Each registered appraisal management company shall certify to the commission on a biennial basis that it has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals in Tennessee for the appraisal management company to validate that the appraisals are being conducted in accordance with USPAP. An AMC shall report to the commission the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP, state laws or federal laws pertaining to appraisals.
Structure 2021 Tennessee Code
Title 62 - Professions, Businesses and Trades
Chapter 39 - State Licensing and Certified Real Estate Appraisers Law
Part 4 - Tennessee Appraisal Management Company Registration and Regulation Act
§ 62-39-405. Application for Registration
§ 62-39-406. Length of Validity of Registration
§ 62-39-407. Completion of Irrevocable Uniform Consent to Service of Process
§ 62-39-411. Appraisal Management Company Restrictions
§ 62-39-416. Biennial Certification of System for Periodic Appraisal Review
§ 62-39-420. Prohibited Requirements
§ 62-39-421. Payment Deadlines to Appraisers
§ 62-39-425. Grounds for Censure, Suspension or Revocation of Registration
§ 62-39-426. Adjudicatory Proceedings