Sec. 1103.405. PROFESSIONAL STANDARDS. (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."
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