Section 1103.405 - Professional Standards(a) Except as provided by Subsection (b), a person who holds a certificate, license, or registration issued under this chapter shall comply with: (1) the most current edition of the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation; or(2) other standards provided by board rule that are at least as stringent as the Uniform Standards of Professional Appraisal Practice.(b) A certified or licensed appraiser is not required to comply with the standards described by Subsection (a) to provide:(1) an evaluation of real property described by Section 1103.004(4); or(2) an analysis, assessment, opinion, conclusion, notation, or compilation of data concerning the value of an interest in real property described by Section 1103.004(5) for use by a non-bank financial institution.(c) A document provided under Section 1103.004(4) or (5) must contain on the first page of the document the following notice: "This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice."Tex. Occ. Code § 1103.405
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 700,Sec. 3, eff. 6/15/2021.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 950,Sec. 45, eff. 1/1/2016.Added by Acts 2005, 79th Leg., Ch. 703, Sec. 20, eff. 9/1/2005.