An appraisal management company must have a system in place to review the work of all employed and independent appraisers that are performing real estate appraisal assignments for the appraisal management company on a periodic basis to verify that the real estate appraisal services are being conducted in accordance with USPAP and chapter 82B. An appraisal management company is required to make referrals directly to state appraiser regulatory authorities when a state licensed or certified appraiser violates USPAP, applicable state law, or engages in other unethical or unprofessional conduct.
2010 c 347 art 6 s 20
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.