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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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BUSINESS OCCUPATIONS AND PROFESSIONS |
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TITLE 16. REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS. |
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SUBTITLE 5B. REAL ESTATE APPRAISAL MANAGEMENT COMPANIES |
§ 16-5B-07. Prohibited relationships
Latest version.
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An appraisal management company may not:
(1) knowingly employ a person in a position in which the person has the responsibility to order appraisals or to review completed appraisals who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state, unless the license or certificate was subsequently granted or reinstated;
(2) knowingly enter into an independent contractor arrangement for real estate appraisal services with a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state, unless the license or certificate was subsequently granted or reinstated; or
(3) knowingly enter into a contract, an agreement, or any other business relationship, for the purpose of obtaining real estate appraisal services, with an entity that employs, has entered into an independent contract arrangement with, or has entered into a contract, an agreement, or any other business relationship with a person who has ever had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state, unless the license or certificate was subsequently granted or reinstated.