Utah § 61-2e-104 Exemption.

Utah Statutes

§ 61-2e-104 — Exemption.

Utah § 61-2e-104

Title 61Securities Division - Real Estate Division

Ch. 61-2eAppraisal Management Company Registration and Regulation Act

Part 61-2e-1General Provisions

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Bluebook

Utah Code Ann. § 61-2e-104 (2026).

Text

This chapter does not apply to:

(1)an entity that:

(1)(a) exclusively employs an individual on an employer-employee basis for the performance of a real estate appraisal activity in the normal course of the entity's business;

(1)(b) is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; and

(1)(c) is a federally regulated appraisal management company;

(2)an individual who:

(2)(a) is an appraiser; and

(2)(b) in the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including:

(2)(b)(i) competency;

(2)(b)(ii) work load;

(2)

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This chapter does not apply to:
(1) an entity that:

(1)(a) exclusively employs an individual on an employer-employee basis for the performance of a real estate appraisal activity in the normal course of the entity's business;
(1)(b) is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; and
(1)(c) is a federally regulated appraisal management company;
(2) an individual who:

(2)(a) is an appraiser; and
(2)(b) in the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including:
(2)(b)(i) competency;
(2)(b)(ii) work load;
(2)(b)(iii) schedule; or
(2)(b)(iv) geographic location; or
(3) an individual who:

(3)(a) in the normal course of business enters into an agreement, whether written or otherwise, with an appraiser for the performance of a real estate appraisal activity; and
(3)(b) under the agreement, cosigns the report of the appraiser performing the real estate appraisal activity upon the completion of the real estate appraisal activity.