TITLE 5
Businesses and Professions

CHAPTER 5-20.9
Real Estate Appraisal Management Company Registration Act [Effective July 1, 2018]

SECTION 5-20.9-15


§ 5-20.9-15. Adjudication of disputes between an appraisal management company and an appraiser. [Effective July 1, 2018.].

(a) Except within the first thirty (30) days after an independent appraiser is added to the appraiser panel of an appraisal management company, an appraisal management company may not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an independent appraiser without:

(1) Notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel of the appraisal management company, including the alleged statutory or USPAP violation, if any; and

(2) Providing an opportunity for the appraiser to respond to the notification of the appraisal management company.

(b) An appraiser that is removed from the appraiser panel of an appraisal management company for alleged illegal conduct, violation of the USPAP, or violation of state licensing statutes, may file a complaint with the department for a review of the decision of the appraisal management company. The review of the department in any such case is limited to determining whether the appraisal management company has complied with subsection (a) of this section and whether the appraiser has committed a violation of state law, state licensing standards, or a violation of the USPAP.

(c) If, after opportunity for hearing and review, the department determines that an appraisal management company acted improperly in removing an appraiser from the appraiser panel, or that an appraiser did not commit a violation of law, a violation of the USPAP, or a violation of state licensing standards, the department may order that an appraiser be restored to the appraiser panel of the appraisal management company that was the subject of the complaint, or impose any other administrative penalties set forth in regulations.

(d) Hearings will be conducted in accordance with § 5-20.9-17, chapter 35 of title 42, and the department's rules of procedure for administrative hearings.

History of Section.
(P.L. 2017, ch. 14, § 1; P.L. 2017, ch. 26, § 1.)