Sec. 08.87.145. Statement of fees.
(a) When reporting to a borrower, an appraisal management company shall separately state the fees (1) paid to an appraiser for the completion of an appraisal; and (2) charged to the borrower for appraisal management services by the appraisal management company. (b) An appraisal management company may not include any fees for appraisal services listed […]
Sec. 08.87.150. Retention of records and inspection.
A registered real estate appraisal management company or a real estate appraisal management company that has applied for registration shall allow the board to inspect and shall retain, for not less than the later of either five years after the date a file is submitted to the company or two years after final disposition of […]
Sec. 08.87.155. Reporting requirements for federally regulated real estate appraisal management companies.
(a) A real estate appraisal management company that is owned and controlled by an insured depository institution as defined in 12 U.S.C. 1813 and regulated by the United States Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation, shall annually submit to the board information […]
Sec. 08.87.160. Exemptions.
AS 08.87.130 – 08.87.150, 08.87.215, and 08.87.220 do not apply to a (1) person who is employed by a department or division of an entity that provides appraisal management services only to that entity; (2) real estate appraisal management company that is (A) owned and controlled by an insured depository institution; and (B) regulated by […]
Sec. 08.87.200. Prohibited practices.
A certified real estate appraiser may not (1) act negligently or incompetently or fail without good cause to exercise reasonable diligence in developing an appraisal, preparing an appraisal report, or communicating an appraisal; (2) wilfully disregard or violate a provision of this chapter or of a regulation adopted by the board under this chapter; (3) […]
Sec. 08.87.210. Disciplinary proceedings.
The board may exercise its disciplinary powers under AS 08.01.075 if, after hearing, the board finds a certified real estate appraiser has (1) violated a provision of this chapter or a regulation adopted by the board under this chapter; (2) been convicted of a crime that involves moral turpitude; or (3) committed, while acting as […]
Sec. 08.87.215. Prohibited practices; real estate appraisal management companies.
(a) A real estate appraisal management company may not, while registered in the state, retain or enter into a business relationship with an employee, contractor, or agent whose certificate to act as a real estate appraiser is denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation in any state […]
Sec. 08.87.220. Disciplinary proceedings; real estate appraisal management companies.
The board may take disciplinary action under AS 08.01.075 or suspend or revoke a registration of a real estate appraisal management company if it finds that the (1) company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company has violated a provision of this chapter or a regulation […]
Sec. 08.87.300. Retention of records.
(a) A certified real estate appraiser shall retain copies of all written contracts engaging the appraiser’s services for real property appraisal work, and all reports and supporting data assembled and formulated by the appraiser in preparing the reports, for at least five years after the date of the contract engaging the appraiser’s services, five years […]
Sec. 08.87.310. Trainee appraiser; supervisory appraiser.
The board may establish requirements for trainee appraisers and supervisory appraisers. The board shall ensure that the requirements conform with 12 U.S.C. 3345.