Utah § 2e-302 - Adherence to standards.

Full text of Utah Utah Code § 2e-302 — Adherence to standards., with citation guidance and answers to common questions.

§ 2e-302. Adherence to standards.

Effective 5/8/2018
61-2e-302.  Adherence to standards.
(1) An appraisal management company required to be registered under this chapter shall have a system in place to:
(a) ensure that the appraisal management company only selects for a real estate appraisal activity an appraiser who:
(i) is independent of the transaction; and
(ii) has the requisite education, expertise, and experience necessary to competently complete the real estate appraisal activity for the particular market and property type;
(b) review the work of an appraiser who performs a real estate appraisal activity for the appraisal management company on a periodic basis to ensure that a real estate appraisal activity is conducted in accordance with applicable appraisal standards; and
(c) ensure that the appraisal management company conducts appraisal management services in accordance with the requirements of the Truth in Lending Act, 15 U.S.C. Sec. 1639e(a)-(i), and the regulations thereunder.
(2) As part of the registration process under Part 2, Registration, an appraisal management company shall biennially provide an explanation of each system described in Subsection (1) in the form prescribed by the division.


Amended by Chapter 213, 2018 General Session

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Frequently Asked Questions About Utah § 2e-302

What does Utah Code § 2e-302 cover?

Section 2e-302 ("Adherence to standards.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 2e-302?

A common citation format is "Utah Code § 2e-302" (Utah). 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 Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 2e-302 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.