Real estate appraisal activity: means the same as that term is defined in Section 61-2g-102. See Utah Code 61-2e-102
(a)
exclusively employs an individual on an employer-employee basis for the performance of a real estate appraisal activity in the normal course of the entity’s business;
(b)
is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; and
(c)
is a federally regulated appraisal management company;
(2)
an individual who:
(a)
is an appraiser; and
(b)
in the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including:
(i)
competency;
(ii)
work load;
(iii)
schedule; or
(iv)
geographic location; or
(3)
an individual who:
(a)
in the normal course of business enters into an agreement, whether written or otherwise, 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 estate appraisal activity upon the completion of the real estate appraisal activity.
