An employee of the appraisal management company that has the responsibility to review the work of employed and independent appraisers where the subject properties are located within this state, which include the reviewer's opinion of value or concurrence with the original appraiser's value, must be licensed according to chapter 82B and perform the review assignments in compliance with USPAP and chapter 82B. This requirement does not apply to employees who review appraisals for completeness and compliance in connection with an appraisal management company's internal quality control processes, but who do not perform appraisal reviews that are subject to Standard 3 of USPAP.
2010 c 347 art 6 s 18
Structure Minnesota Statutes
Chapters 82 - 83 — Real Estate Sales Regulations
Chapter 82C — Appraisal Management Companies
Section 82C.025 — Appraiser Panel; Annual Size Calculation.
Section 82C.04 — Term Of License.
Section 82C.05 — License Renewal.
Section 82C.07 — Consent To Service Of Process.
Section 82C.08 — Licensing Fees.
Section 82C.09 — Investigations And Subpoenas.
Section 82C.10 — Employee Requirements.
Section 82C.12 — Adherence To Standards.
Section 82C.13 — Record Keeping.
Section 82C.14 — Appraiser Independence; Prohibitions.
Section 82C.16 — Denial, Suspension, Or Revocation Of Licenses.