Except in the case of breach of contract or substandard performance of real estate appraisal activity, an appraisal management company shall make payment to an independent contractor appraiser for the completion of an appraisal or appraisal review assignment:

1. (1) Within 45 days after the appraiser provides the completed appraisal report to the appraisal management company; or
2. (2) In accordance with another payment schedule agreed to by the appraiser and the appraisal management company.

Note: See note under 674.200.

[2010 c.87 §6; 2011 c.447 §13; 2013 c.364 §1]