Tex.
Occ. Code Section 1103.405
Professional Standards
(a)
Except as provided by Subsection (b), a person who holds a certificate, license, or registration issued under this chapter shall comply with:(1)
the most current edition of the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation; or(2)
other standards provided by board rule that are at least as stringent as the Uniform Standards of Professional Appraisal Practice.(b)
A certified or licensed appraiser is not required to comply with the standards described by Subsection (a) to provide:(1)
an evaluation of real property described by Section 1103.004 (Applicability of Chapter)(4); or(2)
an analysis, assessment, opinion, conclusion, notation, or compilation of data concerning the value of an interest in real property described by Section 1103.004 (Applicability of Chapter)(5) for use by a non-bank financial institution.(c)
A document provided under Section 1103.004 (Applicability of Chapter)(4) or (5) must contain on the first page of the document the following notice: “This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice.”
Source:
Section 1103.405 — Professional Standards, https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1103.htm#1103.405 (accessed Jun. 5, 2024).
