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17-14-413. Compensation of appraisers.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-413. 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 of an appraisal or valuation assignment not later than the sixtieth day after the date the appraiser provides the initial appraisal or valuation assignment to the appraisal management company; and
(2) Compensate appraisers at a rate that is reasonable and customary for appraisals being performed in the market area of the property being appraised consistent with the presumptions under federal law.
(b) An appraiser who is aggrieved under this section may file a complaint with the Arkansas Appraiser Licensing and Certification Board against the appraisal management company.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-413
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-14-413
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 131c0166a59ad80119cec6172b0269fa99b2c7230e44728bfd6db6ad238d413f
Source location: content.xml paragraph 2582
Stored source content
17-14-413. 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 of an appraisal or valuation assignment not later than the sixtieth day after the date the appraiser provides the initial appraisal or valuation assignment to the appraisal management company; and
(2) Compensate appraisers at a rate that is reasonable and customary for appraisals being performed in the market area of the property being appraised consistent with the presumptions under federal law.
(b) An appraiser who is aggrieved under this section may file a complaint with the Arkansas Appraiser Licensing and Certification Board against the appraisal management company.
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