22 Tex. Admin. Code § 159.4 - Exemptions
(a) This chapter does not apply to appraisal
management services provided:
(1) for the
appraisal of:
(A) commercial property;
or
(B) residential properties of
more than four units; or
(2) by persons exempted under §1104.004,
the AMC Act.
(b) For the
purposes of §1104.004 of the AMC Act:
(1)
a person exclusively employs appraisers on an employer and employee basis for
the performance of appraisals if the person does not also employ appraisers as
independent contractors or under any other arrangement;
(2) a person employs not more than 15
appraisers on an exclusive basis as independent contractors for the performance
of appraisals if:
(A) the person prohibits
the independent contractors from performing appraisals for others;
and
(B) the person does not employ
more than 15 appraisers as independent contractors at any time;
(3) a subsidiary of a financial
institution is not a department or unit within the institution;
(4) an AMC that requires an employee of the
AMC who is an appraiser who provided no significant real property appraisal
assistance to sign an appraisal that is completed by another appraiser who
contracts with the AMC, is not exempt from the registration requirement or
other requirements of the AMC Act; and
(5) an AMC has an appraisal panel of not more
than 15 appraisers at all times during a calendar year if:
(A) the AMC does not have more than 15
appraisers on its panel at any time; and
(B) an appraiser who has been removed from
the AMC's panel is not added back to the panel within 12 months after the date
of removal.
(c) A person may solicit prospective
panelists in anticipation of acting as an AMC without being registered as an
AMC, provided that it is registered prior to forming a panel, accepting an
appraisal assignment, or performing any other act constituting an appraisal
management service.
(d) For the
purposes of the AMC Act, a property is located in Texas if it is located wholly
or partly in the state.
Notes
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