(a) Each appraisal management company seeking to be registered or to renew an existing registration in the District shall certify to the Department on a form prescribed by the Department that the company maintains a detailed record of each service request that the company receives for appraisals of real property located in the District.
(b) An appraisal management company registered in the District shall retain all records required to be maintained under this chapter for at least 5 years after the file is submitted to the appraisal management company or for at least 2 years after final disposition of any related judicial proceeding of which the appraisal management company is provided notice, whichever period expires later.
(c) All records required to be maintained by the registered appraisal management company shall be made available for inspection by the Department on reasonable notice to the appraisal management company.
(Mar. 16, 2021, D.C. Law 23-206, § 108, 68 DCR 00057.)
Emergency LegislationFor temporary (90 days) creation of this section, see § 108 of Appraisal Management Company Regulation Emergency Act of 2019 (D.C. Act 23-110, July 31, 2019, 66 DCR 178).
Temporary LegislationFor temporary (225 days) creation of this section, see § 108 of Appraisal Management Company Regulation Temporary Act of 2020 (D.C. Law 23-140, Oct. 20, 2020, 67 DCR 9891).