543E.11 Appraiser, appraisal review, and employee restrictions.
1. The following individuals shall not have had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of revocation in any state for a substantive reason, but may have had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of revocation in a state for a nonsubstantive reason if the license or certificate was subsequently granted or reinstated:
a. An appraiser in an appraisal management company’s appraiser panel who performs or may perform appraisals of real estate located in this state.
b. An employee, independent contractor, or other agent of an appraisal management company who performs an appraisal review of an appraisal of real estate located in this state.
c. An employee, independent contractor, or other agent of an appraisal management company who, with respect to real estate located in this state, has any responsibility for assigning appraisers to specific appraisal assignments, providing quality control for appraisal reports, or communicating with appraisers regarding potential appraisal report deficiencies.
2. An appraiser who on behalf of an appraisal management company performs an appraisal review of an appraisal of a dwelling located in this state shall comply with the review provisions of the uniform standards of professional appraisal practice, and shall be certified as an appraiser under the laws of any state, except that a review appraiser shall be certified under chapter 543D if such certification is required by any applicable state or federal law, rule, or regulation, or to the extent the review appraiser provides the review appraiser’s own opinion of value, concurs with the original appraiser’s opinion of value, or disagrees with the original appraiser’s opinion of value.
3. An appraisal management company may rely on the national registry of appraisers of the appraisal subcommittee for purposes of verifying compliance with this section.
2016 Acts, ch 1124, §11, 32
Structure Iowa Code
Chapter 543E - REAL ESTATE APPRAISAL MANAGEMENT COMPANIES
Section 543E.2 - Purpose and scope.
Section 543E.4 - Registration required.
Section 543E.6 - Ownership — restrictions and requirements.
Section 543E.7 - Designation of controlling person.
Section 543E.8 - Registration — application requirements.
Section 543E.9 - Registration renewal.
Section 543E.11 - Appraiser, appraisal review, and employee restrictions.
Section 543E.12 - Adherence to standards — mandatory reporting.
Section 543E.13 - Recordkeeping — payment.
Section 543E.14 - Appraiser independence — compensation.
Section 543E.15 - Prohibited acts.
Section 543E.16 - Display of registration number.
Section 543E.17 - Grounds for disciplinary action.
Section 543E.18 - Unlawful practice — complaints and investigations — remedies and penalties.