Sec. 08.87.215. Prohibited practices; real estate appraisal management companies.

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A real estate appraisal management company may not, while registered in the state, retain or enter into a business relationship with an employee, contractor, or agent whose certificate to act as a real estate appraiser is denied, cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending revocation in any state unless the employee, contractor, or agent has later had a certificate to act as a real estate appraiser granted or reinstated by the same state.

(b)A real estate appraisal management company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company may not

(1)seek to influence a real estate appraiser through intimidation, coercion, extortion, or bribery;

(2)condition payment of an appraisal fee on a real estate appraiser's opinion, conclusion, or valuation;

(3)request that a real estate appraiser report a predetermined opinion, conclusion, or valuation;

(4)alter, amend, or change an appraisal report submitted by a real estate appraiser without the real estate appraiser's written consent;

(5)require a real estate appraiser to sign an indemnification agreement for a claim that does not arise from a service performed by the real estate appraiser;

(6)prohibit an appraiser from recording in the body of the report submitted by the appraiser to the appraisal management company the fee that the appraiser was paid by the company for the performance of the appraisal;

(7)prohibit lawful communication between a real estate appraiser and any other person who the real estate appraiser determines possesses information relevant to the appraisal;

(8)engage in an act or practice with intent to impair a real estate appraiser's independence, objectivity, and impartiality;

(9)knowingly make a false statement, submit false information, or fail to provide complete information in response to a question in an application for registration or renewal of a registration; or

(10)violate this chapter or a regulation adopted under this chapter.