Texas Occupations Code Title 7, Chapter 1104 - Appraisal Management Companies

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1104.001 - Short Title
  This chapter may be cited as the Texas Appraisal Management Company Registration and Regulation Act. Added by Acts 2011, 82nd Leg., R.S., Ch. 256 (H.B....
• Texas Section 1104.002 - Purpose
  The purpose of this chapter is to establish and enforce standards related to appraisal management services for appraisal reports on residential properties located in this...
• Texas Section 1104.003 - Definitions
  (a) The definitions in Section 1103.003 apply to this chapter. (b) In this chapter: (1) "Appraisal management company" means, in connection with valuing properties collateralizing...

SUBCHAPTER B BOARD POWERS AND DUTIES

• Texas Section 1104.004 - Exemptions
  (a) This chapter does not apply to: (1) a person who exclusively employs appraisers on an employer and employee basis for the performance of appraisals;...
• Texas Section 1104.051 - Rules
  The board may adopt rules necessary to administer the provisions of this chapter. Added by Acts 2011, 82nd Leg., R.S., Ch. 256 (H.B. 1146), Sec....

SUBCHAPTER C REGISTRATION REQUIREMENTS

• Texas Section 1104.052 - Fees
  (a) Subject to Subsection (b), the board by rule shall establish application, renewal, and other fees in amounts so that the sum of the fees...
• Texas Section 1104.101 - Registration Required
  Unless a person is registered under this chapter, a person may not: (1) act or attempt to act as an appraisal management company; (2) provide...
• Texas Section 1104.102 - Eligibility For Registration; Ownership
  (a) A person who has had a license or certificate to act as an appraiser denied, revoked, or surrendered in lieu of revocation in any...
• Texas Section 1104.103 - Application For Registration Or Renewal
  (a) An applicant for registration or registration renewal under this chapter must submit: (1) an application on a form approved by the board; and (2)...
• Texas Section 1104.104 - Designation Of Primary Contact
  (a) An appraisal management company applying for registration under this chapter shall designate one controlling person as the primary contact for all communication between the...
• Texas Section 1104.105 - Denial Of Registration
  (a) The board may deny a registration: (1) to an applicant who fails to satisfy a requirement of this chapter; or (2) on a determination...
• Texas Section 1104.106 - Issuance And Publication Of Registration Number
  The board shall: (1) issue a unique registration number to each appraisal management company registered under this chapter; and (2) publish annually a list of...

SUBCHAPTER D PRACTICE BY APPRAISAL MANAGEMENT COMPANY

• Texas Section 1104.107 - Expiration Of Registration
  Unless renewed, a registration issued under this chapter expires on the second anniversary of the date the registration is issued. Added by Acts 2011, 82nd...
• Texas Section 1104.151 - Employment Of Certain Persons Prohibited
  (a) An appraisal management company registered under this chapter may not knowingly: (1) employ a person in a position in which the person has the...
• Texas Section 1104.152 - Verification Of Licensure Or Certification
  An appraisal management company registered under this chapter must verify that an individual to whom the company is making an assignment for the completion of...
• Texas Section 1104.153 - Appraisal Review
  A person who performs an appraisal review for an appraisal management company must be licensed or certified under Chapter 1103 with at least the same...
• Texas Section 1104.154 - Competency Of Appraisers
  Before making an assignment to an appraiser, an appraisal management company must verify that the appraiser receiving the assignment satisfies each provision of the competency...
• Texas Section 1104.155 - Professional Standards
  An appraisal management company registered under this chapter shall on a periodic basis perform an appraisal review of the work of appraisers performing appraisal services...
• Texas Section 1104.156 - Business Records
  (a) An appraisal management company registered under this chapter or that has applied for registration under this chapter shall retain for at least five years...
• Texas Section 1104.157 - Compensation Of Appraisers
  (a) An appraisal management company shall: (1) except in cases of breach of contract or substandard performance of services, pay an appraiser for the completion...
• Texas Section 1104.158 - Statement Of Fees
  (a) In reporting to a client, an appraisal management company shall separately state the fees: (1) paid to an appraiser for the completion of an...
• Texas Section 1104.159 - Disclosure Of Registration Number
  An appraisal management company registered under this chapter shall disclose the company's registration number on all documents used to procure appraisals in this state. Added...
• Texas Section 1104.160 - Mandatory Reporting
  An appraisal management company that has a reasonable basis to believe an appraiser is failing to comply with the Uniform Standards of Professional Appraisal Practice...
• Texas Section 1104.161 - Removal Of Appraiser From Appraisal Panel
  (a) Other than during the first 30 days after the date an appraiser is first added to the appraisal panel of an appraisal management company,...

