Section 284-13-280. Real estate appraisals.

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(1) Except as provided in subsection (2) of this section, for purposes of RCW 48.13.120(1) and 48.13.140, an insurer may rely on an appraisal that is less than one year old.

(2) An insurer may not rely on an appraisal if the insurer knows or should know that the appraisal is not reliable. An appraisal may be "not reliable" because it was incorrect when done, because conditions affecting the property have changed, or for other reasons.

[Statutory Authority: RCW 48.02.060. WSR 93-19-010 (Order R 93-14), § 284-13-280, filed 9/1/93, effective 10/2/93.]

RCW 48.02.060. WSR 93-19-010 (Order R 93-14), § 284-13-280, filed 9/1/93, effective 10/2/93.

                    
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