Title 61 Securities Division - Real Estate Division Chapter 2b Real Estate Appraiser Licensing and Certification Act Section 36 Contingent fees.
61-2b-36.Contingent fees.
(1) A person licensed or certified under this chapter who enters into an agreement to
perform an appraisal as defined in Subsection 61-2b-2(1)(a) may not accept a contingent fee.
(2) A person licensed or certified under this chapter who enters into an agreement to
provide consultation services as defined in Subsection 61-2b-2(1)(f)(i)(A) may be paid a fixed
fee or a contingent fee.
(3) (a) If a person 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 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 report, summary,
letter of transmittal, or certification statement that the report is prepared under a contingent fee
arrangement.
Amended by Chapter 199, 2005 General Session
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