{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-2022.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-2022.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-2022.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-2022.html"}],"law_id":85232,"edition_id":1,"section_id":85232,"structure_id":15246,"section_number":"54.1-2022","catch_line":"Appraisal management companies","history":"2010, c. 508; 2012, c. 405; 2013, c. 353.","full_text":"A\n\nAn appraisal management company shall not enter into any contracts or agreements with an independent appraiser for the performance of real estate appraisal services unless the independent appraiser is licensed to provide that service under § 54.1-2017 and as otherwise provided in Chapter 20.1 (§ 54.1-2009 et seq.).B\n\nThe appraisal management company shall not prohibit an appraiser from disclosing in the appraisal report the actual fees charged by an appraiser for appraisal services, and shall otherwise comply with any applicable requirements of federal law including the requirements of the United States Department of Housing and Urban Development.C\n\nNo employee, director, officer, or agent of an appraisal management company shall influence or attempt to influence the development, reporting, result, or review of a real estate appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner, including:1\n\nWithholding or threatening to withhold timely payment for a real estate appraisal report;2\n\nWithholding or threatening to withhold future business from a real estate appraiser or demoting or terminating or threatening to demote or terminate a real estate appraiser;3\n\nExpressly or impliedly promising future business, promotions, or increased compensation for a real estate appraiser;4\n\nConditioning the ordering of a real estate appraisal report or the payment of a real estate appraisal fee, salary, or bonus on the opinion, conclusion, or valuation to be reached or on a preliminary estimate requested from a real estate appraiser;5\n\nRequesting or requiring that a real estate appraiser provide an estimated, predetermined, or desired valuation in a real estate appraisal report or provide estimated values or comparable sales at any time before the appraiser’s completion of the appraisal report;6\n\nProviding to a real estate appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or targeted amount to be loaned to the borrower. However, a real estate appraiser may be provided with a copy of the sales contract for purchase transactions;7\n\nAllowing the removal of a real estate appraiser from a list of qualified appraisers used by any entity without prior written notice to the appraiser. The notice shall include written evidence of the appraiser’s illegal conduct, substandard performance, or otherwise improper or unprofessional behavior or any violation of the Uniform Standards of Professional Appraisal Practice or licensing standards for appraisers in the Commonwealth; or8\n\nAny other act or practice that impairs or attempts to impair a real estate appraiser’s independence, objectivity, or impartiality.D\n\nThe appraisal management company shall not engage in any of the following:1\n\nRequesting or requiring a real estate appraiser to collect a fee from the borrower, homeowner, or any other person in the provision of real estate appraisal services;2\n\nAltering, modifying, or otherwise changing a completed appraisal report submitted by an independent appraiser without the appraiser’s written knowledge and consent;3\n\nUse an appraisal report submitted by an independent appraiser for any other transaction, purpose or use other than for that which the appraisal was prepared; however, nothing in this section shall be construed as prohibiting an appraisal management company from providing a copy of the appraisal to a federal or state agency in the normal course of business or when providing a copy of the appraisal is otherwise required by law;4\n\nRequesting or requiring an appraiser to sign any indemnification agreement that would require the appraiser to defend and hold harmless the appraisal management company or any of its agents, employees or independent contractors for any liability, damage, losses, or claims arising out of the services performed by the appraisal management company or its agents, employees or independent contractors and not the services performed by the appraiser; or5\n\nRequesting or requiring an appraiser to provide the company with the appraiser’s digital signature or seal.E\n\nNothing in this section shall be construed as prohibiting an appraisal management company from requesting that a real estate appraiser:1\n\nConsider additional appropriate property information;2\n\nProvide further detail, substantiation, or explanation for the real estate appraiser’s value conclusion; or3\n\nCorrect errors in the real estate appraisal report.","order_by":null,"text":{"0":{"id":305445,"text":"An appraisal management company shall not enter into any contracts or agreements with an independent appraiser for the performance of real estate appraisal services unless the independent appraiser is licensed to provide that service under § 54.1-2017 and as otherwise provided in Chapter 20.1 (§ 54.1-2009 et seq.).","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":305446,"text":"The appraisal management company shall not prohibit an appraiser from disclosing in the appraisal report the actual fees charged by an appraiser for appraisal services, and shall otherwise comply with any applicable requirements of federal law including the requirements of the United States Department of Housing and Urban Development.