Iowa § 543E.12 Adherence to standards — mandatory reporting

Iowa Statutes

§ 543E.12 — Adherence to standards — mandatory reporting

Iowa § 543E.12

Title XIIICOMMERCE

Ch. 543EREAL ESTATE APPRAISAL MANAGEMENT COMPANIES

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Bluebook

Iowa Code § 543E.12 (2026).

Text

1.An appraisal management company shall direct all appraisers it requests to perform appraisal assignments involving real estate located in this state to comply with the uniform standards of professional appraisal practice, including the competency rule.

2.An appraisal management company shall have an appraisal review system in place to monitor compliance with subsection 1.

3.An appraisal management company that has a reasonable basis to believe an appraiser has materially failed to comply with the uniform standards of professional appraisal practice or has otherwise materially violated chapter 543D or this chapter shall refer the matter to the director in conformance with applicable federal law and regulations. An appraisal management company that has a reasonable basis to believe anot

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1. An appraisal management company shall direct all appraisers it requests to perform
appraisal assignments involving real estate located in this state to comply with the uniform
standards of professional appraisal practice, including the competency rule.
2. An appraisal management company shall have an appraisal review system in place to
monitor compliance with subsection 1.
3. An appraisal management company that has a reasonable basis to believe an appraiser
has materially failed to comply with the uniform standards of professional appraisal practice
or has otherwise materially violated chapter 543D or this chapter shall refer the matter
to the director in conformance with applicable federal law and regulations. An appraisal
management company that has a reasonable basis to believe another appraisal management
company is failing to comply with the provisions of this chapter shall refer the matter to the
director in conformance with section 272C.9, subsection 2.
4. An appraiser who is employed by or is on the appraiser panel of an appraisal
management company registered under this chapter who has a reasonable basis to believe
the appraisal management company is in violation of this chapter shall refer the matter to
the director.