Montana Statutes
§ 37-54-416 — Retention Of Records
Montana·Title 37 PROFESSIONS AND OCCUPATIONS·Ch. 54 REAL ESTATE APPRAISERS·Part 4 Regulation of Practice
37-54-416 . Retention of records.
(1)A licensed or certified real estate appraiser shall retain for 5 years from the date of submission of an appraisal report to a client:
(a)an original or true copy of any written contract engaging the person's services as an appraiser;
(b)an appraisal report prepared or signed by the licensed or certified real estate appraiser; and
(c)all supporting data assembled and formulated by the licensed or certified real estate appraiser in preparing the appraisal report.
(2)If a licensed or certified real estate appraiser is notified within this 5-year period that the appraisal report is involved in litigation, the appraiser shall retain the appraisal report for 5 years from the final date of disposition of the litigation.
(3)The licensed or certified real
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Legislative History
En. Sec. 15, Ch. 409, L. 1991; amd. Sec. 1420, Ch. 56, L. 2009.
Nearby Sections
15
§ 37-54-101
Short Title§ 37-54-102
Definitions§ 37-54-103
And 37-54-104 Reserved§ 37-54-105
Powers And Duties Of Board§ 37-54-106
Through 37-54-109 Reserved§ 37-54-110
Repealed§ 37-54-111
Certificate Of Good Standing§ 37-54-112
Deposit Of Fees§ 37-54-113
Registry Fees -- Statutory Appropriation§ 37-54-202
Qualifications For Licensure§ 37-54-203
Repealed§ 37-54-204
Through 37-54-209 Reserved§ 37-54-210
Repealed§ 37-54-211
Repealed