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":305447,"text":"No employee, director, officer, or agent of an appraisal management company shall influence or attempt to influence the development, reporting, result, or review of a real estate appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner, including:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":305448,"text":"Withholding or threatening to withhold timely payment for a real estate appraisal report;","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":305449,"text":"Withholding or threatening to withhold future business from a real estate appraiser or demoting or terminating or threatening to demote or terminate a real estate appraiser;","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"C3"},"5":{"id":305450,"text":"Expressly or impliedly promising future business, promotions, or increased compensation for a real estate appraiser;","type":"section","prefixes":["C","3"],"prefix":"3","entire_prefix":"C3","prefix_anchor":"C3","level":2,"prior_prefix":"C2","next_prefix":"C4"},"6":{"id":305451,"text":"Conditioning the ordering of a real estate appraisal report or the payment of a real estate appraisal fee, salary, or bonus on the opinion, conclusion, or valuation to be reached or on a preliminary estimate requested from a real estate appraiser;","type":"section","prefixes":["C","4"],"prefix":"4","entire_prefix":"C4","prefix_anchor":"C4","level":2,"prior_prefix":"C3","next_prefix":"C5"},"7":{"id":305452,"text":"Requesting or requiring that a real estate appraiser provide an estimated, predetermined, or desired valuation in a real estate appraisal report or provide estimated values or comparable sales at any time before the appraiser’s completion of the appraisal report;","type":"section","prefixes":["C","5"],"prefix":"5","entire_prefix":"C5","prefix_anchor":"C5","level":2,"prior_prefix":"C4","next_prefix":"C6"},"8":{"id":305453,"text":"Providing to a real estate appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or targeted amount to be loaned to the borrower. However, a real estate appraiser may be provided with a copy of the sales contract for purchase transactions;","type":"section","prefixes":["C","6"],"prefix":"6","entire_prefix":"C6","prefix_anchor":"C6","level":2,"prior_prefix":"C5","next_prefix":"C7"},"9":{"id":305454,"text":"Allowing the removal of a real estate appraiser from a list of qualified appraisers used by any entity without prior written notice to the appraiser. The notice shall include written evidence of the appraiser’s illegal conduct, substandard performance, or otherwise improper or unprofessional behavior or any violation of the Uniform Standards of Professional Appraisal Practice or licensing standards for appraisers in the Commonwealth; or","type":"section","prefixes":["C","7"],"prefix":"7","entire_prefix":"C7","prefix_anchor":"C7","level":2,"prior_prefix":"C6","next_prefix":"C8"},"10":{"id":305455,"text":"Any other act or practice that impairs or attempts to impair a real estate appraiser’s independence, objectivity, or impartiality.","type":"section","prefixes":["C","8"],"prefix":"8","entire_prefix":"C8","prefix_anchor":"C8","level":2,"prior_prefix":"C7","next_prefix":"D"},"11":{"id":305456,"text":"The appraisal management company shall not engage in any of the following:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C8","next_prefix":"D1"},"12":{"id":305457,"text":"Requesting or requiring a real estate appraiser to collect a fee from the borrower, homeowner, or any other person in the provision of real estate appraisal services;","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"13":{"id":305458,"text":"Altering, modifying, or otherwise changing a completed appraisal report submitted by an independent appraiser without the appraiser’s written knowledge and consent;","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"D3"},"14":{"id":305459,"text":"Use an appraisal report submitted by an independent appraiser for any other transaction, purpose or use other than for that which the appraisal was prepared; however, nothing in this section shall be construed as prohibiting an appraisal management company from providing a copy of the appraisal to a federal or state agency in the normal course of business or when providing a copy of the appraisal is otherwise required by law;","type":"section","prefixes":["D","3"],"prefix":"3","entire_prefix":"D3","prefix_anchor":"D3","level":2,"prior_prefix":"D2","next_prefix":"D4"},"15":{"id":305460,"text":"Requesting or requiring an appraiser to sign any indemnification agreement that would require the appraiser to defend