§ 32-3674 – Appraiser independence; prohibitions
32-3674. Appraiser independence; prohibitions A. Any employee, director, officer or agent of an appraisal management company registered pursuant to this article shall not influence or attempt to influence the development, reporting or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery or any other manner, including: 1. Withholding or threatening to withhold […]
§ 32-3675 – Payment
32-3675. Payment Except in cases of breach of contract or substandard performance of services, each appraisal management company shall make payment to an independent appraiser for the completion of an appraisal or valuation assignment within forty-five days after the date on which the independent appraiser transmits or otherwise provides the completed appraisal or valuation study […]
§ 32-3676 – Appraisal reports; alteration; use
32-3676. Appraisal reports; alteration; use An appraisal management company shall not: 1. Alter, modify, revise or otherwise change a completed appraisal report submitted by an independent appraiser, including removing the signature of the appraiser. 2. Use an appraisal report submitted by an independent appraiser for any purpose other than the intended use stated in the […]
§ 32-3677 – Review of disputes
32-3677. Review of disputes A. An appraisal management company shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real property appraisal services to an independent appraiser, without notifying the appraiser in writing of the reasons for the appraiser being removed from the appraiser panel of the appraisal management […]
§ 32-3662 – Registration
32-3662. Registration A. A person shall not directly or indirectly engage or attempt to engage in business as an appraisal management company, directly or indirectly perform or attempt to perform appraisal management services or advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration […]
§ 32-3678 – Censure, suspension or revocation; civil penalty
32-3678. Censure, suspension or revocation; civil penalty The deputy director may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this article or impose civil penalties not to exceed $15, 000 per violation if, in the opinion of the deputy director, an appraisal management company is attempting to perform, […]
§ 32-3663 – Exemptions
32-3663. Exemptions This article does not apply to: 1. A department or unit within a financial institution that is subject to direct regulation by an agency of the United States government or of this state and that receives requests for the performance of real estate appraisals from the financial institution and then assigns such requests […]
§ 32-3679 – Disciplinary hearings
32-3679. Disciplinary hearings A. The deputy director or an administrative law judge may conduct disciplinary proceedings in accordance with title 41, chapter 6, article 10. B. Before censuring any registrant, or suspending or revoking any registration, the deputy director shall notify the registrant in writing of any charges made at least forty-five days before the […]
§ 32-3664 – Registration forms
32-3664. Registration forms An applicant for initial and renewal registration as an appraisal management company shall submit to the deputy director an application on a form prescribed by the deputy director.
§ 32-3680 – Rulemaking authority
32-3680. Rulemaking authority The deputy director shall adopt rules that are reasonably necessary to implement, administer and enforce this article, including rules for obtaining copies of appraisals and other documents necessary to audit compliance with this article and rules requiring a surety bond to be posted with each application.