2000 Minnesota Statutes

     82B.22 Contingent fees. 

    A licensed real estate appraiser may not accept a 
 commission for an appraisal assignment that is contingent upon 
 the appraiser reporting a predetermined estimate, analysis, or 
 opinion, or is contingent upon the opinion, conclusion, or 
 valuation reached, or upon the consequences resulting from the 
 appraisal assignment. 

    A licensed real estate appraiser who enters into an 
 agreement to perform a market analysis may be paid a fixed fee 
 or a fee that is contingent on the results achieved by the 
 specialized services. 

    If a licensed real estate appraiser enters into an 
 agreement to perform a market analysis for a contingent fee, 
 this fact must be clearly stated in each written and oral 
 report.  In each written report, this fact must be clearly 
 stated in a prominent location in the report and also in each 
 letter of transmittal and in the licensing statement made by the 
 appraiser in the report. 

    HIST: 1989 c 341 art 1 s 22