2018 Mississippi Code
Title 73 - Professions and Vocations
Chapter 34 - Real Estate Appraisers
Mississippi Appraisal Management Company Registration Act
§ 73-34-113. Prohibited acts; required acts.

Universal Citation: MS Code § 73-34-113 (2018)
  • (1) An appraisal management company doing business in this state as an appraisal management company shall not:

    • (a) Knowingly employ any individual to perform appraisal services, who has had a license or certificate to act as an appraiser in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked; or

    • (b) Knowingly enter into any independent contractor arrangement for the performance of appraisal services, in verbal, written, or other form, with any individual who has had a license or certificate to act as an appraiser in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked.

  • (2) Before assigning appraisal orders, the appraisal management company shall have a system in place to verify that a person being added to the appraiser panel holds the appropriate appraiser credential in good standing.

  • (3) Each appraisal management company doing business as an appraisal management company shall certify to the commission on an annual basis on a form prescribed by the commission that the appraisal management company has systems in place to verify that:

    • (a) An individual on the appraiser panel has not had a license or certification as an appraiser refused, denied, cancelled, revoked or surrendered in lieu of a pending revocation in the previous twelve (12) months; and

    • (b) Only licensed or certified appraisers are used to complete appraisal assignments in connection with federally related transactions.

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