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Texas Statutes (Last Updated: January 4, 2014) |
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OCCUPATIONS CODE |
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Title 7. PRACTICES AND PROFESSIONS RELATED TO REAL PROPERTY AND HOUSING |
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Subtitle A. PROFESSIONS RELATED TO REAL ESTATE |
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Chapter 1104. APPRAISAL MANAGEMENT COMPANIES |
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Subchapter D. PRACTICE BY APPRAISAL MANAGEMENT COMPANY |
Sec. 1104.151. EMPLOYMENT OF CERTAIN PERSONS PROHIBITED
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(a) An appraisal management company registered under this chapter may not knowingly:
(1) employ a person in a position in which the person has the responsibility to order appraisals or to review completed appraisals if the person has had a license or certificate to act as an appraiser denied, revoked, or surrendered in lieu of revocation in any state;
(2) enter into any independent contractor arrangement for the provision of appraisals or appraisal management services with any person who has had a license or certificate to act as an appraiser denied, revoked, or surrendered in lieu of revocation in any state; or
(3) enter into any contract, agreement, or other business relationship for the provision of appraisals or appraisal management services with any entity that employs, has entered into an independent contract arrangement, or has entered into any contract, agreement, or other business relationship with any person who has ever had a license or certificate to act as an appraiser denied, revoked, or surrendered in lieu of revocation in any state.
(b) An appraisal management company is not in violation of Subsection (a) if the person whose license or certification was denied, revoked, or surrendered in lieu of revocation has since that denial, revocation, or surrender had a license or certificate granted or reinstated and the person maintains the license or certificate in good standing.