Alaska Statutes 08.87.130 – Registration required

(a) A person shall register as a real estate appraisal management company with the board to perform appraisal management services if the person

Attorney's Note

Under the Alaska Statutes, punishments for crimes depend on the classification. In the case of this section:

Class	Prison	Fine
Class B misdemeanor	up to 90 days	up to $2,000

For details, see Alaska Stat. § 12.55.135

Terms Used In Alaska Statutes 08.87.130

Appraisal: A determination of property value.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060

(1) provides an appraisal management service

(A) to a creditor or secondary mortgage market participant, including an affiliate; and

(B) in connection with valuing a borrower’s principal dwelling as security for a consumer credit transaction or incorporating consumer credit transactions into a securitization; and

(2) oversees an appraiser panel.

(b) A person is guilty of a class B misdemeanor if the person engages in business as or holds out as a real estate appraisal management company, or performs or attempts to perform appraisal management services, at a time when the

(1) person does not hold a registration issued by the board; or

(2) registration issued by the board to the person is suspended, revoked, lapsed, or surrendered.

Previous section

Next section

Article 3 Contents