36-21B-12. Conduct not constituting improper influence on real estate appraisals.
No person violates §36-21B-11 solely by asking a real estate appraiser to consider additional, appropriate property information, or to provide further detail, substantiation, or explanation for the appraiser’s value conclusion, or to correct errors in the appraisal report, or by withholding payment of an appraisal fee based on a bona fide dispute regarding the appraiser’s compliance with the appraisal standards adopted by the Department of Labor and Regulation pursuant to this chapter. A person does not violate §36-21B-11 solely by retaining a real estate appraiser from panels or lists on a rotating basis, or by supplying an appraiser with information the appraiser is required to analyze under the appraisal standards adopted by the department, such as agreements of sale, options, or listings of the property to be valued.
Source: SL 2009, ch 192, §2; SL 2011, ch 1 (Ex. Ord. 11-1), §162, eff. Apr. 12, 2011.