Utah Code § 61-2e-104

Current through the 2024 Fourth Special Session

Section 61-2e-104 - Exemption

This chapter does not apply to:

(1) an entity that:

(a) exclusively employs an individual on an employer-employee basis for the performance of a real estate appraisal activity in the normal course of the entity's business;

(b) is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; and

(c) is a federally regulated appraisal management company;

(2) an individual who:

(a) is an appraiser; and

(b) in the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including:

(i) competency;

(ii) work load;

(iii) schedule; or

(iv) geographic location; or

(3) an individual who:

(a) in the normal course of business enters into an agreement, whether written or otherwise, with an appraiser for the performance of a real estate appraisal activity; and

(b) under the agreement, cosigns the report of the appraiser performing the real estate appraisal activity upon the completion of the real estate appraisal activity.

Utah Code § 61-2e-104

Amended by Chapter 213, 2018 General Session ,§ 6, eff. 5/8/2018.

Amended by Chapter 166, 2012 General Session ,§ 20, eff. 5/8/2012.

Enacted by Chapter 269, 2009 General Session