reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-318 - Suit to collect compensation for appraisal services - License or certificate required

No person engaged in the business of real estate appraising in this state or acting in the capacity of a real estate appraiser in this state may bring or maintain any action in any court of this state to collect compensation for the performance of real estate appraisal services for which a license or certificate is required by this chapter, without alleging and proving that the person was the holder of a valid real estate appraiser license or certificate in this state at all times during the performance of the services.
Acts 1990, ch. 865, § 27; 1991, ch. 366, § 31.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-319 - Penalties

(a)
Any person required by this chapter to be licensed who engages in real estate appraisal activity in this state without obtaining a license for the appraisal activity or who violates this chapter commits a Class A misdemeanor and shall be ineligible to obtain a license for a period of one (1) year from the date of the person's conviction of the offense.
(b)
The board shall not deny, revoke, suspend, refuse to renew or discriminate against any applicant for membership or lack of membership in any real estate appraiser organization.
(c)
No person, corporation, governmental entity, bank or other financial institution shall discriminate against any appraiser for membership or lack of membership in any appraisal organization. A violation of this subsection (c) is a Class A misdemeanor.
(d)
Any attempt by any person, corporation, governmental entity, bank or other financial institution to unduly intimidate an appraiser or influence an appraiser's report relating to market conditions or determination of value is a Class A misdemeanor.
(e)
The commission shall use all available means to locate and communicate with all persons holding themselves out as appraisers.
Acts 1990, ch. 865, § 28; 1991, ch. 366, § 32.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-320 - Roster of licensed appraisers

The commission shall prepare and issue at least once each calendar year a roster showing the name and place of business of each real estate appraiser currently licensed and each real estate appraiser currently certified.
Amended by 2021 Tenn. Acts, ch. 549, s 37, eff. 10/1/2021.
Acts 1990, ch. 865, § 29.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-321 - Certificate of good standing

The commission, upon payment of a fee in an amount specified in its regulations, shall issue a letter stating that a license or certificate holder is in good standing in this state.
Acts 1990, ch. 865, § 30; 1991, ch. 366, § 33.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-322 - Nonresident licensees and certificate holders - Reciprocity - Fees

(a)
If, in the determination of the commission, a state is deemed to have meaningful requirements for licensure and certification, then the commission shall grant reciprocal rights to licensees and certificate holders who are in good standing in that state.
(b)
The commission shall set reasonable fees for the practice of appraisal in this state by licensees and certificate holders of other states that have been granted reciprocity.
Amended by 2013 Tenn. Acts, ch. 180, s 14, eff. 4/23/2013.
Acts 1990, ch. 865, § 31; 1991, ch. 366, § 34.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-323 - License or certificate number to appear on appraisal reports - Authorized use of initials

(a)
A license or certificate issued under authority of this chapter shall bear the license or certificate number assigned by the commission.
(b)
Each state licensed real estate appraiser shall place the real estate appraiser's license number adjacent to or immediately below the title "State Licensed Real Estate Appraiser" when used in an appraisal report or in a contract or other instrument used by the license holder in conducting appraisal activities, unless the licensed appraiser is also a state certified appraiser.
(c)
Each state certified real estate appraiser shall place the real estate appraiser's certificate number adjacent to or immediately below the title "State Certified Residential Real Estate Appraiser" or "State Certified General Real Estate Appraiser" when used in an appraisal report or in a contract or other instrument used by the certificate holder in conducting appraisal activities.
(d)
In lieu of spelling out the full title as set forth in this section, a state-certified general real estate appraiser may use the initials "C.G.," a state-certified residential real estate appraiser may use the initials "C.R." and a state licensed real estate appraiser may use the initials "L.I." The initials should be immediately followed by the license or certificate number. The unauthorized use of these initials by an unlicensed person to imply that the person is a licensed or certified appraiser constitutes a Class A misdemeanor.
Acts 1990, ch. 865, § 32; 1994, ch. 605, § 8; 1995, ch. 222, § 3.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-324 - Use of certain titles restricted to individual holders of license or certificate - Issuance of license or certificate to certain entities prohibited

