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§ 858-820. Prohibited acts

Oklahoma Statutes AnnotatedTitle 59. Professions and Occupations

Oklahoma Statutes Annotated
Title 59. Professions and Occupations (Refs & Annos)
Chapter 20. Oklahoma Real Estate License Code
Article VIII. Oklahoma Appraisal Management Company Regulation Act
59 Okl.St.Ann. § 858-820
§ 858-820. Prohibited acts
Currentness
An AMC shall not perform or attempt to perform any one or more of the following acts:
1. Require an appraiser to modify any aspect of an appraisal unless the modification complies with Section 858-819 of this title;
2. Require an appraiser to prepare an appraisal if the appraiser, in the appraiser's own independent professional judgment, believes the appraiser does not have the necessary expertise for the assignment or for the specific geographic area and has notified the AMC and declined the assignment;
3. Require an appraiser to prepare an appraisal under a time frame that the appraiser, in the appraiser's own professional judgment, believes does not afford the appraiser the ability to meet all the relevant legal and professional obligations and has notified the AMC and declined the assignment;
4. Prohibit or inhibit legal or other allowable communication between the appraiser and:
a. the lender,
b. a real estate licensee, or
c. any other person from whom the appraiser, in the appraiser's own professional judgment, believes information would be relevant;
5. Requires the appraiser to do anything that does not comply with:
a. USPAP,
b. the Oklahoma Certified Real Estate Appraisers Act or the rules promulgated thereunder, or
c. any assignment conditions and certifications required by the client; or
6. Makes any portion of the appraiser's fee or the AMC's fee contingent on a predetermined or favorable outcome, including but not limited to:
a. a loan closing, or
b. specific dollar amount being achieved by the appraiser in the appraisal.

Credits

Laws 2010, c. 364, § 20, eff. Jan. 1, 2011; Laws 2016, c. 195, § 7, eff. Nov. 1, 2016.
59 Okl. St. Ann. § 858-820, OK ST T. 59 § 858-820
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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