(A) An appraisal management company may not alter, modify, or otherwise change a completed appraisal report submitted by a licensed or certified independent appraiser without the appraiser's consent, except as necessary to comply with regulatory mandates or legal requirements.
(B) An appraisal management company may not use an appraisal report submitted by a licensed or certified independent appraiser, or any of the data or information contained therein, for any purpose other than its intended use without the appraiser's or the intended end user's consent, except as necessary to comply with regulatory mandates or legal requirements.
HISTORY: 2017 Act No. 32 (S.279), Section 1, eff May 10, 2017.
Editor's Note
2017 Act No. 32, Section 5, provides as follows:
"SECTION 5. This act takes effect upon approval by the Governor. In the event that a registration process is unavailable upon the effective date of this act, an appraisal management company already conducting business in this State may continue to conduct business until one hundred twenty days after a registration process becomes available."