§37:3415.6. Expiration of license
RS 37:3415.6 – Expiration of license All licenses granted by the board pursuant to this Chapter shall expire December thirty-first of each calendar year. Acts 2009, No. 502, §1, eff. Jan. 1, 2010; Acts 2011, No. 114, §1.
§37:3415.7. Consent to service of process
RS 37:3415.7 – Consent to service of process Each entity applying for a license as an appraisal management company in this state shall complete an irrevocable Uniform Consent to Service of Process as prescribed by the board. Acts 2009, No. 502, §1, eff. Jan. 1, 2010.
§37:3415.8. Owner requirements
RS 37:3415.8 – Owner requirements A. An appraisal management company applying for a license in this state shall not be owned by any person who has had a license or certificate to act as an appraiser, real estate broker or agent, mortgage broker, or mortgage originator, which combined are considered to be “real estate or […]
§37:3415.9. Controlling person; requirements
RS 37:3415.9 – Controlling person; requirements A. Each appraisal management company applying to the board for a license in this state shall designate one controlling person that will be the main contact for all communication between the board and the appraisal management company. B. In order to serve as a controlling person of an appraisal […]
§37:3415.10. License application assessment; delinquent renewal
RS 37:3415.10 – License application assessment; delinquent renewal A. When accepting an application for an initial or renewal license, the board is authorized to collect an assessment not in excess of one thousand five hundred dollars. B. If the license renewal is delinquent, the board is further authorized to collect a delinquent renewal assessment as […]
§37:3415.11. Limitations
RS 37:3415.11 – Limitations An appraisal management company licensed in this state pursuant to this Chapter shall not enter into contracts or agreements with an independent appraiser for the performance of real estate appraisal services unless that person is licensed and in good standing pursuant to the Louisiana Real Estate Appraisers Law, R.S. 37:3391 et […]
§37:3415.12. Pre-engagement certification
RS 37:3415.12 – Pre-engagement certification Each appraisal management company seeking to be licensed in this state shall certify to the board, on an annual basis, on a form prescribed by the board, that the appraisal management company has a system and process in place to verify that a person being added to the appraiser panel […]
§37:3415.13. Adherence to standards; competency
RS 37:3415.13 – Adherence to standards; competency A. Each appraisal management company seeking to be licensed in this state shall certify to the board on an annual basis that it has a system in place to review on a periodic basis the work of all appraisers that are performing real estate appraisal services for the […]
§37:3415.14. Record keeping
RS 37:3415.14 – Record keeping Each appraisal management company seeking to be licensed in this state shall certify to the board on an annual basis that it maintains a detailed record for five years of each real estate appraisal service request that it receives including the fee paid by the lenders to all appraisers for […]
§37:3415.15. Fees; customary and reasonable; disclosure
RS 37:3415.15 – Fees; customary and reasonable; disclosure A. An appraisal management company shall compensate appraisers at a rate that is customary and reasonable for appraisals being performed in the market area of the property being appraised, consistent with the requirements of 15 U.S.C. 1639(e) and the final federal rules as provided for in the […]