2019 New York Laws
EXC - Executive
Article 6-H - Real Estate Appraisal Management Companies
160-LLLL - Recordkeeping.
§ 160-llll. Recordkeeping. Each appraisal management company shall maintain a detailed record of each service request that it receives and the real estate appraiser that performs such appraisal for the appraisal management company. Records shall be maintained for a period of at least five years after such appraisal is completed or two years after final disposition of a judicial proceeding related to such assignment, whichever period expires later. Appraisal management companies shall make records available to the department upon request. Appraisal management companies shall also allow the department to examine the books and records of the appraisal management company and require it to submit reports, information and documents upon request. Appraisal management companies shall also allow the department to verify that the appraisers on such panel hold a valid license or certification.