and hold harmless the appraisal management company or any of its agents, employees or independent contractors for any liability, damage, losses, or claims arising out of the services performed by the appraisal management company or its agents, employees or independent contractors and not the services performed by the appraiser; or","type":"section","prefixes":["D","4"],"prefix":"4","entire_prefix":"D4","prefix_anchor":"D4","level":2,"prior_prefix":"D3","next_prefix":"D5"},"16":{"id":305461,"text":"Requesting or requiring an appraiser to provide the company with the appraiser’s digital signature or seal.","type":"section","prefixes":["D","5"],"prefix":"5","entire_prefix":"D5","prefix_anchor":"D5","level":2,"prior_prefix":"D4","next_prefix":"E"},"17":{"id":305462,"text":"Nothing in this section shall be construed as prohibiting an appraisal management company from requesting that a real estate appraiser:","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D5","next_prefix":"E1"},"18":{"id":305463,"text":"Consider additional appropriate property information;","type":"section","prefixes":["E","1"],"prefix":"1","entire_prefix":"E1","prefix_anchor":"E1","level":2,"prior_prefix":"E","next_prefix":"E2"},"19":{"id":305464,"text":"Provide further detail, substantiation, or explanation for the real estate appraiser’s value conclusion; or","type":"section","prefixes":["E","2"],"prefix":"2","entire_prefix":"E2","prefix_anchor":"E2","level":2,"prior_prefix":"E1","next_prefix":"E3"},"20":{"id":305465,"text":"Correct errors in the real estate appraisal report.","type":"section","prefixes":["E","3"],"prefix":"3","entire_prefix":"E3","prefix_anchor":"E3","level":2,"prior_prefix":"E2"}},"ancestry":[{"id":15246,"edition_id":1,"name":"Real Estate Appraisal Management Companies","identifier":"20.2","label":"chapter","depth":3,"order_by":1,"parent_id":12755,"metadata":{},"date_created":"2026-06-26 03:53:16","date_modified":"2026-06-26 03:53:16","permalink":{"id":239885,"object_type":"structure","relational_id":15246,"identifier":"20.2","token":"54.1\/II\/20.2","url":"\/54.1\/II\/20.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12755,"edition_id":1,"name":"Professions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239415,"object_type":"structure","relational_id":12755,"identifier":"II","token":"54.1\/II","url":"\/54.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80792,"structure_id":15246,"section_number":"54.1-2020","catch_line":"Definitions","url":"\/54.1-2020\/","token":"54.1\/II\/20.2\/54.1-2020","metadata":false},{"id":63180,"structure_id":15246,"section_number":"54.1-2021","catch_line":"Exemptions","url":"\/54.1-2021\/","token":"54.1\/II\/20.2\/54.1-2021","metadata":false},{"id":58025,"structure_id":15246,"section_number":"54.1-2021.1","catch_line":"Appraisal management companies; license required; posting of bond or letter of credit","url":"\/54.1-2021.1\/","token":"54.1\/II\/20.2\/54.1-2021.1","metadata":false},{"id":85232,"structure_id":15246,"section_number":"54.1-2022","catch_line":"Appraisal management companies","url":"\/54.1-2022\/","token":"54.1\/II\/20.2\/54.1-2022","metadata":false},{"id":78188,"structure_id":15246,"section_number":"54.1-2022.1","catch_line":"Appraiser compensation","url":"\/54.1-2022.1\/","token":"54.1\/II\/20.2\/54.1-2022.1","metadata":false},{"id":83506,"structure_id":15246,"section_number":"54.1-2023","catch_line":"Penalty","url":"\/54.1-2023\/","token":"54.1\/II\/20.2\/54.1-2023","metadata":false}],"previous_section":{"id":58025,"structure_id":15246,"section_number":"54.1-2021.1","catch_line":"Appraisal management companies; license required; posting of bond or letter of credit","url":"\/54.1-2021.1\/","token":"54.1\/II\/20.2\/54.1-2021.1","metadata":false},"next_section":{"id":78188,"structure_id":15246,"section_number":"54.1-2022.1","catch_line":"Appraiser compensation","url":"\/54.1-2022.1\/","token":"54.1\/II\/20.2\/54.1-2022.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-2022\/","history_text":"

This law was first created in 2010. The record of its establishment is cataloged in chapter 508<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2012, chapter 405<\/a>; in 2013, chapter 353<\/a>.<\/p>","references":[{"id":65254,"section_number":"54.1-2011","catch_line":"Necessity for license","order_by":null,"url":"\/54.1-2011\/"}],"refers_to":[{"id":87406,"section_number":"54.1-2009","catch_line":"Definitions","order_by":null,"url":"\/54.1-2009\/"},{"id":59132,"section_number":"54.1-2017","catch_line":"Use of terms \"Licensed Residential Real Estate Appraiser,\" \"Certified Residential Real Estate Appraiser,\" and \"Certified General Real Estate Appraiser\"; authentication of reports","order_by":null,"url":"\/54.1-2017\/"}],"permalink":{"id":239899,"object_type":"law","relational_id":85232,"identifier":"54.1-2022","token":"54.1\/II\/20.2\/54.1-2022","url":"\/54.1-2022\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-2022\/","token":"54.1\/II\/20.2\/54.1-2022","dublin_core":{"Title":"Appraisal management companies","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-2022","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> An appraisal management company shall not enter into any contracts<\/span> or agreements with an independent appraiser for the performance of real estate appraisal services unless the independent appraiser is licensed to provide that service under § 54.1-2017<\/a> and as otherwise provided in Chapter 20.1 (§ 54.1-2009<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The appraisal management company shall not prohibit an appraiser from disclosing in the appraisal report the actual fees charged by an appraiser for appraisal services, and shall otherwise comply with any applicable requirements of federal law<\/span> including the requirements of the United States Department of Housing and Urban Development. