Code of Virginia § 54.1-2022.1. Appraiser compensation.
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/va/title-54-1/chapter-20-2/54-1-2022-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. An appraisal management company shall compensate appraisers in compliance with § 129E(i) of the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder.
B. Except in the case of breach of contract or noncompliance with the conditions of the engagement or performance of services that violates the Uniform Standards of Professional Appraisal Practice, an appraisal management company shall compensate the appraiser within 30 days of the initial delivery by the appraiser of the completed appraisal report.
2015, c. 422 ; 2017, c. 666 .