61-2b-27 - Professional conduct -- Uniform standards. - Utah Statutes

61-2b-27. Professional conduct -- Uniform standards.
(1) (a) A person licensed, certified, registered, or approved as an expert witness underthis chapter must comply with:
(i) generally accepted standards of professional appraisal practice; and
(ii) generally accepted ethical rules to be observed by a real estate appraiser.
(b) Subject to Subsection (1)(c), generally accepted standards of professional appraisalpractice are evidenced by the Uniform Standards of Professional Appraisal Practice promulgatedby the Appraisal Foundation.
(c) After a public hearing held in accordance with Title 63G, Chapter 3, UtahAdministrative Rulemaking Act, the board:
(i) shall adopt and may make modifications of or additions to the Uniform Standards ofProfessional Appraisal Practice as the board considers appropriate to comply with the FinancialInstitutions Reform, Recovery, and Enforcement Act of 1989; or
(ii) may by rule made in accordance with Title 63G, Chapter 3, Utah AdministrativeRulemaking Act, exempt a person licensed, certified, registered, or approved as an expert witnessfrom complying with a provision of the Uniform Standards of Professional Appraisal Practice foran activity that the person engages in on behalf of a governmental entity.
(2) The board shall schedule a public hearing pursuant to Title 63G, Chapter 3, UtahAdministrative Rulemaking Act, for the purpose of deciding whether or not the board shouldrequire a modified or supplemental standard or the ethical rule to be observed by a personlicensed, certified, registered, or approved as an expert witness under this chapter if the AppraisalStandards Board of the Appraisal Foundation:
(a) (i) modifies the Uniform Standards of Professional Appraisal Practice;
(ii) issues a supplemental appraisal standard which it considers appropriate for:
(A) a residential real estate appraiser; or
(B) a general real estate appraiser; or
(iii) issues an ethical rule to be observed by a real estate appraiser; and
(b) requests the board to consider the adoption of the modified or supplemental standardor ethical rule.
(3) If, after the notice and public hearing described in Subsection (2), the board finds thata modified or supplemental standard or the ethical rule issued by the Appraisal Standards Boardof the Appraisal Foundation is appropriate for a person licensed, certified, registered, or approvedas an expert witness under this chapter, the board shall recommend a rule requiring a personlicensed, certified, registered, or approved as an expert witness under this chapter to observe themodified or supplemental standard or the ethical rule.

Amended by Chapter 352, 2009 General Session