§ 16-401
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/md/business-occupations-and-professions/16-401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§16–401.
(a)Subject to the provisions of subsection
(b)of this section, a licensed real estate appraiser shall keep, for 5 years from the date of delivery to the client, the original or a copy of:
(1)each contract the licensee enters into for the provision of real estate appraisal services;
(2)each appraisal report the licensee prepares or signs; and
(3)all supporting data that the licensee assembles or formulates to prepare an appraisal report.
(b)If, within the 5-year period for the retention of records, a licensed real estate appraiser is given notice that an appraisal or appraisal report is involved in litigation, a new 5-year period shall start on the date of the final disposition of the litigation.
(c)On request, a licensed real estate appraiser shall make any record required to be kept under this section available to the Commission to inspect or copy.