2020 District of Columbia Code
Title 31 - Insurance and Securities
Chapter 23R - Appraisal Management Company Regulation
§ 31–2361.03. Appraisal panel size and calculation

(a) For purposes of determining whether a person is an appraisal management company within the meaning of § 31-2361.01(4), an appraiser is deemed part of an appraiser panel as of the earliest date on which the person overseeing the appraisal panel:

(1) Accepts the appraiser for consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions; or

(2) Engages the appraiser to perform one or more appraisals on behalf of a creditor for covered transactions or secondary mortgage market participant in connection with covered transactions.

(b) An appraiser who is deemed part of an appraiser panel pursuant to subsection (a) of this section is deemed to remain on the panel until the date on which the person overseeing the appraisal panel:

(1) Sends written notice to the appraiser removing the appraiser from the appraiser panel, with an explanation of its action; or

(2) Receives written notice from the appraiser asking to be removed from the appraiser panel or notice of the death or incapacity of the appraiser.

(c) If an appraiser is removed from an appraiser panel pursuant to subsection (b)(2) of this section, but the person overseeing the appraisal panel subsequently accepts the appraiser for consideration for future assignments or engages the appraiser at any time during the 12 months after the appraiser's removal, the removal will be deemed not to have occurred, and the appraiser will be deemed to have been part of the appraiser panel without interruption.

(Mar. 16, 2021, D.C. Law 23-206, § 103, 68 DCR 00057.)

For temporary (90 days) creation of this section, see § 103 of Appraisal Management Company Regulation Emergency Act of 2019 (D.C. Act 23-110, July 31, 2019, 66 DCR 178).

For temporary (225 days) creation of this section, see § 103 of Appraisal Management Company Regulation Temporary Act of 2020 (D.C. Law 23-140, Oct. 20, 2020, 67 DCR 9891).