SUBCHAPTER E DISCIPLINARY ACTIONS AND PROCEDURES AND ADMINISTRATIVE PENALTIES

• Texas Section 1104.162 - Dispute Resolution
  An appraisal management company shall make a dispute resolution process available to review a written request by an appraiser who: (1) is dismissed from the...
• Texas Section 1104.201 - Disciplinary Powers Of Board
  (a) The board may reprimand an appraisal management company or conditionally or unconditionally suspend or revoke any registration issued under this chapter if the board...
• Texas Section 1104.202 - Administrative Penalty
  (a) In addition to any other disciplinary action under this chapter, the board may impose an administrative penalty against a person who violates this chapter...
• Texas Section 1104.203 - Prohibited Practices
  (a) An appraisal management company or an employee, director, officer, or agent of an appraisal management company may not: (1) cause or attempt to cause...
• Texas Section 1104.204 - Complaint
  (a) Any person, including a member of the board, may file with the board a written complaint on a form prescribed by the board. (b)...
• Texas Section 1104.205 - Review And Investigation
  (a) On receipt of a complaint or on its own motion, the board shall review and investigate an alleged act or omission that the board...
• Texas Section 1104.206 - General Subpoena Authority
  (a) The board may request and, if necessary, compel by subpoena: (1) the attendance of witnesses for examination under oath; and (2) the production of...
• Texas Section 1104.207 - Report Of Investigation Required
  (a) At the conclusion of the investigation of a complaint, the investigator shall submit to the board a written report to enable the board to...
• Texas Section 1104.208 - Action Based On Report
  (a) Based on the report submitted under Section 1104.207, the board may: (1) order further investigation of the complaint; (2) determine that there is not...
• Texas Section 1104.209 - Notice Of Violation And Penalty
  (a) If, after investigating a possible violation and the facts surrounding that possible violation, the board determines that a violation occurred, the board shall give...
• Texas Section 1104.210 - Penalty To Be Paid Or Hearing Requested
  If the person accepts the board's determination or fails to respond to the notice in a timely manner, the board by order shall approve the...
• Texas Section 1104.211 - Temporary Suspension
  (a) The presiding officer of the board shall appoint a three-member disciplinary panel consisting of board members to determine whether a person's registration under this...
• Texas Section 1104.212 - Notice Of Hearing
  Not later than the 30th day before the hearing date of a contested case involving an appraisal management company, the board shall personally deliver or...
• Texas Section 1104.213 - Applicability Of Administrative Procedure Law
  Except as otherwise provided by this chapter, a proceeding under this subchapter is subject to Chapter 2001, Government Code. Added by Acts 2011, 82nd Leg.,...
• Texas Section 1104.214 - Action After Hearing
  On conclusion of a contested case hearing under this subchapter, the administrative law judge shall: (1) make findings of fact and conclusions of law; and...
• Texas Section 1104.215 - Decision By Board
  (a) Based on the findings of fact and conclusions of law and the recommendations of the hearings examiner, the board by order may determine that:...
• Texas Section 1104.216 - Application For Rehearing
  (a) Not later than the 20th day after the date a final decision is issued in a contested case, a party may file an application...

SUBCHAPTER F OTHER ENFORCEMENT PROVISIONS

• Texas Section 1104.217 - Decision On Rehearing
  (a) The decision made at the conclusion of the original contested case hearing may not be reversed or modified for a procedural, evidentiary, or other...
• Texas Section 1104.251 - Injunction
  (a) The board may institute an action in its own name against any person, including a person who is not registered under this chapter, to...
• Texas Section 1104.252 - Civil Penalty For Engaging In Activity Without Required Registration
  (a) A person who receives consideration for engaging in an activity for which registration is required under this chapter and who is not registered is...
• Texas Section 1104.253 - Criminal Penalty For Engaging In Activity Without Required Registration
  (a) A person commits an offense if the person engages in an activity for which registration is required under this chapter without being registered. (b)...

Last modified: September 28, 2016