Title 61 Chapter 2g Section 406
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Securities Division - Real Estate Division | |
Real Estate Appraiser Licensing and Certification Act | |
Section 406 | Contingent fees. |
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61-2g-406. Contingent fees.
(1) A person licensed or certified under this chapter who enters into an agreement to perform an appraisal may not accept a contingent fee. (2) A person who presents or provides a price estimate or property tax information in accordance with Section 59-2-1017, or a person who is licensed or certified under this chapter who enters into an agreement to provide consultation services, may be paid a fixed fee or a contingent fee. (3) (a) If a person who presents or provides a price estimate or property tax information in accordance with Section 59-2-1017, or a person who is licensed or certified under this chapter, enters into an agreement to perform consultation services for a contingent fee, this fact shall be clearly stated in each oral statement. (b) In addition to the requirements of Subsection (3)(a), if a person who presents or provides a price estimate or property tax information in accordance with Section 59-2-1017, or a person who is licensed or certified under this chapter, prepares a written consultation report or summary, letter of transmittal, or certification statement for a contingent fee, the person shall clearly state in the price estimate, property tax information, report, summary, letter of transmittal, or certification statement that the report is prepared under a contingent fee arrangement. Amended by Chapter 180, 2013 General Session | |
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