(a)
"State certified real estate appraiser," "state certified residential real estate appraiser," "state certified general real estate appraiser" or "state licensed real estate appraiser" may only be used to refer to individuals who hold the license or certificate and may not be used following or immediately in connection with the name or signature of a firm, partnership, corporation or group or in such manner that it might be interpreted as referring to a firm, partnership, corporation, group or anyone other than an individual holder of the license or certificate.
(b)
No license or certificate shall be issued under this chapter to a firm, partnership, corporation or group. This shall not be construed to prevent a state licensed or certified real estate appraiser from signing an appraisal report on behalf of a firm, partnership, corporation or group practice.
Acts 1990, ch. 865, § 33.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-325 - Renewal of license or certificate - Rules - Legislative intent

(a)
In accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commission shall promulgate rules to ensure that each individual renewing the individual's license or certificate has a working knowledge of current real estate appraisal theories, practices and techniques sufficient to enable the individual to provide competent real estate appraisal services to the members of the public with whom the individual deals in a professional relationship.
(b)
It is the intent of this chapter to meet the minimum criteria for certification established from time to time by the appraiser qualifications board of the appraisal foundation, and the commission may recommend changes to this section to meet those criteria.
Acts 1990, ch. 865, § 34; 1991, ch. 366, § 35.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-326 - Violations - Revocation or suspension

The rights of any applicant or holder under a certificate as a state licensed or certified real estate appraiser may be revoked, suspended or restricted, or the owner of the certificate may be assessed a civil penalty of up to one thousand dollars ($1,000) per violation, or otherwise disciplined in accordance with this chapter, upon any of the following grounds:
(1)
Procuring or attempting to procure a license or certificate pursuant to this chapter by knowingly making a false statement, submitting false information, refusing to provide complete information in response to a question in an application for a license or certificate or through any form of fraud or misrepresentation;
(2)
Paying money other than provided for by this chapter to any member or employee of the commission to procure a license or certificate under this chapter;
(3)
Conviction, including conviction based upon a plea of guilty or nolo contendere, of a crime that is substantially related to the qualifications, functions, and duties of a person developing appraisals and communicating appraisals to others or conviction of any felony. However, an action taken under this subdivision (3) shall be subject to the applicable provisions of the Fresh Start Act that are compiled in chapter 76, part 1 of this title;
(4)
An action or omission involving dishonesty, fraud or misrepresentation; or
(5)
A violation of any of the standards for appraisals and appraisal practice as set forth in this chapter and the rules and regulations promulgated by the commission.
Amended by 2018 Tenn. Acts, ch. 745, s 20, eff. 7/1/2018.
Acts 1990, ch. 865, § 35; 1991, ch. 366, § 36; 1995, ch. 222, § 4.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-327 - Notice of charges - Requirements - Subpoenas

(a)
Before suspending or revoking any license or certification, the commission shall notify the appraiser in writing of any charges within a reasonable period of time prior to the date set for the hearing and shall afford the appraiser an opportunity to be heard in person or by counsel.
(b)
The written notice may be served either personally or sent by registered or certified mail to the last known business address of the appraiser.
(c)
The commission shall have the power to subpoena and issue subpoenas duces tecum and to bring before it any person in this state and to take testimony by deposition, in the same manner as prescribed by law in judicial proceedings in the courts of this state.
(d)
The commission shall not consider a complaint for disciplinary action against a real estate appraiser if the complaint relates to an appraisal that was completed more than three (3) years before the complaint was submitted to the commission.
Amended by 2017 Tenn. Acts, ch. 234, s 2, eff. 7/1/2017.
Acts 1990, ch. 865, § 36; 1991, ch. 366, § 37.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-328 - Hearing

The hearing on the charges shall be at a time and place prescribed by the commission and in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
Acts 1990, ch. 865, § 37; 1991, ch. 366, § 38.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-329 - Appraisal standards

