1. (a) An appraisal management company performing appraisal management services shall maintain a record of each service request for an appraisal that the appraisal management company receives. The following must be included in a record maintained under this subsection:

   1. (1) The person making the service request.
   2. (2) The date on which the service request is made.
   3. (3) The property to be appraised.
   4. (4) The real estate appraiser who performed the appraisal.
   5. (5) A copy of the appraisal produced for the service request.
   6. (6) The individuals who reviewed the appraisal.
   7. (7) The date on which the appraisal was delivered to the person who made the service request.
   8. (8) The costs and fees for the appraisal management services performed by the appraisal management company.
   9. (9) The costs and fees for the appraisal performed by the real estate appraiser.
2. (b) An appraisal management company shall keep the records described in subsection (a) for not less than six (6) years after the date specified in subsection (a)(2).

As added by P.L.77-2010, SEC.2.