Section 159.4 - Exemptions(a) This chapter does not apply to appraisal management services provided: (1) for the appraisal of: (A) commercial property; or(B) residential properties of more than four units; or(2) by persons exempted under §1104.004, the AMC Act.(b) For the purposes of §1104.004 of the AMC Act:(1) a person exclusively employs appraisers on an employer and employee basis for the performance of appraisals if the person does not also employ appraisers as independent contractors or under any other arrangement;(2) a person employs not more than 15 appraisers on an exclusive basis as independent contractors for the performance of appraisals if: (A) the person prohibits the independent contractors from performing appraisals for others; and(B) the person does not employ more than 15 appraisers as independent contractors at any time;(3) a subsidiary of a financial institution is not a department or unit within the institution;(4) an AMC that requires an employee of the AMC who is an appraiser who provided no significant real property appraisal assistance to sign an appraisal that is completed by another appraiser who contracts with the AMC, is not exempt from the registration requirement or other requirements of the AMC Act; and(5) an AMC has an appraisal panel of not more than 15 appraisers at all times during a calendar year if: (A) the AMC does not have more than 15 appraisers on its panel at any time; and(B) an appraiser who has been removed from the AMC's panel is not added back to the panel within 12 months after the date of removal.(c) A person may solicit prospective panelists in anticipation of acting as an AMC without being registered as an AMC, provided that it is registered prior to forming a panel, accepting an appraisal assignment, or performing any other act constituting an appraisal management service.(d) For the purposes of the AMC Act, a property is located in Texas if it is located wholly or partly in the state.22 Tex. Admin. Code § 159.4
The provisions of this §159.4 adopted to be effective November 3, 2011, 36 TexReg 7320; amended by Texas Register, Volume 39, Number 50, December 12, 2014, TexReg 9668, eff. 12/14/2014; Amended by Texas Register, Volume 42, Number 49, December 8, 2017, TexReg 6925, eff. 12/10/2017