Maryland Business Occupations and Professions Section 16-401

Article - Business Occupations and Professions

§ 16-401.

      (a)      Subject to the provisions of subsection (b) of this section, a licensed real estate appraiser shall keep, for 5 years from the date of delivery to the client, the original or a copy of:

            (1)      each contract the licensee enters into for the provision of real estate appraisal services;

            (2)      each appraisal report the licensee prepares or signs; and

            (3)      all supporting data that the licensee assembles or formulates to prepare an appraisal report.

      (b)      If, within the 5-year period for the retention of records, a licensed real estate appraiser is given notice that an appraisal or appraisal report is involved in litigation, a new 5-year period shall start on the date of the final disposition of the litigation.

      (c)      On request, a licensed real estate appraiser shall make any record required to be kept under this section available to the Commission to inspect or copy.



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