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34-27A-60
Section 34-27A-60 Unlawful influencing of appraisal. (a) It is unlawful for any employee, director,
officer, or agent of an appraisal management company to influence or attempt to influence
the development, reporting, or review of an appraisal through coercion, extortion, collusion,
compensation, instruction, inducement, intimidation, bribery, or in any other manner including,
but not limited to, any of the following: (1) Withholding or threatening to withhold timely
payment for an appraisal, unless the appraisal is found to be of substandard quality or noncompliant
with the scope of the assignment as defined in the engagement letter. (2) Withholding or threatening
to withhold payment for an appraisal if the loan transaction is not completed. (3) Withholding
or threatening to withhold future business of, or demoting or terminating the services of,
or threatening to demote or terminate the services of an appraiser. (4) Promising future business,
promotions, or increased compensation to...
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34-27A-2
Section 34-27A-2 Definitions. The following terms as used in this article shall have the following
meanings: (1) APPRAISAL. The act or process of developing an opinion of value of real property;
an opinion of the value of real property; of or pertaining to appraising real property and
related functions such as appraisal practice or appraisal services. (2) APPRAISAL FOUNDATION.
The Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November
30, 1987. (3) APPRAISAL MANAGEMENT COMPANY. An external third party including, but not limited
to, a corporation, partnership, sole proprietorship, subsidiary, or limited liability company,
authorized either by a creditor of a consumer credit transaction secured by the principal
dwelling of a consumer or by an underwriter of or other principal in the secondary mortgage
markets, that oversees a network or panel of more than four certified or licensed appraisers
in a state or 25 or more nationally in a given year, that...
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34-27A-20
Section 34-27A-20 Revocation or suspension of license - Grounds; disciplinary proceedings;
administrative fines. (a) The board may investigate the actions of a licensed real property
appraiser on complaint or on its own motion, and may revoke or suspend the license, levy fines
as provided in subsection (c), require completion of education courses, or discipline by public
and no more than two private reprimands per licensed real property appraiser for any of the
following acts or omissions: (1) Procuring or attempting to procure a license or certificate
pursuant to this article by knowingly making a false statement, submitting false information,
refusing to provide complete information in response to a question in an application for a
license, or through any form of fraud or misrepresentation. (2) Failing to meet the minimum
qualifications established by this article. (3) Paying money other than authorized by this
article to any member or employee of the board to procure a license under...
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27-36A-16
Section 27-36A-16 Requirements of a principle-based valuation. (a) A company must establish
reserves using a principle-based valuation that meets the following conditions for policies
or contracts as specified in the valuation manual: (1) Quantify the benefits and guarantees,
and the funding, associated with the contracts and their risks at a level of conservatism
that reflects conditions that include unfavorable events that have a reasonable probability
of occurring during the lifetime of the contracts. For polices or contracts with significant
tail risk, reflects conditions appropriately adverse to quantify the tail risk. (2) Incorporate
assumptions, risk analysis methods and financial models, and management techniques that are
consistent with, but not necessarily identical to, those utilized within the company's overall
risk assessment process, while recognizing potential differences in financial reporting structures
and any prescribed assumptions or methods. (3) Incorporate...
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31-9-40
Section 31-9-40 Compact adopted and enacted. The Emergency Management Assistance Compact is
enacted into law and entered with all jurisdictions mutually adopting the compact in the form
substantially as follows: THE EMERGENCY MANAGEMENT ASSISTANCE COMPACT Article I - Purpose
and Authorities. This compact is made and entered into by and between the participating member
states which enact this compact, hereinafter called party states. For the purpose of this
agreement, the term "states" is taken to mean the several states, the Commonwealth
of Puerto Rico, the District of Columbia, and all U.S. territorial possessions. The purpose
of this compact is to provide for mutual assistance between the states entering into this
compact in managing any emergency or disaster that is duly declared by the governor of the
affected state or states, whether arising from natural disaster, technological hazard, man-made
disaster, civil emergency aspects of resources shortages, community disorders,...
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34-1-16
Section 34-1-16 Acts declared unlawful. No person shall assume or use the title or designation
"certified public accountant," the abbreviation "CPA" or any other title,
designation, words, letters, abbreviation, sign, card, or device tending to indicate that
the person is a certified public accountant, unless the person has received a certificate
as a certified public accountant under Section 34-1-4 and if in public practice, holds a permit
issued under Section 34-1-11, which is not revoked or suspended, hereinafter referred to as
a live permit, and all of the offices of the person in this state for the practice of public
accounting are maintained and registered as required under Section 34-1-10, or the person
is practicing pursuant to Section 34-1-7; provided, however: (1) A foreign accountant who
has registered under Section 34-1-5 and who holds a live permit issued under Section 34-1-11
may use the title under which he or she is generally known in his or her country, followed
by the...
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34-27A-58
Section 34-27A-58 Confirmation of competency; when payments due. (a) Before placing an assignment
with an appraiser, an appraisal management company shall require that the appraiser confirm
in writing or via electronic means that the appraiser receiving the assignment is a competent
appraiser for the performance of the appraisal being assigned. (b) An appraisal management
company operating in this state, except in cases of a mutually agreed upon payment date, breach
of contract, or performance of services that violates Uniform Standards of Professional Appraisal
Practice or any published standards of best practices, shall make payment to an appraiser
for the completion of an appraisal or valuation assignment within 45 days after the date the
appraisal management company, or an assignee, receives a completed appraisal or valuation
study. (Act 2011-701, p. 2161, §3.)...
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34-27A-4
Section 34-27A-4 Board created; composition; meetings; compensation. There is established the
Alabama Real Estate Appraisers Board. The board shall consist of nine members, one of whom
shall be a qualified individual from the general public, seven of whom shall be real property
appraisers, and, beginning on October 1, 2011, one of whom shall be a representative of an
appraisal management company. Each member of the board, except for the representative of the
appraisal management company, shall be a citizen of this state and no less than two of the
nine board members shall be of a minority race. The overall membership of the board shall
be inclusive and reflect the racial, gender, geographic, urban/rural, and economic diversity
of the state. The Governor shall appoint the members of the Real Estate Appraisers Board.
One appraiser member shall be appointed from each United States Congressional District in
this state. The term of each board member shall be three years; except that, of the...
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34-27A-63
Section 34-27A-63 Applicability. This article does not apply to: (1) A financial institution
that is regulated by a federal financial institution regulatory agency or a department, division,
or unit thereof. An appraisal management company that is a wholly owned subsidiary of a financial
institution may not be considered a department, division, or unit within a financial institution.
(2) A person who enters into an agreement with an appraiser for the performance of an appraisal
and, upon the completion of the appraisal, the report of the appraiser performing the appraisal
is signed by both the appraiser who completed the appraisal and the person who requested the
completion of the appraisal. (Act 2011-701, p. 2161, §3.)...
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41-7A-46
Section 41-7A-46 Tax exemptions - Application; issuance of certificates; reporting requirements.
(a) A qualified production company that intends to produce all or any part of a qualified
production project in Alabama and desires to be exempted from the payment of state sales,
use, and lodging taxes levied pursuant to Sections 40-23-2, 40-23-61, and 40-26-1, respectively,
shall provide an estimate of total expenditures expected to be made in Alabama in connection
with the production project. The estimate of expenditures shall be filed with the office before
the commencement of the project in Alabama. (b) At the time the qualified production company
provides the estimate of expenditures to the department, it also shall designate a member
or representative of the company to work with the office and the department on reporting of
expenditures and other information necessary to take advantage of the sales, use, and lodging
tax exemptions afforded by this article. (c)(1) An application for...
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