It is the intent of this chapter that real estate appraisals be performed in accordance with generally accepted appraisal standards; therefore, state licensed and/or certified real estate appraisers must comply with the Uniform Standards of Professional Appraisal Practice promulgated by the appraisal standards board of the appraisal foundation and any other duly established standards of the commission. The commission shall not establish any criteria for licensure that are more stringent than the criteria established by the federal appraiser qualification board.
Acts 1990, ch. 865, § 38; 1991, ch. 366, § 39.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-330 - Employing or retaining an appraiser as disinterested third party or for specialized services

A client or employer may retain or employ a state licensed or certified real estate appraiser to act as a disinterested third party in rendering an unbiased estimate of value or analysis. A client or employer may also retain or employ a state licensed or certified real estate appraiser to provide specialized services to facilitate the client's or employer's objectives. In either case, the appraisal and the appraisal report must be prepared in compliance with this chapter.
Acts 1990, ch. 865, § 39; 1991, ch. 366, § 40.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-331 - Certain contingent fees prohibited - Exception

(a)
A state licensed or certified real estate appraiser may not accept a fee for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis or opinion or is contingent upon the opinion, conclusion or valuation reached or upon the consequences resulting from the appraisal assignment.
(b)
A state licensed or certified real estate appraiser who enters into an agreement to perform specialized services may be paid a fixed fee or a fee that is contingent on the results achieved by the specialized services.
Acts 1990, ch. 865, § 40.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-332 - Records retention

(a)
A state licensed or certified real estate appraiser shall retain the following records for five (5) years or for at least two (2) years after the disposition of any civil, criminal or administrative proceeding in which testimony was given about an appraisal assignment or appraisal report, whichever period expires last:
(1)
Originals and true copies of all engagement letters and written contracts engaging the appraiser's services for real property appraisal work; and
(2)
All reports and support data assembled and formulated by the appraiser in preparing the report.
(b)
The five-year period for the retention of records shall commence on the date that the appraiser submits the appraisal to the client.
(c)
All records required to be maintained under this chapter shall be made available by the state licensed or certified real estate appraiser for inspection and copying by the commission on reasonable notice to the appraiser.
Acts 1990, ch. 865, § 41; 2007 , ch. 101, § 1.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-333 - Commission - Authority to promulgate rules and regulations

(a)
The commission shall have the authority to promulgate rules and regulations pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, as may be necessary to ensure compliance with the Financial Institutions Reform, Recovery and Enforcement Act of 1989, and other federal law that may be applicable.
(b)
It is the intent of this chapter to enact policies, practices and procedures consistent with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989. Under federal law, this chapter is subject to judicial review and review by the appraisal subcommittee of the federal financial institutions examination council. If any provision of this chapter or its application to any person or in any circumstance is declared by the appraisal subcommittee and a court of competent jurisdiction to be invalid or unenforceable, provisions constituting the remainder of the chapter and the application of those provisions to other persons and in other circumstances shall not be affected.
Acts 1990, ch. 865, § 42.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-334 - Court testimony - Receipt of fee

This chapter shall not act or be construed to prohibit a real estate broker licensed under chapter 13 of this title from testifying as to the value of property in court cases as an expert witness and receiving a fee for the testimony subject to review by the court.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-335 - Minimum requirements

It is the legislative intent that this chapter shall not require an applicant to have more than the minimum hourly requirements of education and experience in order to qualify for full licensure or certification. The minimum requirements are those requirements set forth by the appraisal foundation. The Tennessee real estate appraisal commission has the authority to adjust hourly education and experience requirements in order to meet the minimum federal standards.
Acts 1990, ch. 865, § 47.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 3 - LICENSING, CERTIFICATION AND EXAMINATION (§§ 62-39-301 — 62-39-336) › Section 62-39-336 - Temporary practice permits - Administrative action - Consent to suit

