Nevada Administrative Code
Chapter 677 - Thrift Companies
AUDITS, EXAMINATIONS AND APPRAISALS
Section 677.320 - Appraisers

1. Only those employees of a thrift company and independent appraisers who have received prior letters of acquiescence from the Commissioner may appraise collateral taken by the company as security for a loan.

2. Before the Commissioner will acquiesce in the making of such appraisals by an employee of a thrift company or an independent appraiser, the employee or independent appraiser must submit an application to the Commissioner for his acquiescence. The application must be on a form provided by the Commissioner.

3. Before the Commissioner will acquiesce in the making of such appraisals by an employee of a thrift company, the employee must submit adequate proof to the Commissioner that he has completed a qualified course in appraisals or that he has substantial prior experience or that he has completed at least 20 appraisals under the direction of a company employee who has received a letter of acquiescence from the Commissioner to make appraisals.

4. A copy of the Commissioner's letter of acquiescence for each appraiser must be kept on file by the thrift company in each office in which his appraisals are being used.