2023 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; or
11. 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.