Section 83.31 — Changes Subsequent To Registration.
83.31 CHANGES SUBSEQUENT TO REGISTRATION. Subdivision 1. Report of sales. The commissioner may by rule or order require the subdivider or subdivider’s agent to submit reports of sales. Subd. 2. Report of material changes. A subdivider or subdivider’s agent shall within 30 days report any material changes in the information contained in the application for […]
Section 83.32 — Inspection Of Records.
83.32 INSPECTION OF RECORDS. All records of a subdivider and the subdivider’s agents pertaining to the advertising or disposition of subdivided lands shall be maintained by the subdivider and the subdivider’s agents and be subject to inspection by the commissioner. The commissioner shall be promptly notified of any change of address affecting the location of […]
Section 82C.17 — Reasonable And Customary Fees.
82C.17 REASONABLE AND CUSTOMARY FEES. Subdivision 1. Fees. An appraisal management company shall compensate appraisers with fees that are reasonable and customary for appraisal services performed in the market area of the property being appraised. Subd. 2. Evidence. (a) An appraisal management company can evidence that the fees paid to an appraiser were reasonable and […]
Section 83.20 — Definitions.
83.20 DEFINITIONS. Subdivision 1. Advertisement. “Advertisement” means any written or printed communication or any communication by telephone or transmitted on radio, television, electronic means or similar communications media published in connection with the offer or sale of subdivided lands or any communication made to induce prospective purchasers to visit or attend an offer or sales […]
Section 83.21 — Commissioner Of Commerce To Administer.
83.21 COMMISSIONER OF COMMERCE TO ADMINISTER. Sections 83.20 to 83.42, 83.43 and 83.44 shall be administered by the commissioner of commerce. History: 1973 c 413 s 2; 1980 c 516 s 2; 1983 c 289 s 114 subd 1; 1984 c 452 s 6; 1984 c 655 art 1 s 92
Section 83.22 — Citation.
83.22 CITATION. Sections 83.20 to 83.42 may be cited as the “Minnesota Subdivided Land Sales Practices Act.” History: 1973 c 413 s 3
Section 82C.11 — Limitations.
82C.11 LIMITATIONS. An appraisal management company licensed in this state pursuant to this chapter may enter into contracts or agreements for appraisal assignments in this state only with an employee or independent appraiser holding an active Minnesota real estate appraiser license pursuant to chapter 82B. History: 2010 c 347 art 6 s 19
Section 82C.12 — Adherence To Standards.
82C.12 ADHERENCE TO STANDARDS. An appraisal management company must have a system in place to review the work of all employed and independent appraisers that are performing real estate appraisal assignments for the appraisal management company on a periodic basis to verify that the real estate appraisal services are being conducted in accordance with USPAP […]
Section 82C.13 — Record Keeping.
82C.13 RECORD KEEPING. An appraisal management company must maintain a detailed record of each service request that it receives and the employee appraiser or independent appraiser that performs the appraisal assignment for the appraisal management company. Records must be kept for a period of at least five years after the appraisal assignment request is sent […]
Section 82C.14 — Appraiser Independence; Prohibitions.
82C.14 APPRAISER INDEPENDENCE; PROHIBITIONS. (a) It is unlawful for any employee, director, officer, or agent of an appraisal management company licensed in this state pursuant to this chapter to influence or attempt to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, or bribery, including but not limited […]