TITLE 5
Businesses and Professions

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

SECTION 5-20.9-6


§ 5-20.9-6. Retention of records. [Effective July 1, 2018.].

(a) Each appraisal management company shall maintain for five (5) years all business records, either in electronic or paper format, relating to each request for an appraisal service that the appraisal management company has received and to the appraiser who performs the appraisal service for the appraisal management company.

(b) The department may inspect these records periodically without prior notice and may also inspect these records whenever the department determines that they are pertinent to an investigation of any specific complaint against an appraisal management company.

(c) Each appraisal management company must notify the department in writing of any change of business name or address within ten (10) calendar days.

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