Relating to the regulation of real estate appraisers and appraisal management companies.

Contracts

• Independent Contractor Agreements (ICAs): Insert a mandatory Representation & Warranty clause requiring appraisers to certify they have never had a license suspended, revoked, or put on probation in *any* jurisdiction.
• Executive Employment Agreements: Update contracts for the designated "Controlling Person." Include a termination for cause provision triggered by any disciplinary action against their appraiser license or failure to maintain required USPAP certifications.

Hiring/Training

• Controlling Person Verification: If your AMC's designated Controlling Person is *not* a licensed appraiser, you must verify and document that they have completed the 15-hour national USPAP course and the 7-hour USPAP update course within the last two years.
• Roster Scrubbing: Implement a continuous monitoring process to cross-reference your appraiser panel against the National Registry and state disciplinary lists.

Reporting & Record-Keeping

• 10-Day Notification Rule: Individual appraisers must report changes to mailing address, business address, business email, or telephone number to TALCB within 10 days. Update internal compliance calendars to reflect this tight turnaround.
• Background Check Documentation: AMCs must retain proof that the designated Controlling Person has submitted to the required background investigation upon registration or renewal.

Fees & Costs

• Administrative Fees: TALCB is authorized to charge standard administrative fees for contact information updates.
• Stipend Program: No direct cost to business; however, AMCs and firms wishing to utilize the stipend program for trainees must prepare to disclose financial data to prove "financial need" once forms are released.