61-2e-302 - Adherence to standards.
61-2e-302. Adherence to standards.
(1) An appraisal management company required to be registered under this chapter shallhave a system in place to review the work of an appraiser who performs a real estate appraisalactivity for the appraisal management company on a periodic basis to ensure that a real estateappraisal activity is conducted in accordance with applicable appraisal standards.
(2) As part of the registration process under Part 2, Registration, an appraisalmanagement company shall biennially provide an explanation of the system described inSubsection (1) in the form prescribed by the division.
Enacted by Chapter 269, 2009 General Session