(a) It is a Class B misdemeanor for any person who is not licensed, registered, or certified under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., to perform appraisal services as defined in the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., in connection with a federally related transaction.
(b) An appraiser who does not hold an appraiser's classification that permits the performance of a particular appraisal assignment for use in federally related transactions must include in such an appraisal report a statement that the appraisal may not be eligible for use in a federally related transaction.
Structure Arkansas Code
Title 17 - Professions, Occupations, and Businesses
Subtitle 2 - Nonmedical Professions
Subchapter 3 - Licensing Restrictions
§ 17-14-301. Business entities — Eligibility for licensing
§ 17-14-302. License required — Membership in other organizations
§ 17-14-303. Unlicensed persons — Federally and nonfederally related transactions
§ 17-14-306. Additional licenses — Nonresidents
§ 17-14-307. Minimum qualifying requirements for registered appraiser
§ 17-14-308. Violation of law — Civil penalties, injunctions, and venue