§ 16-5B-12. Duty to report compliance failures and violations

Latest version.

   An appraisal management company shall inform the Commission when the appraisal management company has a reasonable basis to believe that:

   (1) an appraiser has:

      (i) failed to comply with the Uniform Standards of Professional Appraisal Practice;

      (ii) violated applicable laws; or

      (iii) engaged in unethical or unprofessional conduct; and

   (2) the appraiser's conduct under item (1) of this section is likely to affect the value assigned to the consumer's principal dwelling.

HISTORY: 2011, chs. 269, 270.

                    
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