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Statutes Text

Article - Business Occupations and Professions




§16–5B–17.

    (a)    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 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;

        (2)    identifying the illegal conduct, violation of the Uniform Standards of Professional Appraisal Practice, violation of State licensing standards, or substandard performance or violations of contractual terms between the appraiser and the appraisal management company that the appraisal management company has a reasonable basis to believe that the appraiser has engaged in; and

        (3)    providing an opportunity for the appraiser to respond.

    (b)    (1)    An appraiser that is removed from the appraiser panel of an appraisal management company for alleged illegal conduct, a violation of the Uniform Standards of Professional Appraisal Practice, or a violation of State licensing standards may file a complaint with the Commission for a review of the decision of the appraisal management company.

        (2)    The Commission’s review under paragraph (1) of this subsection is limited to determining whether:

            (i)    the appraisal management company has complied with subsection (a) of this section; and

            (ii)    the appraiser has committed a violation of:

                1.    State law; or

                2.    the Uniform Standards of Professional Appraisal Practice.

    (c)    (1)    If an appraiser files a complaint against an appraisal management company under subsection (b) of this section, the Commission shall schedule a hearing within a reasonable time, not exceeding 1 year, after the complaint is filed.

        (2)    The time specified under paragraph (1) of this subsection may be extended for good cause by the Commission on written notice to the parties.

    (d)    If after opportunity for hearing and review, the Commission 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 State law or a violation of the Uniform Standards of Professional Appraisal Practice, the Commission shall order that an appraiser be restored to the appraiser panel of the appraisal management company that was the subject of the complaint.

    (e)    If the Commission finds that the appraisal management company acted improperly in removing the appraiser from the appraiser panel, an appraisal management company may not:

        (1)    reduce the number of real estate appraisal assignments the company gives to an appraiser; or

        (2)    penalize the appraiser in any other manner.