(a)
The commission may issue a temporary practice permit to a nonresident of this state who is properly licensed or certified in another state. The holder of a valid temporary practice permit shall be authorized to perform appraisals in this state subject to the requirements of this chapter and the rules promulgated by the commission.
(b)
The commission shall have the authority to promulgate rules and regulations governing temporary practice, pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, as may be necessary to ensure compliance with the Financial Institutions Reform, Recovery and Enforcement Act of 1989 and other federal law that may be applicable. The commission may also adopt emergency rules as determined to be necessary to effectuate this section, in accordance with the Uniform Administrative Procedures Act.
(c)
Under no circumstances, other than as stated in this chapter, shall an appraiser who is not licensed or certified in this state be authorized to perform appraisals in this state.
(d)
Every applicant for a temporary practice permit shall file with the commission, on a form approved by the commission, an irrevocable consent that legal actions may be properly commenced against the applicant in this state. The consent shall be duly notarized and, if made by a corporation, shall be authenticated by its seal.
Acts 1991, ch. 366, § 43; 1994, ch. 605, § 5.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-401 - Short title

This part shall be known and may be cited as the "Tennessee Appraisal Management Company Registration and Regulation Act."
Acts 2010, ch. 963, § 2.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-403 - Registration requirement

(a)
No person shall directly or indirectly engage or attempt to engage in business as an appraisal management company, to directly or indirectly engage or attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration issued by the commission under this part.
(b)
The registration required by subsection (a) shall, at a minimum, include the following:
(1)
Name of the entity seeking registration;
(2)
Business address of the entity seeking registration which must be located and maintained within this state;
(3)
Phone contact information of the entity seeking registration;
(4)
If the entity is not a corporation that is domiciled in this state, the name and contact information for the company's agent for service of process in this state;
(5)
The name, address, and contact information for any individual or any corporation, partnership, or other business entity that owns ten percent (10%) or more of the appraisal management company;
(6)
The name, address, and contact information for a designated controlling person to be the primary communication source for the commission;
(7)
A certification that the entity has a system and process in place to verify that a person being added to the appraiser panel of the appraisal management company for appraisal services to be performed in Tennessee holds a license or certification in good standing in Tennessee pursuant to part 3 of this chapter, if a license or certification is required to perform appraisals, pursuant to §
62-39-415
;
(8)
A certification that the entity has a system in place to review the work of all appraisers who are performing real estate appraisal services in Tennessee for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP, pursuant to §
62-39-416
;
(9)
A certification that the entity maintains a detailed record of each service request that it receives for appraisal services within this state and the appraiser who performs the real estate appraisal services for the appraisal management company, pursuant to §
62-39-417
;
(10)
An irrevocable uniform consent to service of process, pursuant to §
62-39-407
; and
(11)
Any other reasonable information required by the commission to complete the registration process.
Acts 2010 , ch. 963, § 4.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-404 - Applicability

This part shall not apply to:
(1)
A national or state bank or federal or state savings institution that is subject to direct regulation or supervision by an agency of the United States government, or by the department of financial institutions, that receives a request for the performance of an appraisal from one (1) employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser who is an independent contractor to the institution. An entity exempt as provided in this subdivision (1) shall file a notice with the commission that contains the information required in §
62-39-403
;
(2)
An appraiser that enters into an agreement, whether written or otherwise, with an appraiser for the performance of an appraisal, and upon the completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the appraiser who requested the completion of the appraisal;
(3)
Any state agency or local municipality that orders appraisals for ad valorem tax purposes or any other business on behalf of this state;
(4)
Any person licensed to practice law in this state, a court-appointed personal representative, or a trustee who orders an appraisal in connection with a bona fide client relationship when such person directly contracts with an independent appraiser;
(5)
A certified public accountant or CPA firm regulated under chapter 1, part 1 of this title; or
(6)
(A)
A federally regulated AMC;
(B)
Notwithstanding subdivision (6)(A), any federally regulated AMC operating in this state shall report to the commission the information required to be submitted by the commission to the appraisal subcommittee pursuant to the appraisal subcommittee's policies regarding the determination of the AMC National Registry fee, including, but not limited to, the collection of information related to the limitations set forth in
12 C.F.R. 34.215
, as applicable.
Amended by 2017 Tenn. Acts, ch. 226, s 9, eff. 7/1/2017.
Acts 2010 , ch. 963, § 5.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-405 - Application for registration

