Sec. 2677.
(1) Beginning 90 days after an appraisal management company first adds the independent appraiser to its appraiser panel, the appraisal management company shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an independent appraiser, without doing all of the following:
(a) Within 10 business days after the removal of the appraiser, notifying the appraiser in writing of all of the following, as applicable:
(i) The reasons why the appraiser was removed from the panel.
(ii) If the appraiser was removed from the panel for illegal conduct, a violation of the uniform standards of professional appraisal practice, or a violation of state licensing standards, the nature of the alleged conduct or violation.
(b) Providing an opportunity for the appraiser to respond to the company's notification or notifications under subdivision (a).
(2) If an appraisal management company removes an independent appraiser from its appraiser panel for alleged illegal conduct, an alleged violation of the uniform standards of professional appraisal practice, or an alleged violation of state licensing standards, the appraiser may file a complaint with the department for a review of the decision of the appraisal management company. In its consideration of the complaint, the department may not make any determination regarding the nature of the business relationship between the appraiser and the appraisal management company that is unrelated to the alleged conduct or violation.
History: Add. 2012, Act 505, Eff. Apr. 1, 2014
Popular Name: Act 299
Last modified: October 10, 2016