339.537. Records to be retained, retention period--availability of records for appraisers, when, cost.
Records to be retained, retention period--availability of recordsfor appraisers, when, cost.
339.537. State-certified real estate appraisers and state licensed realestate appraisers shall retain originals or true copies of contracts engagingan appraiser's services for appraisal assignments, specialized appraisalservices, appraisal reports, and supporting data assembled and formulated inpreparing appraisal reports, for five years. The period for retention of therecords applicable to each engagement of the services of the state-certifiedreal estate appraiser or state-licensed real estate appraiser shall run fromthe date of the submission of the appraisal report to the client. Uponrequests by the commission, these records shall be made available by thestate-certified real estate appraiser or state-licensed real estate appraiserfor inspection and copying at his or her expense, by the commission onreasonable notice to the state-certified real estate appraiser orstate-licensed real estate appraiser. When litigation is contemplated at anytime, reports and records shall be retained for two years after the finaldisposition.
(L. 1990 H.B. 1456 § 20, A.L. 2003 S.B. 327)