Section 45:14F-42 - Adoption of appraiser independence standardsThis act adopts by reference the appraiser independence standards established under section 1639e of the federal Truth in Lending Act, Pub.L. 90-321(15 U.S.C. s. 1639e), including:
a. the requirements for payment of customary and reasonable compensation to fee appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; andb. all necessary enforcement and remedies available under the federal Truth in Lending Act, Pub.L. 90-321(15 U.S.C. s. 1601 et seq.).Added by L. 2017, c. 72,s. 16, eff. 5/11/2017.