La. Admin. Code tit. 46 § LXVII-30701

Current through Register Vol. 50, No. 12, December 20, 2024

Section LXVII-30701 - Improper Influence

A. Licensees shall not permit an agent, or anyone acting on behalf of the licensee, to engage in any of the following activities:

1. requiring the appraiser to collect the appraisal fee from a borrower, homeowner or third party;

2. requiring the appraiser to provide the appraisal management company with the appraiser's digital signature or seal;

3. altering, amending, or changing an appraisal report submitted by a licensed or certified appraiser by removing the appraiser's signature or seal or by adding or removing information to or from the appraisal report;

4. removing an independent appraiser from the appraisal management company's panel without prior written notice that includes supporting evidence that:

a. the appraiser has acted illegally;

b. the appraiser has violated the Uniform Standards of Professional Appraisal Practice, or other applicable state statutes or rules; or

c. the appraiser has had substandard performances or otherwise acted in an improper or unprofessional manner.

5. entering into agreements with independent appraisers, unless the appraisers are licensed as a Residential Certified Real Estate Appraiser or General Certified Real Estate Appraiser and in good standing with the Louisiana Real Estate Appraisers Board;

6. requesting an appraiser to provide an estimated, predetermined, or desired value in an appraisal report or to provide estimated values or comparable sales at any time before the appraisal report is completed;

7. committing an act or practice that impairs, or attempts to impair, an appraisers independence, objectivity or impartiality;

8. making referrals to Louisiana appraisers for appraisal services during any period in which the appraisal management company license has expired; or

9. requiring an appraiser to indemnify it or hold it harmless from any liability, damage, losses or claims arising out of the services provided by it. This prohibition shall not preclude indemnification agreements for services performed by the appraiser.

La. Admin. Code tit. 46, § LXVII-30701

Promulgated by the Office of the Governor, Real Estate Appraisers Board, LR 37:2408 (August 2011), Amended LR 42871 (6/1/2016).

AUTHORITY NOTE: Promulgated in accordance with R.S. 37:3415.1 et seq.