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Montana Statutes, Title 37

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Montana/Statutes

← All Montana coverage

Title 37, Title 37

71 chapters · 947 sections in this title.

All chapters in Title 37947 Ch 1, GENERAL PROVISIONS69 Ch 7, PHARMACY65 Ch 19, MORTICIANS AND FUNERAL SERVICES45 Ch 2, GENERAL PROVISIONS RELATING TO HEALT…39 Ch 54, REAL ESTATE APPRAISERS38 Ch 61, ATTORNEYS AT LAW38 Ch 3, MEDICINE32 Ch 18, VETERINARY MEDICINE28 Ch 4, DENTISTRY AND DENTAL HYGIENE27 Ch 8, NURSING27 Ch 51, REAL ESTATE BROKERS AND SALESPERSONS27 Ch 47, OUTFITTERS AND GUIDES24 Ch 50, PUBLIC ACCOUNTANTS21 Ch 67, ENGINEERS AND LAND SURVEYORS21

38 sections·Filtered byTitle 37✕Ch 54✕

Mont. Code Ann. § 37-54-101 Short Title
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This chapter may be cited as the "Real Estate Appraiser Licensing and Certification Act".
Mont. Code Ann. § 37-54-102 Definitions
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Terms commonly used in appraisal practice and as used in this chapter must be defined according to the uniform standards of professional appraisal practice, as issued by the appraisal foundation. As used in this chapter, unless the context requires otherwise, the following defini…
Mont. Code Ann. § 37-54-105 Powers And Duties Of Board
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The board shall: (1) adopt rules to implement and administer the provisions of this chapter; (2) establish and collect fees commensurate with the costs of processing: (a) an application for licensure or renewal of licensure; (b) certification or renewal of a certificate; and (c) …
Mont. Code Ann. § 37-54-111 Certificate Of Good Standing
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The board may issue a certificate of good standing to any licensed or certified real estate appraiser who holds a current valid license or certificate in this state.

Mont. Code Ann. § 37-54-112 Deposit Of Fees

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Except as provided in 37-54-105(12), fees collected by the board under this chapter must be deposited in the state special revenue fund for the use of the board, subject to 37-1-101(6), and may be used to pay the compensation of board members and other expenses necessary to admin…

Mont. Code Ann. § 37-54-113 Registry Fees -- Statutory Appropriation

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Registry fees collected under 37-54-105(12) are separate from registration fees provided for elsewhere in this part. Registry fees are statutorily appropriated, as provided in 17-7-502, to the department to transmit to the appraisal subcommittee of the federal financial instituti…

Mont. Code Ann. § 37-54-201 Real Estate Appraiser License -- Scope And Display Of License

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(1) On proof that an applicant meets the qualifications set out in 37-54-202, the board shall issue to the applicant a real estate appraiser license. (2) The term "licensed real estate appraiser" may not be used to describe a firm, partnership, corporation, group, or anyone other…

Mont. Code Ann. § 37-54-202 Qualifications For Licensure

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(1) To qualify for a real estate appraiser license, an applicant: (a) must be of good moral character; (b) shall successfully complete a course of study prescribed by the board; (c) must have the type and amount of experience in real estate appraisal prescribed by the board; (d) …

Mont. Code Ann. § 37-54-212 Temporary Permit Practice By Out-Of-State Appraisers

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In accordance with policy statements issued by the appraisal subcommittee of the federal financial institutions examination council under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and without regard to the provisions of 37-1-144, the de…

Mont. Code Ann. § 37-54-301 Certification -- Use Of Term -- Standards Of Practice

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(1) A person may not represent to the public that the person is a certified real estate appraiser unless the person is certified under this chapter. (2) Only a certified real estate appraiser may prepare and sign a certified appraisal report relating to real estate or real proper…

Mont. Code Ann. § 37-54-302 Certification Process -- Fees

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(1) An application for certification, original certification, or renewal of certification must be made in writing to the board on forms approved by the board. (2) A fee established by the board by rule must accompany the application. (3) When an applicant files an application for…

Mont. Code Ann. § 37-54-303 Classes Of Certification -- Education And Experience Requirements

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(1) A real estate appraiser may be certified in one or both of the following classes: (a) general real estate, which relates to the appraisal of all types of real property; (b) residential real estate, which relates to the appraisal of expensive or complex 1 to 4 family homes. (2…

Mont. Code Ann. § 37-54-305 Issuance And Display Of Certificate

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(1) The board shall issue a certificate and a pocket card to a person who meets the requirements of 37-54-302 and 37-54-303. (2) The certificate must include the dates of issuance and renewal of certification. (3) A certified real estate appraiser shall conspicuously display the …

Mont. Code Ann. § 37-54-310 Renewal Of Certificate

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(1) A certificate issued under 37-54-305 expires on the date set by department rule. (2) A certificate may be renewed upon payment of a renewal fee and by meeting all requirements for renewal. (3) An applicant for renewal shall state the class of certification previously held and…

Mont. Code Ann. § 37-54-403 Standards Of Professional Appraisal Practice

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(1) A licensed or certified real estate appraiser shall comply with generally accepted standards of professional appraisal practice, evidenced by the uniform standards of professional appraisal practice promulgated by the appraisal standards board of the appraisal foundation. A l…

Mont. Code Ann. § 37-54-411 Classification Of Services

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(1) A client or employer may retain or employ a licensed or certified real estate appraiser to: (a) act as a disinterested third party in rendering an unbiased analysis, opinion, conclusion, or estimate of value; or (b) provide specialized appraisal services to facilitate the cli…