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> No employee, director, officer, or agent of an appraisal management company shall influence or attempt to influence the development, reporting, result, or review of a real estate appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or in any other manner, including: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Withholding or threatening to withhold timely payment for a real estate appraisal report; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Withholding or threatening to withhold future business from a real estate appraiser or demoting or terminating or threatening to demote or terminate a real estate appraiser; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Expressly or impliedly promising future business, promotions, or increased compensation for a real estate appraiser; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Conditioning the ordering of a real estate appraisal report or the payment of a real estate appraisal fee, salary, or bonus on the opinion<\/span>, conclusion, or valuation to be reached or on a preliminary estimate requested from a real estate appraiser; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Requesting or requiring that a real estate appraiser provide an estimated, predetermined, or desired valuation in a real estate appraisal report or provide estimated values or comparable sales at any time before the appraiser’s completion of the appraisal report; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Providing to a real estate appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or targeted amount to be loaned to the borrower. However, a real estate appraiser may be provided with a copy of the sales contract<\/span> for purchase transactions; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Allowing the removal of a real estate appraiser from a list of qualified appraisers used by any entity without prior written notice to the appraiser. The notice shall include written evidence<\/span> of the appraiser’s illegal conduct, substandard performance, or otherwise improper or unprofessional behavior or any violation of the Uniform Standards of Professional Appraisal Practice or licensing standards for appraisers in the Commonwealth; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Any other act or practice that impairs or attempts to impair a real estate appraiser’s independence, objectivity, or impartiality. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The appraisal management company shall not engage in any of the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Requesting or requiring a real estate appraiser to collect a fee from the borrower, homeowner, or any other person in the provision of real estate appraisal services; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Altering, modifying, or otherwise changing a completed appraisal report submitted by an independent appraiser without the appraiser’s written knowledge and consent; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Use an appraisal report submitted by an independent appraiser for any other transaction, purpose or use other than for that which the appraisal was prepared; however, nothing in this section shall be construed as prohibiting an appraisal management company from providing a copy of the appraisal to a federal or state agency in the normal course of business or when providing a copy of the appraisal is otherwise required by law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Requesting or requiring an appraiser to sign any indemnification agreement that would require the appraiser to defend and hold harmless the appraisal management company or any of its agents, employees or independent contractors for any liability, damage, losses, or claims arising out of the services performed by the appraisal management company or its agents, employees or independent contractors and not the services performed by the appraiser; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Requesting or requiring an appraiser to provide the company with the appraiser’s digital signature or seal. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Nothing in this section shall be construed as prohibiting an appraisal management company from requesting that a real estate appraiser: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Consider additional appropriate property information; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Provide further detail, substantiation, or explanation for the real estate appraiser’s value conclusion; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Correct errors in the real estate appraisal report. