This article does not apply to:
(1) A financial institution that is regulated by a federal financial institution regulatory agency or a department, division, or unit thereof. An appraisal management company that is a wholly owned subsidiary of a financial institution may not be considered a department, division, or unit within a financial institution.
(2) A person who enters into an agreement with an appraiser for the performance of an appraisal and, upon the completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the person who requested the completion of the appraisal.
Structure Code of Alabama
Title 34 - Professions and Businesses.
Chapter 27A - Real Estate Appraisers.
Article 2 - Real Estate Appraisal Management Companies.
Section 34-27A-50 - Registration Required.
Section 34-27A-51 - Application; Certificate of Registration.
Section 34-27A-52 - Limitations on Ownership and Employment.
Section 34-27A-53 - Principal Contact.
Section 34-27A-54 - Adoption of Rules; Revision of Requirements.
Section 34-27A-55 - Fees; Surety Bond; Renewal of Registration.
Section 34-27A-56 - Registration Numbers.
Section 34-27A-57 - Duties of Appraisal Management Company.
Section 34-27A-58 - Confirmation of Competency; When Payments Due.
Section 34-27A-59 - Removal of Appraiser From Appraiser Panel.
Section 34-27A-60 - Unlawful Influencing of Appraisal.
Section 34-27A-61 - Penalties.
Section 34-27A-62 - Adjudicatory Proceedings for Violations.