An appraisal management company that applies to the commission for registration to do business in this state as an appraisal management company or a financial institution qualified under § 62-39-404(1) shall not:

(1) Employ any person directly involved in appraisal management services who has had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;

Terms Used In Tennessee Code 62-39-411

  • Appraisal: A determination of property value.
  • Appraisal: means the act or process of developing an opinion of value of identified real estate. See Tennessee Code 62-39-402
  • Appraisal management services: means one (1) or more of the following:
    (A) Recruiting, selecting, and retaining appraisers. See Tennessee Code 62-39-402
  • Appraiser: means an individual who holds a license under part 1 of this chapter. See Tennessee Code 62-39-402
  • Commission: means the real estate appraiser commission created by §. See Tennessee Code 62-39-402
  • Contract: A legal written agreement that becomes binding when signed.
  • Person: means a natural person or an entity, including a corporation, limited liability company, partnership, sole proprietorship, association, cooperative, estate, trust, or government unit. See Tennessee Code 62-39-402
  • Real estate: means an identified parcel or tract of land, including improvements, if any. See Tennessee Code 62-39-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) Knowingly enter into any independent contractor arrangement, whether in verbal, written, or other form, with any person who has had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;
(3) Knowingly enter into any contract, agreement, or other business relationship directly involved with the performance of real estate appraisal or appraisal management services, whether in verbal, written, or any other form, with any entity that employs, has entered into an independent contract arrangement, or has entered into any contract, agreement, or other business relationship, whether in verbal, written, or any other form, with any person who has ever had a license or certificate to act as an appraiser in Tennessee or in any other state, refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation.
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