§ 17-14-303 — Unlicensed persons - Federally and nonfederally related transactions

(a) It is a Class B misdemeanor for any person who is not licensed, registered, or certified under the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., to perform appraisal services as defined in the Arkansas Appraiser Licensing and Certification Act, § 17-14-101 et seq., § 17-14-201 et seq., and § 17-14-301 et seq., in connection with a federally related transaction. (b) An appraiser who does not hold an appraiser's classification that permits the performance of a particular appraisal assignment for use in federally related transactions must include in such an appraisal report a statement that the appraisal may not be eligible for use in a federally related transaction.

Legislative History

Amended by Act 2019, No. 514,§ 10, eff. 7/24/2019. Acts 1991, No. 416, § 10; 1991, No. 541, § 10; 2001, No. 1256, § 11; 2005, No. 1994, § 472; 2009, No. 628, § 15.