SECTION 1. Section 193 of Chapter 112 of the General Laws as appearing in the 2018 Official Edition is hereby amended by striking out the first and second paragraphs and inserting in place thereof the following two paragraphs: -
Each state certified general, state certified residential, or state licensed real estate appraiser must retain originals or true copies of all written contracts engaging his services for real property appraisal work and all reports and supporting data assembled and formulated by the appraiser in preparing such reports for a period as set forth in the Record Keeping Rule of the Uniform Standards of Professional Appraisal Practice as developed by the Appraisal Standards Board of the Appraisal Foundation.
All records required to be maintained under the provisions of this section shall be made available by the state-certified or state-licensed real estate appraiser for inspection and copying by the board on reasonable notice to the appraiser.
SECTION 2. The title of Section 193 of Chapter 112 is replaced as follows: - Record Retention Requirements.
SECTION 3. This act shall take effect upon passage.
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