61-2b-36 - Contingent fees. - Utah Statutes

61-2b-36. Contingent fees.
(1) A person licensed or certified under this chapter who enters into an agreement toperform an appraisal may not accept a contingent fee.
(2) A person licensed or certified under this chapter who enters into an agreement toprovide consultation services may be paid a fixed fee or a contingent fee.
(3) (a) If a person licensed or certified under this chapter enters into an agreement toperform consultation services for a contingent fee, this fact shall be clearly stated in each oralstatement.
(b) In addition to the requirements of Subsection (3)(a), if a person licensed or certifiedunder this chapter prepares a written consultation report or summary, letter of transmittal, orcertification statement for a contingent fee, the person shall clearly state in the report, summary,letter of transmittal, or certification statement that the report is prepared under a contingent feearrangement.

Amended by Chapter 379, 2010 General Session