§ 17-14-303 - Unlicensed persons -- Federally and nonfederally related transactions. - Arkansas Statutes

17-14-303. Unlicensed persons -- Federally and nonfederally related transactions.

(a) It is a Class B misdemeanor for any person who is not licensed or certified under the Arkansas Appraiser Licensing and Certification Act, 17-14-101 et seq., 17-14-201 et seq., and 17-14-301 et seq., to perform appraisal services as defined in the Arkansas Appraiser Licensing and Certification Act, 17-14-101 et seq., 17-14-201 et seq., and 17-14-301 et seq., in connection with a federally related transaction.

(b) An appraiser who does not hold an appraiser's classification that permits the performance of a particular appraisal assignment for use in federally related transactions must include in such an appraisal report a statement that the appraisal may not be eligible for use in a federally related transaction.