Indiana § 23-2.5-8-2 Real estate appraiser; influence; ownership or interest

Indiana Statutes

§ 23-2.5-8-2 — Real estate appraiser; influence; ownership or interest

Indiana § 23-2.5-8-2

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2.5LOAN BROKERS

Ch. 8Conduct of Business

This text of Indiana § 23-2.5-8-2 (Real estate appraiser; influence; ownership or interest) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-2.5-8-2 (2026).

Text

(a)A licensee or a person required to be licensed under this article shall not knowingly bribe, coerce, or intimidate another person to corrupt or improperly influence the independent judgment of a real estate appraiser with respect to the value of real estate offered as security for a residential mortgage loan.

(b)Except as provided in subsection (c):

(1)a licensee;

(2)a person required to be licensed under this article; or

(3)a member of the immediate family of a licensee; may not own or control a majority interest in an appraisal company.

(c)This subsection applies to a person or combination of persons described in subsection (b) who own or control a majority interest in an appraisal company on June 30, 2007. The prohibition set forth in subsection (b) does not apply to a person o

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(a) A licensee or a person required to be
licensed under this article shall not knowingly bribe, coerce, or
intimidate another person to corrupt or improperly influence the
independent judgment of a real estate appraiser with respect to the
value of real estate offered as security for a residential mortgage loan.
(b) Except as provided in subsection (c):
(1) a licensee;
(2) a person required to be licensed under this article; or
(3) a member of the immediate family of a licensee;
may not own or control a majority interest in an appraisal company.
(c) This subsection applies to a person or combination of persons
described in subsection (b) who own or control a majority interest in an
appraisal company on June 30, 2007. The prohibition set forth in
subsection (b) does not apply to a person or combination of persons
described in this subsection, subject to the following:
(1) The interest in the appraisal company owned or controlled by
the person or combination of persons shall not be increased after
June 30, 2007.
(2) The interest of a licensee shall not be transferred to a member
of the licensee's immediate family.
(3) If the commissioner determines that any person or
combination of persons described in subsection (b) has violated
this chapter, the commissioner may order one (1) or more of the
persons to divest their interest in the appraisal company. The
commissioner may exercise the remedy provided by this
subdivision in addition to, or as a substitute for, any other remedy
available to the commissioner under this article.