Kansas Statutes 58-4721. Removal of appraiser, limitation
Terms Used In Kansas Statutes 58-4721
- AMC: means an individual, firm, partnership, association, corporation, limited liability company or any other business entity acting as an external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets:
(1) That performs appraisal management services, regardless of the use of any of the following terms: Appraisal management company, mortgage technology provider, mortgage services provider, lender processing services provider, loan processor, real estate closing services provider, vendor management company or any other like term; and
(2) such entity oversees an appraiser panel of:
(A) More than 15 appraisers who are certified or licensed in Kansas; or
(B) a total of more than 25 appraisers who are certified or licensed in Kansas and in any other jurisdiction. See Kansas Statutes 58-4703
- Appraiser: means an individual who holds a credential issued by the Kansas real estate appraisal board pursuant to the state certified and licensed real property appraiser act entitling that individual to perform an appraisal of real property in the state of Kansas consistent with the scope of practice for such credential. See Kansas Statutes 58-4703
- Appraiser panel: means a network of one or more licensed or certified appraisers who are independent contractors to the AMC and have:
(1) Responded to an invitation, request, or solicitation from an AMC, in any form, to perform appraisals for persons that have ordered appraisals through the AMC, or to perform appraisals for the AMC directly, on a periodic basis, as requested and assigned by the AMC; and
(2) been selected and approved by an AMC to perform appraisals for any client of the AMC that has ordered an appraisal through the AMC, or to perform appraisals for the AMC directly, on a periodic basis, as assigned by the AMC. See Kansas Statutes 58-4703
- Board: means the Kansas real estate appraisal board. See Kansas Statutes 58-4703
- USPAP: means the edition of the uniform standards of professional appraisal practice as specified in Kan. See Kansas Statutes 58-4703
No AMC shall remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an appraiser without:
(a) Notifying the appraiser in writing of the reasons why such appraiser is being removed from the appraiser panel of the AMC;
(b) providing an opportunity for the appraiser to respond to the written notification of the AMC either personally or through legal counsel; and
(c) if the appraiser is being removed from the panel for illegal conduct, violation of the USPAP, or a violation of this act or the regulations adopted thereunder, providing notice to the appraiser and to the board detailing allegations of fact and alleged violations of USPAP, regulations or laws.