Minnesota Statutes 82C.15 – Adjudication of Disputes Between an Appraisal Management Company and an Independent Appraiser
An appraisal management company may not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an independent appraiser without:
Terms Used In Minnesota Statutes 82C.15
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appraisal: A determination of property value.
- Appraisal management company: means a corporation, partnership, sole proprietorship, subsidiary, unit, or other business entity that directly or indirectly performs the following appraisal management services:
(1) within a given 12-month period, as defined in section 82C. See Minnesota Statutes 82C.02
- Appraiser: means a person who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective, and who is licensed under chapter 82B. See Minnesota Statutes 82C.02
- Appraiser panel: means a network of licensed or certified appraisers who are independent contractors to the appraisal management company that have:
(1) responded to an invitation, request, or solicitation from an appraisal management company, in any form, to perform appraisals for persons that have ordered appraisals through the appraisal management company, or to perform appraisals for the appraisal management company directly, on a periodic basis, as requested and assigned by the appraisal management company; and
(2) been selected and approved by an appraisal management company to perform appraisals for any client of the appraisal management company that has ordered an appraisal through the appraisal management company, or to perform appraisals for the appraisal management company directly, on a periodic basis, as assigned by the appraisal management company. See Minnesota Statutes 82C.02
- USPAP: means the Uniform Standards of Professional Appraisal Practice as established by the Appraisal Foundation. See Minnesota Statutes 82C.02
(1) notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel or is not receiving appraisal requests from the appraisal management company;
(2) if the appraiser is being removed from the panel for illegal conduct, having determined that the appraiser has violated USPAP, or chapter 82B, taking into account the nature of the alleged conduct or violation; and
(3) providing an opportunity for the appraiser to respond and appeal the notification of the appraisal management company.