An applicant for a registration as an appraisal management company shall submit to the commission an application containing information required in §
62-39-403(b)
on a form prescribed by the commission.
Acts 2010 , ch. 963, § 6.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-406 - Length of validity of registration

Registration shall be valid for two (2) years from its issuance.
Acts 2010, ch. 963, § 7.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-407 - Completion of irrevocable uniform consent to service of process

Each entity applying for a registration as an appraisal management company in Tennessee shall complete an irrevocable uniform consent to service of process, as prescribed by the commission.
Acts 2010, ch. 963, § 8.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-408 - Registration fees - Surety bond

(a)
The commission shall establish by rule and regulation the fee to be paid by each appraisal management company seeking registration under this part, such that the sum of the fees paid by all appraisal management companies seeking registration under this section shall be sufficient for the administration of this part. The commission shall charge and collect fees to be utilized to fund activities that may be necessary to carry out this chapter.
(b)
Each applicant for registration shall post with the commission and maintain on renewal a surety bond in the amount of twenty thousand dollars ($20,000). The details of the bond shall be prescribed by rule and regulation of the commission, however, the bond may not be used to assist appraisers in collection efforts of credit extended by the appraiser.
Acts 2010 , ch. 963, § 9.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-409 - Registration fees - Surety bond

(a)
(1)
An appraisal management company applying for a registration in this state shall not be owned, in whole or in part, directly or indirectly, by:
(A)
Any person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of revocation in any state for a substantive cause, as determined by the commission; or
(B)
An entity that is more than ten percent (10%) owned by any person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of revocation in any state for a substantive cause, as determined by the commission.
(2)
Each person who owns more than ten percent (10%) of an appraisal management company in this state shall:
(A)
Be of good moral character, as determined by the commission; and
(B)
Submit to a background investigation, as may be required by the commission.
(3)
The commission may, in its discretion, issue a registration to an appraisal management company that is ineligible under subdivision (a)(1), but is otherwise qualified, if the license or certificate of the appraiser with an ownership interest in the appraisal management company or the owning entity was not revoked for a substantive cause, as determined by the commission, and has been reinstated by the state or states in which the appraiser was licensed or certified.
(b)
Each appraisal management company applying for registration shall certify to the commission that it has reviewed each person with an ownership interest in the appraisal management company and that no person with an ownership interest in the appraisal management company has had an appraiser license or certificate to act as an appraiser refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation.
(c)
Each appraisal management company shall notify the commission within thirty (30) days of a change in its controlling principal, agent of record, or ownership composition.
Amended by 2020 Tenn. Acts, ch. 579, s 1, eff. 7/1/2020.
Amended by 2017 Tenn. Acts, ch. 226, s 10, eff. 7/1/2017.
Acts 2010 , ch. 963, § 10.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-410 - Designated controlling person

(a)
Each appraisal management company applying to the commission for a registration in this state shall designate one (1) controlling person who will be the main contact for all communication between the commission and the appraisal management company.
(b)
The designated controlling person pursuant to subsection (a) shall:
(1)
Have never had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of a pending revocation in any state;
(2)
Be of good moral character, as determined by the commission; and
(3)
Submit to a background investigation, as determined by the commission.
Acts 2010 , ch. 963, § 11.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-411 - Appraisal management company restrictions

An appraisal management company that applies to the commission for registration to do business in this state as an appraisal management company or a financial institution qualified under §
62-39-404(1)
shall not:
(1)
Employ any person directly involved in appraisal management services who has had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;
(2)
Knowingly enter into any independent contractor arrangement, whether in verbal, written, or other form, with any person who has had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;
(3)
Knowingly enter into any contract, agreement, or other business relationship directly involved with the performance of real estate appraisal or appraisal management services, whether in verbal, written, or any other form, with any entity that employs, has entered into an independent contract arrangement, or has entered into any contract, agreement, or other business relationship, whether in verbal, written, or any other form, with any person who has ever had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation.
Acts 2010 , ch. 963, § 12.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-412 - Assignments - Disclosures

