Section 16-5B-12 - Duty to report compliance failures and violationsAn appraisal management company shall inform the Commission when the appraisal management company has a reasonable basis to believe that:
(1) an appraiser has: (i) failed to comply with the Uniform Standards of Professional Appraisal Practice;(ii) violated applicable laws; or(iii) engaged in unethical or unprofessional conduct; and(2) the appraiser's conduct under item (1) of this section is likely to affect the value assigned to the consumer's principal dwelling.