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPRAISAL MANAGEMENT COMPANIES (\u00a7 54.1-2022)\n\nA. An appraisal management company shall not enter into any contracts or\nagreements with an independent appraiser for the performance of real estate\nappraisal services unless the independent appraiser is licensed to provide that\nservice under § 54.1-2017 and as otherwise provided in Chapter 20.1 (§\n54.1-2009 et seq.).\n\nB. The appraisal management company shall not prohibit an appraiser from\ndisclosing in the appraisal report the actual fees charged by an appraiser for\nappraisal services, and shall otherwise comply with any applicable requirements\nof federal law including the requirements of the United States Department of\nHousing and Urban Development.\n\nC. No employee, director, officer, or agent of an appraisal management company\nshall influence or attempt to influence the development, reporting, result, or\nreview of a real estate appraisal through coercion, extortion, collusion,\ncompensation, inducement, intimidation, bribery, or in any other manner,\nincluding:\n\n 1. Withholding or threatening to withhold timely payment for a real estate\n appraisal report;\n\n 2. Withholding or threatening to withhold future business from a real estate\n appraiser or demoting or terminating or threatening to demote or terminate a\n real estate appraiser;\n\n 3. Expressly or impliedly promising future business, promotions, or increased\n compensation for a real estate appraiser;\n\n 4. Conditioning the ordering of a real estate appraisal report or the payment\n of a real estate appraisal fee, salary, or bonus on the opinion, conclusion,\n or valuation to be reached or on a preliminary estimate requested from a real\n estate appraiser;\n\n 5. Requesting or requiring that a real estate appraiser provide an estimated,\n predetermined, or desired valuation in a real estate appraisal report or\n provide estimated values or comparable sales at any time before the\n appraiser’s completion of the appraisal report;\n\n 6. Providing to a real estate appraiser an anticipated, estimated, encouraged,\n or desired value for a subject property or a proposed or targeted amount to be\n loaned to the borrower. However, a real estate appraiser may be provided with\n a copy of the sales contract for purchase transactions;\n\n 7. Allowing the removal of a real estate appraiser from a list of qualified\n appraisers used by any entity without prior written notice to the appraiser.\n The notice shall include written evidence of the appraiser’s illegal\n conduct, substandard performance, or otherwise improper or unprofessional\n behavior or any violation of the Uniform Standards of Professional Appraisal\n Practice or licensing standards for appraisers in the Commonwealth; or\n\n 8. Any other act or practice that impairs or attempts to impair a real estate\n appraiser’s independence, objectivity, or impartiality.\n\nD. The appraisal management company shall not engage in any of the following:\n\n 1. Requesting or requiring a real estate appraiser to collect a fee from the\n borrower, homeowner, or any other person in the provision of real estate\n appraisal services;\n\n 2. Altering, modifying, or otherwise changing a completed appraisal report\n submitted by an independent appraiser without the appraiser’s written\n knowledge and consent;\n\n 3. Use an appraisal report submitted by an independent appraiser for any other\n transaction, purpose or use other than for that which the appraisal was\n prepared; however, nothing in this section shall be construed as prohibiting\n an appraisal management company from providing a copy of the appraisal to a\n federal or state agency in the normal course of business or when providing a\n copy of the appraisal is otherwise required by law;\n\n 4. Requesting or requiring an appraiser to sign any indemnification agreement\n that would require the appraiser to defend and hold harmless the appraisal\n management company or any of its agents, employees or independent contractors\n for any liability, damage, losses, or claims arising out of the services\n performed by the appraisal management company or its agents, employees or\n independent contractors and not the services performed by the appraiser; or\n\n 5. Requesting or requiring an appraiser to provide the company with the\n appraiser’s digital signature or seal.\n\nE. Nothing in this section shall be construed as prohibiting an appraisal\nmanagement company from requesting that a real estate appraiser:\n\n 1. Consider additional appropriate property information;\n\n 2. Provide further detail, substantiation, or explanation for the real estate\n appraiser’s value conclusion; or\n\n 3. Correct errors in the real estate appraisal report.\n\nHISTORY: 2010, c. 508; 2012, c. 405; 2013, c. 353.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}