2006 Utah Code - 61-2b-27 — Professional conduct -- Uniform standards.

     61-2b-27.   Professional conduct -- Uniform standards.
     (1) (a) Each person licensed, certified, or registered as an expert witness under this chapter must comply with generally accepted standards of professional appraisal practice and generally accepted ethical rules to be observed by a real estate appraiser.
     (b) Generally accepted standards of professional appraisal practice are evidenced by the Uniform Standards of Professional Appraisal Practice promulgated by the Appraisal Foundation.
     (c) After a public hearing held in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act, the board shall adopt and may make modifications of or additions to the Uniform Standards of Professional Appraisal Practice as the board considers appropriate to comply with the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
     (2) If the Appraisal Standards Board of the Appraisal Foundation modifies the Uniform Standards of Professional Appraisal Practice, issues supplemental appraisal standards which it considers appropriate for residential real estate appraisers or for general real estate appraisers, or issues ethical rules to be observed by a real estate appraiser and requests the board to consider the adoption of the modified or supplemental standards or ethical rules, the board shall schedule a public hearing pursuant to Title 63, Chapter 46a, Utah Administrative Rulemaking Act, for the purpose of deciding whether or not the board should require the modified or supplemental standards or the ethical rules to be observed by persons licensed, certified, or registered as an expert witness under this chapter.
     (3) If, after the notice and public hearing, the board finds that the modified or supplemental standards or the ethical rules issued by the Appraisal Standards Board of the Appraisal Foundation are appropriate for persons licensed, certified, or registered as an expert witness under this chapter, the board shall recommend rules requiring all persons licensed, certified, or registered as an expert witness under this chapter to observe the modified or supplemental standards or the ethical rules.

Amended by Chapter 199, 2005 General Session