Utah Administrative Code
Topic - Commerce
Title R162 - Real Estate
Rule R162-2e - Appraisal Management Company Administrative Rules
Section R162-2e-303 - Recordkeeping
Universal Citation: UT Admin Code R 162-2e-303
Current through Bulletin 2024-18, September 15, 2024
An AMC's statement of recordkeeping required upon registration with the division and biennially thereafter shall be signed by its designated controlling person and shall describe:
(1) its system for maintaining a record of:
(a)
(i) the
name of the appraiser who accepts each assignment and signs the corresponding
appraisal report; and
(ii) if an
assignment is accepted by an appraisal entity, the name of the entity that
accepts the assignment; and
(b) the client that requested the appraisal
report;
(2) the format in which the records required to be kept under Section 61-2e-303(1) are maintained;
(3) an explanation of the system through which the AMC backs up any records kept as required by Section 61-2e-303(1) that are maintained in an electronic format;
(4) the location where the records are kept; and
(5) the name of the records custodian.
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