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§ 16-5B-14. Payment of appraisers for appraisals or valuation assignments

West's Annotated Code of MarylandBusiness Occupations and ProfessionsEffective: October 1, 2018

West's Annotated Code of Maryland
Business Occupations and Professions
Title 16. Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors (Refs & Annos)
Subtitle 5b. Real Estate Appraisal Management Companies (Refs & Annos)
Effective: October 1, 2018
MD Code, Business Occupations & Professions, § 16-5B-14
§ 16-5B-14. Payment of appraisers for appraisals or valuation assignments
Currentness
Timeliness of payment
(a) Except in cases of breach of contract or substandard performance of services, an appraisal management company shall pay an appraiser for the completion of each appraisal or valuation assignment within 45 days after the appraiser provides the initial completed appraisal or valuation study to the appraisal management company or its assignee.
Disciplinary action
(b)(1) The Commission may bring a disciplinary action under § 16-701.2 of this title based on a violation of subsection (a) of this section.
(2) The Commission may not recommend criminal sanctions under § 16-706 of this title based solely on subsection (a) of this section.

Credits

Added by Acts 2011, c. 269, § 1, eff. July 1, 2011; Acts 2011, c. 270, § 1, eff. July 1, 2011. Amended by Acts 2018, c. 759, § 1, eff. Oct. 1, 2018.
MD Code, Business Occupations & Professions, § 16-5B-14, MD BUS OCCUP & PROF § 16-5B-14
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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