Texas Register
TITLE 22 EXAMINING BOARDS
PART 8TEXAS APPRAISER LICENSING AND CERTIFICATION BOARD
CHAPTER 159RULES RELATING TO THE PROVISIONS OF THE TEXAS APPRAISAL MANAGEMENT COMPANY REGISTRATION AND REGULATION ACT
RULE §159.156Business Records
ISSUE 09/01/2017
ACTION Proposed
Preamble Texas Admin Code Rule
(a)For the purposes of the requirement in §1104.156(c) of the AMC Act regarding retention of written records of substantive communications between an AMC and an appraiser, a communication is substantive if it relates to the appraiser's qualifications or to the scope of work of an assignment.

(b)An AMC may not require an appraiser to keep confidential the existence of the appraiser's business relationship with an AMC or the fact that the appraiser has received any specific assignment from the AMC to perform an appraisal.

(c)A business entity required to register [ registered] as an AMC must maintain documentation showing that it has complied with the requirements contained in its governing documents for changing officers or managers. The business entity must promptly provide to the Board upon request all business formation, ownership and representative authorization records and changes thereto required to be kept by the business entity by law.

(d)Written records include electronic records.

The agency certifies that legal counsel has reviewed the proposal and found it to be within the state agency's legal authority to adopt.

Filed with the Office of the Secretary of State on August 16, 2017

TRD-201703178

Kristen Worman

General Counsel

Texas Appraiser Licensing and Certification Board

Earliest possible date of adoption: October 1, 2017

For further information, please call: (512) 936-3652

 

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