Section 16-401 - Records. - Maryland Statutes

§ 16-401. Records.
 

(a)  Retention generally.- Subject to the provisions of subsection (b) of this section, a licensed real estate appraiser shall keep, for 5 years from the date of delivery to the client, the original or a copy of: 

(1) each contract the licensee enters into for the provision of real estate appraisal services; 

(2) each appraisal report the licensee prepares or signs; and 

(3) all supporting data that the licensee assembles or formulates to prepare an appraisal report. 

(b)  Time period.- If, within the 5-year period for the retention of records, a licensed real estate appraiser is given notice that an appraisal or appraisal report is involved in litigation, a new 5-year period shall start on the date of the final disposition of the litigation. 

(c)  Extension of time period.- On request, a licensed real estate appraiser shall make any record required to be kept under this section available to the Commission to inspect or copy. 
 

[1990, ch. 594; 1994, ch. 3, § 13; 2001, ch. 470.]