Title 08, Business and Professions

(a) The board may not renew a certificate issued under this chapter unless the person applying for renewal presents evidence satisfactory to the board that the person has, within the two years preceding the application for renewal, attended classroom instruction, as required by t…

(a) A person shall register as a real estate appraisal management company with the board to perform appraisal management services if the person (1) provides an appraisal management service (A) to a creditor or secondary mortgage market participant, including an affiliate; and (B)…

(a) The board shall register a real estate appraisal management company operating in the state if the company applies on a form approved by the board, pays the fee required under AS 08.01.065, and presents evidence satisfactory to the board that the company (1) has designated a c…

A real estate appraisal management company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company that has reasonable cause to believe that a real estate appraiser has failed to comply with the Uniform Standards of Professiona…

(a) When reporting to a borrower, an appraisal management company shall separately state the fees (1) paid to an appraiser for the completion of an appraisal; and (2) charged to the borrower for appraisal management services by the appraisal management company. (b) An appraisal m…

A registered real estate appraisal management company or a real estate appraisal management company that has applied for registration shall allow the board to inspect and shall retain, for not less than the later of either five years after the date a file is submitted to the comp…

(a) A real estate appraisal management company that is owned and controlled by an insured depository institution as defined in 12 U.S.C. 1813 and regulated by the United States Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Depos…

AS 08.87.130 — 08.87.150, 08.87.215, and 08.87.220 do not apply to a (1) person who is employed by a department or division of an entity that provides appraisal management services only to that entity; (2) real estate appraisal management company that is (A) owned and controlled …

A certified real estate appraiser may not (1) act negligently or incompetently or fail without good cause to exercise reasonable diligence in developing an appraisal, preparing an appraisal report, or communicating an appraisal; (2) wilfully disregard or violate a provision of th…

The board may exercise its disciplinary powers under AS 08.01.075 if, after hearing, the board finds a certified real estate appraiser has (1) violated a provision of this chapter or a regulation adopted by the board under this chapter; (2) been convicted of a crime that involves…

(a) A real estate appraisal management company may not, while registered in the state, retain or enter into a business relationship with an employee, contractor, or agent whose certificate to act as a real estate appraiser is denied, cancelled, suspended, revoked, put on probatio…

The board may take disciplinary action under AS 08.01.075 or suspend or revoke a registration of a real estate appraisal management company if it finds that the (1) company or a controlling person, employee, director, officer, or agent of a real estate appraisal management compan…

(a) A certified real estate appraiser shall retain copies of all written contracts engaging the appraiser's services for real property appraisal work, and all reports and supporting data assembled and formulated by the appraiser in preparing the reports, for at least five years a…

The board may establish requirements for trainee appraisers and supervisory appraisers. The board shall ensure that the requirements conform with 12 U.S.C. 3345.

A person may not bring an action in a court of this state for compensation for an act done or service rendered as a certified real estate appraiser if the person did not hold a certificate under this chapter at the time that the person performed the act or service or offered to p…

This chapter does not apply to a person who appraises real estate as part of the tax assessment process of a municipality.

Nothing in this chapter precludes a person who is not certified as a real estate appraiser from appraising real estate for compensation if the person does not hold out to be a certified appraiser and if appraisal by a certified appraiser is not required by federal law.

In this chapter, (1) “analysis assignment” means an analysis, opinion, or conclusion prepared by a real estate appraiser that relates to the nature, quality, or utility of certified real estate or real property; (2) “appraisal” means an analysis, opinion, or conclusion prepared b…