Mont. Code Ann. § 37-54-412 Collection Of Appraisal Fees

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A person who performs independent appraisal services as a licensed or certified real estate appraiser in this state may not bring an action in any court in this state to collect compensation for the performance of those services unless the person alleges and proves that the perso…

Mont. Code Ann. § 37-54-415 Place Of Business

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(1) A resident licensed or certified real estate appraiser shall maintain a principal place of business in this state. If the appraiser changes the principal place of business, the appraiser shall promptly notify the board in writing of the change. Upon receipt of notice of the c…

Mont. Code Ann. § 37-54-416 Retention Of Records

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(1) A licensed or certified real estate appraiser shall retain for 5 years from the date of submission of an appraisal report to a client: (a) an original or true copy of any written contract engaging the person's services as an appraiser; (b) an appraisal report prepared or sign…

Mont. Code Ann. § 37-54-501 Appraisal Management Company Registration

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(1) (a) It is unlawful for a person to directly or indirectly engage in or attempt to engage in business as an appraisal management company or to advertise or hold itself out as engaging in or conducting business as an appraisal management company in this state without first obta…

Mont. Code Ann. § 37-54-502 Registration Exemptions

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(1) The provisions of this chapter do not apply to a person who exclusively employs appraisers on an employer-employee basis for the performance of an appraisal assignment. (2) An appraisal management company that is a subsidiary owned and controlled by a financial institution th…

Mont. Code Ann. § 37-54-503 Owner Requirements

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(1) An appraisal management company applying for registration in this state may not be owned by: (a) a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked for substantive cause, or surrendered in lieu of a pending revocation in an…

Mont. Code Ann. § 37-54-504 Contact Individual

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(1) Each appraisal management company shall designate one individual as the main contact for communication between the board and the appraisal management company. An appraisal management company may designate a controlling person of the company as the contact individual. (2) The …

Mont. Code Ann. § 37-54-505 Employee Requirements

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An appraisal management company may not: (1) employ a person who may have any responsibility in ordering appraisal reports, providing quality control testing for appraisal reports, or communicating with appraisers regarding any potential appraisal report deficiencies who has had …

Mont. Code Ann. § 37-54-506 Appraisal Review

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An employee or independent contractor of the appraisal management company that performs an appraisal review for a property located in this state: (1) must be an appraiser licensed or certified in this state; and (2) shall comply with the review provisions of the uniform standards…

Mont. Code Ann. § 37-54-507 Mandatory Reporting

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An appraisal management company that has a reasonable basis to believe an appraiser is failing to comply with the uniform standards of professional appraisal practice, is violating applicable laws, or is otherwise engaging in unethical or unprofessional conduct shall refer the ma…

Mont. Code Ann. § 37-54-508 Limitations

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(1) An appraisal management company registered in this state pursuant to this chapter may not enter into contracts or agreements with an individual for the performance of appraisals unless the company obtains verification that the individual is licensed or certified to perform ap…

Mont. Code Ann. § 37-54-509 Certification To Board -- Appraisal Panel Members

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Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that the appraisal management company has a system and process in place to verify that all appraisers on the appraisal panel of the appraisal management company …

Mont. Code Ann. § 37-54-510 Certification To Board -- Continuing Licensure

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Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that the appraisal management company has a system in place to verify that an appraiser to whom the appraisal management company is making an assignment for the …

Mont. Code Ann. § 37-54-511 Certification -- Adherence To Standards

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Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that it has a system in place to perform on an annual basis an appraisal review of the work of all appraisers who are performing appraisals for the appraisal man…

Mont. Code Ann. § 37-54-512 Audits

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Upon renewal, not less than 10% of the appraisal management companies in this state must be subjected to a random audit. Audited appraisal management companies shall submit the recordkeeping documentation described in 37-54-513 for the 12-month period prior to renewal and any oth…

Mont. Code Ann. § 37-54-513 Recordkeeping

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Each appraisal management company seeking to be registered in this state shall certify to the board on an annual basis that it has retained the following documentation in accordance with the recordkeeping provisions of the uniform standards of professional appraisal practice and …

Mont. Code Ann. § 37-54-514 Appraiser Independence -- Prohibitions

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(1) An employee, director, officer, or agent of an appraisal management company registered in this state may not influence or attempt to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation,…

Mont. Code Ann. § 37-54-515 Guaranty Of Payment

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Each appraisal management company registered in this state shall, except in cases of breach of contract, pay an appraiser for the completion of an appraisal or valuation assignment within 60 days of the date on which the appraiser transmits or otherwise provides the completed app…

Mont. Code Ann. § 37-54-516 Alteration Of Appraisal Report

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An appraisal management company may not alter, modify, or otherwise change a completed appraisal report submitted by an appraiser unless the alteration is mandated by federal laws, guidelines, or provisions. This section does not apply to the conversion of appraisal reports to da…

Mont. Code Ann. § 37-54-517 Registration

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The department shall publish annually a list of appraisal management companies that have registered with the department pursuant to this chapter.

Mont. Code Ann. § 37-54-518 Advertising

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(1) An appraisal management company registered in this state shall disclose its registration number on its engagement letter for each appraisal assignment. (2) An appraiser shall list the appraisal management company's approved registration number in the body of the appraisal rep…

Mont. Code Ann. § 37-54-519 Unprofessional Conduct

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An appraisal management company engages in unprofessional conduct if it: (1) requires an appraiser to modify any aspect of an appraisal report other than those items identified by a quality control examination, including items that are found to be incomplete within the defined sc…