Maine Statutes
§ 32 §14049-E — Compensation of appraisers
An appraisal management company shall compensate appraisers in accordance with the appraisal independence standards established under the federal Truth in Lending Act, 15 United States Code, Section 1639e (2016) and its implementing regulations, 12 Code of Federal Regulations, Section 1026.42 (2016). Except in cases of breach of contract or substandard performance of an appraisal service, an appraisal management company shall make payment to an appraiser for the completion of an appraisal service within 45 days of the date on which the appraiser transmits or otherwise provides the results of the completed appraisal service to the appraisal management company.
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Legislative History
PL 2017, c. 270, §1 (NEW). PL 2017, c. 475, Pt. D, §1 (REEN). MRSA T. 32 §14049-K, sub-§1 (RP).
Nearby Sections
12
§ 32 §14049
Denial of license§ 32 §14049-A
Appraiser panel§ 32 §14049-B
Appraiser engagement§ 32 §14049-C
Appraisal review§ 32 §14049-E
Compensation of appraisers§ 32 §14049-F
Statement of fees§ 32 §14049-G
Prohibited practices§ 32 §14049-H
Mandatory reporting§ 32 §14049-I
Appraiser panel management§ 32 §14049-J
Board powers§ 32 §14049-K
Repeal; board report