NY Exec L § 160-MMMM (2021)
2021 New York Laws EXC - Executive Article 6-H - Real Estate Appraisal Management Companies 160-MMMM - Appraiser Independence; Unlawful Acts.

§  160-mmmm.  Appraiser  independence;  unlawful  acts. Each appraisal   management  company  shall  ensure  that  real  estate  appraisals   are   conducted  independently  and  free  from  inappropriate  influence  and   coercion. Notwithstanding any other provision of this article, it  shall   be  unlawful  for  any  employee,  director,  officer,  or  agent  of an   appraisal management company registered in this state pursuant  to  this   article to:1.  Compensate,  coerce,  extort, collude, instruct, induce, bribe, or   intimidate, or attempt to compensate, coerce, extort, collude, instruct,   induce, bribe, or intimidate a person, firm or other  entity  conducting   or  involved  in  an  appraisal for the purpose of causing the appraised   value assigned under the appraisal or other valuation  services  to  the   property  to  be based on any factor other than the independent judgment   of the appraiser;2. Mischaracterize the appraised value of a  property  in  conjunction   with a consumer credit transaction;3. Seek to influence an appraiser or otherwise to encourage a targeted   value  in order to facilitate the making or pricing of a consumer credit   transaction;4. Act without just cause to withhold or threaten to  withhold  timely   payment for an appraisal report or for other valuation services rendered   with  such  appraisal report or services provided in accordance with the   contract between parties;5. Act without just cause to withhold or threaten to  withhold  future   business, or to demote or terminate an appraiser without just cause;6.  Expressly  or  implicitly  promise future business, promotions, or   increased compensation for an appraiser in exchange for the real  estate   appraiser  inflating  or  deflating  his  or her appraised value of real   property;7.  Require  a  real  estate  appraiser  to  indemnify  an   appraisal   management  company or hold an appraisal management company harmless for   any liability, damage, losses, or claims arising  out  of  the  services   performed  by  such  appraisal  management company, and not the services   performed by the appraiser;8. Condition the request for an appraisal or the payment of an  earned   fee,  salary  or  bonus,  on the opinion, conclusion, or valuation to be   reached, or on a preliminary  estimate  or  opinion  requested  from  an   appraiser;9.  Request  that an appraiser provide an estimated, predetermined, or   desired valuation in an appraisal report, or provide estimated values or   comparable sales at any time prior to the appraiser's completion  of  an   appraisal;10.  Provide to an appraiser an anticipated, estimated, encouraged, or   desired value for a subject property or a proposed or target  amount  to   be  loaned to the borrower, except that a copy of the sales contract for   purchase transactions may be provided; or11. Provide to an appraiser, or any entity or person  related  to  the   appraiser,  stock  or  any  other financial or non-financial benefits in   exchange for appraising property in a manner other than  that  which  is   within the independent opinion of the appraiser.Nothing  in  this  section  shall  be  construed  as  prohibiting  the   appraisal management  company  from  asking  an  appraiser  to  consider   additional,  appropriate  property  information,  including:  additional   comparable properties to make or support an appraisal;  provide  further   detail,   substantiation,  or  explanation  for  the  appraiser's  value   conclusion; or correct errors in the appraisal report.