Skip to main content
Find a Lawyer

Idaho Statutes Title 54. Professions, Vocations, and Businesses § 54-4127. Limitations on agreements

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) An appraisal management company applying to the board for a registration in this state shall not knowingly or through lack of diligence for the purpose of performing appraisals or appraisal management services:

(a) Employ any person who has had a license or certificate to act as an appraiser in this state or in any other state refused, denied, canceled, revoked or surrendered in lieu of revocation, unless the person has subsequently had the license or certificate to act as an appraiser granted or reinstated;

(b) Enter into any independent contractor arrangements, whether in verbal, written or other form, with any person who has had a license or certificate to act as an appraiser in this state refused, denied, canceled, revoked or surrendered in lieu of a revocation, unless the person has subsequently had the license or certificate to act as an appraiser granted or reinstated; and

(c) Enter into any contract, agreement or other business relationship relating to the appraisal of real property, whether in verbal, written or any other form, with any entity that employs, has entered into an independent contract arrangement, or has entered into any contract, agreement or other business relationship, whether in verbal, written or any other form, with any person who has ever had a license or certificate to act as an appraiser in this state or in any other state refused, denied, canceled, revoked or surrendered in lieu of revocation, unless the person has subsequently had the license or certificate to act as an appraiser granted or reinstated.

(2) Each appraisal management company seeking to be registered in this state shall certify to the board upon registration and renewal that it has a system in place to train those who select individual appraisers for real estate appraisal services in the state to ensure that the selectors have appropriate training in placing appraisal assignments. The board cannot require that any person under this subsection meet education requirements required of persons seeking or maintaining a license as an appraiser.

(3) An appraisal management company registered in this state shall not prohibit an independent appraiser that is part of an appraisal panel from recording the fee that the appraiser was paid by the AMC for the performance of the appraisal within the communication of the appraisal.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Idaho Statutes Title 54. Professions, Vocations, and Businesses § 54-4127. Limitations on agreements - last updated January 01, 2024 | https://codes.findlaw.com/id/title-54-professions-vocations-and-businesses/id-st-sect-54-4127/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard