(1) Amending the appraiser panel list is defined as the addition or deletion of a licensed or certified appraiser from the appraisal management company's appraiser panel.

(2) A registered appraisal management company must notify the board of any amendment to its appraiser panel list within ten days of the amendment. Except as provided in (3) or (4), an appraisal management company that amends its appraiser panel list must pay the amendment fee specified in ARM 24.207.401.

(3) An appraisal management company is exempt from paying the amendment fee for deleting or removing an appraiser as a result of documented violations of the Uniform Standards of Professional Appraisal Practice (USPAP).

(4) An appraisal management company must submit a current and complete list of all panel members with the renewal application annually. Additions and deletions submitted with the renewal application will not be assessed the amendment fee.

History: 37-1-131, 37-54-105, MCA; IMP, 37-1-131, 37-54-501, 37-54-509, 37-54-510, MCA; NEW, 2011 MAR p. 2401, Eff. 11/11/11.