1. An appraiser or umpire shall have a continuing duty and obligation to keep, at the appraiser’s or umpire’s place of business, usual and customary records pertaining to appraisals undertaken by the appraiser or umpire. All such records shall be kept available for inspection by the commissioner or the commissioner’s agent during regular business hours. The commissioner or the commissioner’s agent shall not be entitled to inspect any records prepared in anticipation of litigation or that are subject to any privilege recognized in chapter 622. Such records shall be maintained for a minimum of three years following the date of final claim resolution.
2. An appraiser or umpire who willfully fails to comply with this section is subject to penalty under section 522F.20.
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