California Business and Professions Code

§ 11345.3

BPC § 11345.3 Effective Jan 1, 2022Div. 4 · Part 3 · Ch. 4

Statute text

All appraisal management companies shall do all of the following:

(a)Ensure that all contracted appraisal panel members possess all required licenses and certificates from the bureau.

(b)Establish and comply with processes and controls reasonably designed to ensure that the appraisal management company, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite license, education, expertise, and experience necessary to competently complete the appraisal assignment for the particular market and property type.

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Legislative history

Amended by Stats. 2021, Ch. 431, Sec. 51. (SB 800) Effective January 1, 2022.