(a) Except as provided by Subsection (b), a person who holds a certificate, license, or registration issued under this chapter shall comply with:
(1) the most current edition of the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation; or
(2) other standards provided by board rule that are at least as stringent as the Uniform Standards of Professional Appraisal Practice.
(b) A certified or licensed appraiser is not required to comply with the standards described by Subsection (a) to provide:
(1) an evaluation of real property described by Section 1103.004(4); or
(2) an analysis, assessment, opinion, conclusion, notation, or compilation of data concerning the value of an interest in real property described by Section 1103.004(5) for use by a non-bank financial institution.
(c) A document provided under Section 1103.004(4) or (5) must contain on the first page of the document the following notice: "This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice."
Official text of the Texas Occupations Code as published by the Texas Legislative Council.