Tennessee § 62-39-428 - Requirements for certain AMCs.
Full text of Tennessee Tennessee Code Annotated § 62-39-428 — Requirements for certain AMCs., with citation guidance and answers to common questions.
§ 62-39-428. Requirements for certain AMCs.
All AMCs operating in this state that are not owned and controlled by an insured depository institution and are not regulated by a federal financial institution's regulatory agency shall: Register with and be subject to supervision by the commission, unless otherwise exempt; For appraisals in this state, engage only state-certified or state-licensed appraisers holding a credential in good standing in this state; Establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience to competently complete the appraisal assignment for the particular market and property type; Direct the appraiser to perform the assignment in accordance with the USPAP; and Establish and comply with processes and controls reasonably designed to ensure that the AMC conducts its appraisal management services in accordance with the requirements of section 129E(a)-(i) of the Truth in Lending Act (15 U.S.C. § 1639e(a)-(i)) and regulations promulgated thereunder. Acts 2017, ch. 226, § 14.
Frequently Asked Questions About Tennessee § 62-39-428
What does Tennessee Code Annotated § 62-39-428 cover?
Section 62-39-428 ("Requirements for certain AMCs.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 62-39-428?
A common citation format is "Tennessee Code Annotated § 62-39-428" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 62-39-428 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.