(a)
Prior to placing an assignment, for real estate appraisal services within this state, with an appraiser on the appraiser panel of an appraisal management company, the appraisal management company shall have a system in place to verify that the appraiser receiving the assignment holds a credential in good standing in this state. Letters of engagement shall include instructions to the appraiser to decline the assignment in the event the appraiser is not geographically competent or the assignment falls outside the appraiser's scope of practice restrictions.
(b)
Each appraisal management company shall, at the request of the commission, provide the names of all persons on the AMC's appraisal panel and a list of all state appraisal licenses or certifications each appraiser on the panel holds, including the state of issuance, expiration date, and number of each certification or license, which the commission may verify.
Amended by 2017 Tenn. Acts, ch. 226, s 11, eff. 7/1/2017.
Acts 2010 , ch. 963, § 13.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-413 - License requirement for employees and independent contractors - Declining letters of engagement

Any employee or independent contractor of the appraisal management company who performs an appraisal review service on an appraisal done on real property located within Tennessee must be an individual who holds a license as defined in §
62-39-102
or certification as defined in §
62-39-102
. Letters of engagement shall include instructions to the appraiser to decline the appraisal review assignment in the event the appraiser is not geographically competent or the assignment falls outside the appraiser's scope of practice restrictions.
Acts 2010 , ch. 963, § 14.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-414 - Biennial certification of system and process of verification of licensure of individual being added to appraiser panel

Each appraisal management company seeking to be registered shall certify to the commission on a biennial basis on a form prescribed by the commission that the appraisal management company has a system and process in place to verify that an individual being added to the appraiser panel for appraisal services within Tennessee of the appraisal management company holds a license in good standing in this state pursuant to this chapter.
Amended by 2013 Tenn. Acts, ch. 180, s 12, eff. 4/23/2013.
Acts 2010 , ch. 963, § 15.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-415 - Biennial certification of system and process of verification of licensure of individual to whom appraisal management company is making assignments

Each appraisal management company seeking to be registered shall certify to the commission on a biennial basis on a form prescribed by the commission that the appraisal management company has a system in place to verify that an individual to whom the appraisal management company is making assignments for the completion of appraisals has not had a license or certification as an appraiser refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation on a regular basis.
Amended by 2013 Tenn. Acts, ch. 180, s 12, eff. 4/23/2013.
Acts 2010 , ch. 963, § 16.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-416 - Biennial certification of system for periodic appraisal review

Each registered appraisal management company shall certify to the commission on a biennial basis that it has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals in Tennessee for the appraisal management company to validate that the appraisals are being conducted in accordance with USPAP. An AMC shall report to the commission the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP, state laws or federal laws pertaining to appraisals.
Amended by 2013 Tenn. Acts, ch. 180, Secs.s 12, s 13 eff. 4/23/2013.
Acts 2010 , ch. 963, § 17.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-417 - Biennial certification of maintenance of detailed records

(a)
Each appraisal management company registered or seeking to be registered must certify to the commission biennially that it maintains a detailed record of each service request for appraisal services within this state that it receives and of each appraiser who performs an appraisal for the appraisal management company in this state.
(b)
The commission may examine the books and records of an appraisal management company operating in this state and require such an appraisal management company to submit such reports, information, and documents as the commission may reasonably require.
Amended by 2017 Tenn. Acts, ch. 226, s 12, eff. 7/1/2017.
Amended by 2013 Tenn. Acts, ch. 180, s 12, eff. 4/23/2013.
Acts 2010 , ch. 963, § 18.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-418 - Appraiser allowed to record fee appraiser paid for appraisal - Separate statement to client

(a)
An appraisal management company shall not prohibit an appraiser who is part of an appraiser panel from recording the fee that the appraiser was paid by the appraisal management company for the performance of the appraisal within the appraisal report that is submitted by the appraiser to the appraisal management company.
(b)
An appraisal management company shall separately state to the client, the fees paid to an appraiser for appraisal services and the fees charged by the appraisal management company for services associated with the management of the appraisal process, including procurement of the appraiser's services.
Acts 2010, ch. 963, § 19.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-419 - Improper influence - Proper requests for information

