1. (a) A registrant shall review the work of appraisers performing appraisal services by performing a review in accordance with Standard 3 of USPAP of:

   1. (1) one of the first five appraisals performed for the registrant by each appraiser; and
   2. (2) a total of five percent, randomly selected, of the appraisals performed for the AMC per twelve-month period.
2. (b) Appraisals performed pursuant to subsection (a)(1) of this section shall be counted toward the calculation of five percent for the purposes of subsection (a)(2) of this section.
3. (c) A review pursuant to subsection (a)(1) of this section is not required if the first five appraisals by an appraiser were completed before the AMC was required by Chapter 1104, Texas Occupations Code, to be registered with the Board.
4. (d) In addition to satisfying the requirements of §1104.153 of the Act, the review appraiser must have access to appropriate data sources for the appraisal being reviewed.
5. (e) A certified residential appraiser may perform a review of a residential real estate appraisal completed by a certified general appraiser if the review appraiser is otherwise permitted by the Texas Appraiser Licensing and Certification Act to perform the assignment.

Source Note:The provisions of this §159.155 adopted to be effective March 5, 2012, 37 TexReg 483.