Biennial Certification of System and Process of Verification of Licensure of Individual to Whom Appraisal Management Company Is Making Assignments
Each appraisal management company seeking to be registered shall certify to the commission on a biennial basis on a form prescribed by the commission that the appraisal management company has a system in place to verify that an individual to whom the appraisal management company is making assignments for the completion of appraisals has not […]
§ 62-39-401. Short Title
This part shall be known and may be cited as the “Tennessee Appraisal Management Company Registration and Regulation Act.”
§ 62-39-402. Part Definitions
For purposes of this part, unless the context otherwise requires: “Affiliate” has the meaning provided in 12 U.S.C. § 1841; “AMC National Registry” means the registry of state-registered AMCs and federally regulated AMCs maintained by the appraisal subcommittee; “Appraisal” means the act or process of developing an opinion of value of identified real estate. That […]
§ 62-39-403. Registration Requirement
No person shall directly or indirectly engage or attempt to engage in business as an appraisal management company, to directly or indirectly engage or attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration issued by […]
§ 62-39-404. Applicability
This part shall not apply to: A national or state bank or federal or state savings institution that is subject to direct regulation or supervision by an agency of the United States government, or by the department of financial institutions, that receives a request for the performance of an appraisal from one (1) employee of […]
§ 62-39-405. Application for Registration
An applicant for a registration as an appraisal management company shall submit to the commission an application containing information required in § 62-39-403(b) on a form prescribed by the commission.