§ 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