61-2e-104. Exemption.
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/ut/title-61/chapter-2e/61-2e-104A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/8/2018
61-2e-104. Exemption.
This chapter does not apply to:
(1)an entity that:
(a)exclusively employs an individual on an employer-employee basis for the performance of a real estate appraisal activity in the normal course of the entity's business;
(b)is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; and
(c)is a federally regulated appraisal management company;
(2)an individual who:
(a)is an appraiser; and
(b)in the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including:
(i)competency;
(ii)work load;
(iii)schedule; or
(iv)geographic location; or
(3)an individual who:
(a)in the normal course of business enters into an agreement, whether written or otherwise, with an appraiser for the performance of a real estate appraisal activity; and
(b)under the agreement, cosigns the report of the appraiser performing the real estate appraisal activity upon the completion of the real estate appraisal activity.
Amended by Chapter 213 , 2018 General Session