Texas § OC.1104.004 - EXEMPTIONS
Full text of Texas The Texas Constitution § OC.1104.004 — EXEMPTIONS, with citation guidance and answers to common questions.
§ OC.1104.004. EXEMPTIONS
EXEMPTIONS. (a) This chapter does not apply to: (1) a person who exclusively employs appraisers on an employer and employee basis for the performance of appraisals; (2) a person acting as an appraisal firm as defined by board rule that at all times during a calendar year employs on an exclusive basis as independent contractors not more than 15 appraisers for the performance of appraisals; (3) a financial institution, including a department or unit within the institution, that is regulated by an agency of this state or the United States government; (4) subject to Subsection (b), a person who enters into an agreement with an appraiser for the performance of an appraisal that on completion results in a report signed by both the appraiser who completed the appraisal and the appraiser who requested completion of the appraisal; (5) an appraisal management company: (A) operating only in this state with an appraisal panel of not more than 15 appraisers at all times during a calendar year; or (B) operating in multiple states, including this state, with an appraisal panel of not more than 24 appraisers in all states at all times during a calendar year; (6) an appraisal management company that is a subsidiary owned and controlled by a financial institution that is subject to appraisal independence standards at least as stringent as those under Section 1104.203 or the Truth in Lending Act (15 U.S.C. Section 1601 et seq.) through regulation by an agency of this state or the United States government; or (7) subject to Section 1104.052 (c), a federally regulated appraisal management company. (b) An appraisal management company may not require an employee of the appraisal management company who is an appraiser to sign an appraisal that is completed by another appraiser who contracts with the appraisal management company in order to avoid the requirements of this chapter. Added by Acts 2011, 82nd Leg., R.S., Ch. 256 (H.B. 1146 ), Sec. 2, eff. September 1, 2011. Amended by: Acts 2017, 85th Leg., R.S., Ch. 107 (S.B. 1516 ), Sec. 2, eff. September 1, 2017. SUBCHAPTER B. BOARD POWERS AND DUTIES
Frequently Asked Questions About Texas § OC.1104.004
What does The Texas Constitution § OC.1104.004 cover?
Section OC.1104.004 ("EXEMPTIONS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § OC.1104.004?
A common citation format is "The Texas Constitution § OC.1104.004" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § OC.1104.004 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.