§ 12-10-616 — Unlawful acts - penalties

(1) It is unlawful for a person to:

(a) Violate section 12-10-613 (1)(c), (1)(e), or (1)(f) or perform a real estate
appraisal without first having obtained a license or certificate from the board
pursuant to this part 6;

(b) Accept a fee for an independent appraisal assignment that is contingent
upon:

(I) Reporting a predetermined analysis, opinion, or conclusion; or

(II) The analysis, opinion, or conclusion reached; or

(III) The consequences resulting from the analysis, opinion, or conclusion;

(c) Misrepresent a consulting service as an independent appraisal; or

(d) Fail to disclose, in connection with a consulting service for which a
contingent fee is or will be paid, the fact that a contingent fee is or will be paid.

(2) Any person who violates any provision of subsection (1) of this section
commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. Any person who subsequently violates any provision of subsection (1) of this
section within five years after the date of a conviction for a violation of subsection
(1) of this section commits a class 5 felony and shall be punished as provided in
section 18-1.3-401.

Legislative History

Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 682, � 1, effective October 1. L. 2021: (2) amended, (SB 21-271), ch. 462, p. 3153, � 136, effective March 1, 2022.