Each registered appraisal management company shall certify to the commission on a biennial basis that it has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals in Tennessee for the appraisal management company to validate that the appraisals are being conducted in accordance with USPAP. An AMC shall report to the commission the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP, state laws or federal laws pertaining to appraisals.
Tenn. Code Ann. § 62-39-416
Biennial certification of system for periodic appraisal review
Known as the State Licensing and Certified Real Estate Appraisers Law
The act spans §§ 62-39-101 to 62-39-428 (74 sections).
Acts 2010, ch. 963, § 17; 2013, ch. 180, §§ 12, 13.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.