§ 160-jjjj. Employee requirements. 1. An appraisal management company
that applies for a certificate of registration shall not knowingly
employ, utilize, or engage, for any real estate appraisal, valuation
service or appraisal review assignment, a person who has had a license
or certificate to act as an appraiser in this state or in any other
state denied, revoked, or surrendered in lieu of possible discipline,
unless such license has been reinstated.

2. Prior to placing an assignment for an appraisal or valuation
service with an appraiser on the appraiser panel of an appraisal
management company, the appraisal management company shall verify that
the appraiser receiving the assignment is a competent appraiser as
defined by the USPAP Competency Rule with regards to geographic area and
the type of property being appraised. An appraiser is deemed part of an
appraisal management company panel as of the earliest date on which: (a)
the appraisal management company accepts the appraiser for consideration
for future appraisal assignments in covered transactions or for
secondary mortgage market participants in connection with covered
transactions; or (b) engages the appraiser to perform one or more
appraisals on behalf of a creditor for a covered transaction or
secondary mortgage market participant in connection with covered
transactions.

3. An appraisal management company may not hire, employ or engage, or
in any way contract with or pay a person who is not licensed or
certified as a real estate appraiser by the department pursuant to
article six-E of this chapter for the purposes of performing an
appraisal as defined in this article. Nothing in this section shall
prohibit an appraisal management company from hiring, employing,
engaging or contracting with or paying a person to perform a property
inspection, or property evaluation if they are licensed as an appraiser,
a real estate broker including associate real estate brokers and real
estate salespersons pursuant to article twelve-A of the real property
law or a home inspector pursuant to article twelve-B of the real
property law, or a person to perform a broker price opinion if they are
licensed as a real estate broker including associate real estate brokers
and real estate salespersons pursuant to article twelve-A of the real
property law.

4. An appraiser shall be considered part of an appraisal management
company's appraiser panel until: (a) the appraisal management company
sends a written notice to such appraiser removing such appraiser with an
explanation; or (b) receives a written notice from such appraiser asking
to be removed or of the death or incapacity of such appraiser.