Maryland Statutes
Subtitle 5B - Real Estate Appraisal Management Companies
Section 16-5B-12 - Duty to Report Compliance Failures and Violations

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.

Structure Maryland Statutes