Rutgers Law

New Jersey Statutes, Title: 45, PROFESSIONS AND OCCUPATIONS

    Chapter 14f:

      Section: 45:14f-38: Violations.

          12. A violation of this section may constitute grounds for discipline against an appraisal management company registered in this State. However, nothing in this act shall be construed as preventing an appraisal management company from requesting that an appraiser provide additional information about the basis for a valuation, correct objective factual errors in an appraisal report, or consider additional appropriate property information. No employee, director, officer, agent, independent contractor, or other third party acting on behalf of an appraisal management company shall do any of the following:

a. procure or attempt to procure a registration or renewal by knowingly making a false statement, submitting false information, or refusing to provide complete information in response to a question in an application for registration or renewal;

b. willfully violate this act or rules of the board pertaining thereto;

c. improperly influence or attempt to improperly influence the development, reporting, result, or a review of an appraisal through intimidation, coercion, extortion, bribery, or any other manner, including:

(1) withholding payment for appraisal services;

(2) threatening to exclude an appraiser from future work or threatening to demote or terminate in order to improperly obtain a desired result;

(3) conditioning payment of an appraisal fee upon the opinion, conclusion, or valuation to be reached; or

(4) requesting that an appraiser report a predetermined opinion, conclusion, or valuation or the desired valuation of any person or entity;

d. alter, amend, or change an appraisal report submitted by an appraiser without the appraiser's knowledge and written consent;

e. except within the first 90 days after an independent appraiser is added to an appraiser panel, remove an independent appraiser from an appraiser panel without prior written notice to the appraiser, with the prior written notice including evidence of the following, if applicable:

(1) the appraiser's illegal conduct;

(2) a violation of the Uniform Standards of Professional Appraiser Practice, this act or the rules adopted by the board;

(3) improper or unprofessional conduct; and

(4) substandard performance or other substantive deficiencies;

f. require an appraiser to sign any indemnification agreement that would require the appraiser to defend and hold harmless the appraisal management company or any of its agents or employees for any liability, damage, losses, or claims arising out of the services performed by the appraisal management company or its agents, employees, or independent contractors and not the services performed by the appraiser;

g. prohibit lawful communications between the appraiser and any other person who the appraiser, in the appraiser's professional judgment, believes possesses information that would be relevant;

h. engage in any other act or practice that impairs or attempts to impair a real estate appraiser's independence, objectivity, and impartiality;

i. fail to timely respond to any subpoena or any other request for information;

j. fail to timely obey an administrative order of the board; or

k. fail to fully cooperate in any investigation.

L.2017, c.72, s.12.

This section added to the Rutgers Database: 2017-05-25 17:41:02.

Older versions of 45:14f-38 (if available):

Court decisions that cite this statute: CLICK HERE.