(a)
No employee, director, officer, or agent of an appraisal management company shall influence or attempt to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, inducement, intimidation, bribery or in any other manner, including but not limited to:
(1)
Withholding or threatening to withhold timely payment for an appraisal, except in cases of substandard performance or noncompliance with conditions of engagement;
(2)
Withholding or threatening to withhold future business, or demoting, terminating or threatening to demote or terminate an appraiser;
(3)
Expressly or impliedly promising future business, promotions, or increased compensation for an appraiser;
(4)
Conditioning the request for an appraisal or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary estimate or opinion requested from an appraiser;
(5)
Requesting 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;
(6)
Providing 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;
(7)
Providing to an appraiser, or any entity or person related to the appraiser, stock or other financial or nonfinancial benefits;
(8)
Allowing the removal of an appraiser from an appraiser panel, without prior written notice to such appraiser;
(9)
Any other act or practice that knowingly impairs or attempts to impair an appraiser's independence, objectivity, or impartiality;
(10)
Requiring an appraiser to collect an appraisal fee on behalf of the appraisal management company from the borrower, homeowner, or other third party; or
(11)
Requiring an 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 the appraisal management company, and not the services performed by the appraiser.
(b)
Nothing in subsection (a) shall prohibit the appraisal management company from requesting that an appraiser:
(1)
Provide additional information about the basis for a valuation; or
(2)
Correct objective factual errors in an appraisal report; or
(3)
Provide additional information within the appraisal regarding additional sales provided through an established dispute process.
Acts 2010, ch. 963, § 20.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-420 - Prohibited requirements

An appraisal management company shall not:
(1)
Require an appraiser to modify any aspect of an appraisal report unless the modification complies with §
62-39-419
;
(2)
Require an appraiser to prepare an appraisal if the appraiser, in the appraiser's own independent professional judgment, believes the appraiser does not have the necessary expertise for the assignment or for the specific geographic area and has notified the AMC and declined the assignment;
(3)
Require an appraiser to prepare an appraisal under a time frame that the appraiser, in the appraiser's own professional judgment, believes does not afford the appraiser the ability to meet all the relevant legal and professional obligations if the appraiser has notified the AMC and declined the assignment;
(4)
Prohibit or inhibit legal or other allowable communication between the appraiser and:
(A)
The lender;
(B)
A real estate licensee; or
(C)
Any other person from whom the appraiser, in the appraiser's own professional judgment, believes information would be relevant;
(5)
Knowingly require the appraiser to do anything that does not comply with:
(A)
USPAP;
(B)
The State Licensing and Certified Real Estate Appraisers Law, compiled in this chapter, or the rules promulgated thereunder; or
(C)
Any assignment conditions and certifications required by the client; or
(6)
Make any portion of the appraiser's fee or the AMC's fee contingent on a predetermined or favorable outcome, including but not limited to:
(A)
A loan closing; or
(B)
Specific dollar amount being achieved by the appraiser in the appraisal.
Acts 2010 , ch. 963, § 21.
2023 Tennessee Code › Title 62 - PROFESSIONS, BUSINESSES AND TRADES (§§ 62-1-101 — 62-76-203) › Chapter 39 - STATE LICENSING AND CERTIFIED REAL ESTATE APPRAISERS LAW (§§ 62-39-101 — 62-39-428) › Part 4 - TENNESSEE APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT (§§ 62-39-401 — 62-39-428) › Section 62-39-421 - Payment deadlines to appraisers

Each appraisal management company shall, except in cases of breach of contract or substandard performance of services, make payment to an appraiser for the completion of an appraisal or valuation assignment within sixty (60) days, unless a mutually agreed upon alternate payment schedule exists, from when the appraiser transmits or otherwise provides the completed appraisal or valuation study to the appraisal management company or its assignee.
Acts 2010, ch. 963, § 22.