61-2e-104 - Exemption. - Utah Statutes

61-2e-104. Exemption.
This chapter does not apply to:
(1) an entity that:
(a) exclusively employs an individual on an employer-employee basis for theperformance of a real estate appraisal activity in the normal course of the entity's business; and
(b) is responsible for ensuring that the real estate appraisal activity being performed byan employee is performed in accordance with applicable appraisal standards;
(2) an individual who:
(a) is an appraiser; and
(b) in the normal course of business enters into an agreement, whether written orotherwise, with another appraiser for the performance of a real estate appraisal activity that theindividual cannot complete for any reason, including:
(i) competency;
(ii) work load;
(iii) schedule; or
(iv) geographic location;
(3) an individual who:
(a) in the normal course of business enters into an agreement, whether written orotherwise, with an appraiser for the performance of a real estate appraisal activity; and
(b) under the agreement, cosigns the report of the appraiser performing the real estateappraisal activity upon the completion of the real estate appraisal activity; or
(4) an appraisal management company that contracts with one or more appraisers for theperformance of fewer than 10 appraisals in this state in a calendar year.

Enacted by Chapter 269, 2009 General Session