A. Any person, party or entity who hires, engages or communicates with an appraiser directly or through an agent shall not require or attempt to require the appraiser to sign any indemnification agreement that would hold harmless the hiring person, party or entity, its owners, agent’s employees or independent contractors from any liability, damage, loss or claim arising from the services performed by the person, party or entity, its owners, agent’s employees or independent contractors.
Terms Used In Arizona Laws 32-3640
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
B. This section does not limit liability for services performed by the appraiser.