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Ind. Code § 25-34.1-11-3

"Appraisal management services"

Known as the Real Estate Broker Licensing Act

The act spans §§ 25-34.1-10-0.5 to 25-34.1-9-9 (164 sections).

As added by P.L.77-2010, SEC.2.

Sec. 3. (a) As used in this chapter, "appraisal management services" means any of the following functions:

(1) To recruit, qualify, verify licensing or certification, or negotiate fees and service level expectations with independent real estate appraisers on behalf of a person seeking an appraisal.

(2) To receive an order for an appraisal from a person and deliver the order for completion to a independent real estate appraiser.

(3) To track and determine the status of orders for appraisals.

(4) To conduct quality control of a completed appraisal before delivery of the appraisal to the client who ordered the appraisal.

(5) To provide a completed appraisal performed by a real estate appraiser to one (1) or more clients.

(b) The term does not include transportation or communication of an appraisal or order for an appraisal without concern for the appraisal information in the appraisal or the order for an appraisal, including transportation or communication by the United States Postal Service, a delivery company, a courier, or an Internet service provider.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.