Sec. 2609.
An appraisal shall be in writing and shall do all of the following:
(a) Disclose any limitations on the type of analysis, valuation, or opinion.
(b) Be independently and impartially prepared and conform to the uniform standards of professional appraisal practice and any other standards adopted by the director.
(c) Include an opinion of defined value of adequately described real property as of a specific date and be supported by the presentation and analysis of relevant market information.
(d) Indicate on every appraisal report the license number and level of licensure of the appraiser.
History: Add. 1990, Act 269, Eff. July 1, 1991 ;-- Am. 1999, Act 170, Imd. Eff. Nov. 10, 1999 Popular Name: Act 299
Structure Michigan Compiled Laws
Chapter 339 - Occupational Code
Act 299 of 1980 - Occupational Code (339.101 - 339.2919)
Article 26 - (339.2601...339.2637)
Section 339.2601 - Definitions.
Section 339.2603 - Board of Real Estate Appraisers; Creation; Qualifications of Members.
Section 339.2605 - Uniform Standards of Professional Appraisal Practice; Rules; Use of Aqb Criteria.
Section 339.2607 - Prohibited Representations; Definitions; Authorized Appraisals.
Section 339.2609 - Appraisal; Requirements.
Section 339.2611 - Repealed. 2006, Act 414, Imd. Eff. Sept. 29, 2006.
Section 339.2613-339.2615 - Repealed. 2006, Act 414, Imd. Eff. Sept. 29, 2006.
Section 339.2617 - Rules Regulating Educational Courses; Courses; Compliance With Aqb Criteria.
Section 339.2621 - Repealed. 2006, Act 414, Imd. Eff. Sept. 29, 2006.
Section 339.2623 - Licensing Without Examination.
Section 339.2625 - Nonresident Licensing; Service of Process; Temporary Permit.
Section 339.2627 - Continuing Education Requirements.
Section 339.2629 - Repealed. 2009, Act 178, Imd. Eff. Dec. 15, 2009.
Section 339.2631 - Repealed. 1990, Act 269, Eff. Dec. 31, 1991.
Section 339.2633 - Duties of Licensee.
Section 339.2635 - Prohibited Conduct; Penalties; Complaint.