New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS
Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES
Section 13:40A-9.9 - Notification to the Board regarding material violation

Universal Citation: NJ Admin Code 13:40A-9.9

Current through Register Vol. 56, No. 18, September 16, 2024

(a) An appraisal management company shall inform the Board when the appraisal management company has a reasonable basis to believe that an appraiser has committed a material violation of:

1. The Uniform Standards of Professional Appraisal Practice;

2. Applicable laws; or

3. Ethical or professional conduct.

(b) An appraisal management company shall provide the Board with all information in the possession of the appraisal management company in support of any information compiled against an appraiser under this section, including any evidence to support the determination that an appraisal management company has probable cause of a material violation of the Uniform Standards of Professional Appraisal Practice, applicable laws, or ethical or professional conduct.

(c) For purposes of this section, "a material violation" is one that is likely to affect the value assigned to a consumer's principal dwelling.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.