Current as of April 27, 2021 | Updated by FindLaw Staff
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.
(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 estate appraiser shall make available to the board at reasonable times, for inspection and copying, any appraisal report the appraiser is required to maintain under the provisions of this section.
Cite this article: FindLaw.com - Montana Title 37. Professions and Occupations § 37-54-416. Retention of records - last updated April 27, 2021 | https://codes.findlaw.com/mt/title-37-professions-and-occupations/mt-code-ann-sect-37-54-416.html
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 or via Westlaw before relying on it for your legal needs.
Was this helpful?