§ 32-3662 – Registration
32-3662. Registration A. A person shall not directly or indirectly engage or attempt to engage in business as an appraisal management company, directly or indirectly perform or attempt to perform appraisal management services or advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration […]
§ 32-3678 – Censure, suspension or revocation; civil penalty
32-3678. Censure, suspension or revocation; civil penalty The deputy director may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this article or impose civil penalties not to exceed $15, 000 per violation if, in the opinion of the deputy director, an appraisal management company is attempting to perform, […]
§ 32-3663 – Exemptions
32-3663. Exemptions This article does not apply to: 1. A department or unit within a financial institution that is subject to direct regulation by an agency of the United States government or of this state and that receives requests for the performance of real estate appraisals from the financial institution and then assigns such requests […]
§ 32-3679 – Disciplinary hearings
32-3679. Disciplinary hearings A. The deputy director or an administrative law judge may conduct disciplinary proceedings in accordance with title 41, chapter 6, article 10. B. Before censuring any registrant, or suspending or revoking any registration, the deputy director shall notify the registrant in writing of any charges made at least forty-five days before the […]
§ 32-3664 – Registration forms
32-3664. Registration forms An applicant for initial and renewal registration as an appraisal management company shall submit to the deputy director an application on a form prescribed by the deputy director.
§ 32-3680 – Rulemaking authority
32-3680. Rulemaking authority The deputy director shall adopt rules that are reasonably necessary to implement, administer and enforce this article, including rules for obtaining copies of appraisals and other documents necessary to audit compliance with this article and rules requiring a surety bond to be posted with each application.
§ 32-3665 – Expiration of registration
32-3665. Expiration of registration An initial registration granted by the department pursuant to this article is valid for one year after the date on which it is issued. Registration renewals are valid for two years.
§ 32-3666 – Consent to service of process
32-3666. Consent to service of process Each entity applying for registration as an appraisal management company shall complete and execute an irrevocable consent to service of process form as prescribed by the deputy director.
§ 32-3667 – Fee; bond
32-3667. Fee; bond A. The deputy director shall establish the fee for appraisal management company registration by rule. B. The appraisal management company shall show proof of a surety bond of at least $20, 000 but not more than $50, 000.
§ 32-3668 – Owner requirements
32-3668. Owner requirements A. An appraisal management company applying for registration may not be owned by a person or have any principal of the company who has had any financial, real estate or mortgage lending industry license or certificate refused, denied, canceled, revoked or voluntarily surrendered in this state or in any other state. This […]