§ 4032. Payment.
§ 4032. Payment. Except in cases of breach of contract or substandard performance of services, each appraisal management company shall make payment to an independent appraiser for the completion of an appraisal or valuation assignment within 45 days after the date on which the independent appraiser transmits or otherwise provides the completed appraisal or valuation […]
§ 4033. Appraisal reports; alteration; use.
§ 4033. Appraisal reports; alteration; use. An appraisal management company shall not: (1) Alter, modify, revise or otherwise change a completed appraisal report submitted by an independent appraiser, including removing the signature of the appraiser. (2) Use an appraisal report submitted by an independent appraiser for any purpose other than the intended use stated in […]
§ 4034. Removal of appraisers from appraiser panels.
§ 4034. Removal of appraisers from appraiser panels. (a) An appraisal management company shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real property appraisal services to an independent appraiser, without notifying the appraiser in writing of the reasons for the appraiser being removed from the appraiser panel […]
§ 4035. Enforcement.
§ 4035. Enforcement. The Council may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this chapter or impose civil penalties not to exceed $15,000 per violation if, after a hearing, the Council finds that an appraisal management company is attempting to perform, has performed or has attempted to […]
§ 4036. Disciplinary hearing.
§ 4036. Disciplinary hearing. (a) The Council may conduct disciplinary proceedings in accordance with subchapter III of Chapter 101 of Title 29. (b) The written notice required by subchapter III of Chapter 101 of Title 29 shall be satisfied by personal service on the controlling person of the registrant or the registrant’s agent for service […]
§ 4037. Rule-making authority.
§ 4037. Rule-making authority. The Council shall adopt rules that are reasonably necessary to implement, administer and enforce this subchapter. 79 Del. Laws, c. 163, § 2;
§ 4038. Effective date.
§ 4038. Effective date. All appraisal management companies operating in this State as of July 1, 2013, must become registered on or before July 1, 2014. 79 Del. Laws, c. 163, § 2;
§ 4025. Owner requirements for appraisal management companies [Effective until Jan. 1, 2023].
§ 4025. Owner requirements for appraisal management companies [Effective until Jan. 1, 2023]. (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 […]
§ 4025. Owner requirements for appraisal management companies [Effective Jan. 1, 2023].
§ 4025. Owner requirements for appraisal management companies [Effective Jan. 1, 2023]. (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 […]
§ 4026. Appraisal management company controlling person [Effective until Jan. 1, 2023].
§ 4026. Appraisal management company controlling person [Effective until Jan. 1, 2023]. (a) Each appraisal management company applying to the Council for registration in this State shall designate 1 controlling person that will be the main contact for all communication between the Council and the appraisal management company. (b) To serve as a controlling person […]