Iowa § 543E.13 Recordkeeping — payment

Iowa Statutes

§ 543E.13 — Recordkeeping — payment

Iowa § 543E.13

Title XIIICOMMERCE

Ch. 543EREAL ESTATE APPRAISAL MANAGEMENT COMPANIES

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Bluebook

Iowa Code § 543E.13 (2026).

Text

1.An appraisal management company shall maintain a detailed record of each service request the appraisal management company receives involving real estate located in this state and the identity of the appraiser who performs the appraisal assignment. All such records shall be maintained for at least five years after the request is sent by the appraisal management company to the appraiser or the completion of the appraisal report, whichever period expires later. An appraisal management company shall maintain such additional records regarding appraisal management services performed in this state as the director may specify by rule.

2.An appraisal management company shall, except in the case of breach of contract or substandard performance of an appraisal service, make payment to an appraise

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1. An appraisal management company shall maintain a detailed record of each service
request the appraisal management company receives involving real estate located in this
state and the identity of the appraiser who performs the appraisal assignment. All such
records shall be maintained for at least five years after the request is sent by the appraisal
management company to the appraiser or the completion of the appraisal report, whichever
period expires later. An appraisal management company shall maintain such additional
records regarding appraisal management services performed in this state as the director
may specify by rule.
2. An appraisal management company shall, except in the case of breach of contract
or substandard performance of an appraisal service, make payment to an appraiser for
the completion of an appraisal service within forty-five days of the date on which the
appraiser transmits or otherwise provides the results of the completed appraisal service to
the appraisal management company. An appraisal management company shall maintain
detailed records to verify that all payments to appraisers have been made in compliance
with this section. All such records shall be maintained for at least five years after payment is
made or the completion of the appraisal service, whichever is later.