US Lawyer Database

Section 282 – Appraisal Management Companies; Notice to Board of Designation of Controlling Person and Employee in Charge; Change in Designations; Sole Proprietorships

Section 282. An appraisal management company shall file a form, signed by the designated controlling person or employee in charge, with the board indicating the appraisal management company’s designation of the controlling person and employee in charge and the individual’s acceptance of the responsibility. The board shall establish a process, including appropriate timing, for administering […]

Section 283 – Appraisal Management Companies; Fees

Section 283. The following fees shall be determined annually by the secretary of administration and finance under section 3B of chapter 7 and shall be collected by the board: (i) an application fee; (ii) an initial registration fee; (iii) an annual renewal fee; (iv) a change in controlling person or employee in charge fee; and […]

Section 284 – Appraisal Management Companies; Surety Bond

Section 284. In addition to the filing fee, each applicant for registration shall post with the board and maintain a surety bond in an amount to be determined by the board. The bond shall: (i) be in the form prescribed by the board; and (ii) accrue to the commonwealth for the benefit of a claimant […]

Section 285 – Appraisal Management Companies; Prohibited Activities

Section 285. (a) No employee, director, officer, managing principal or agent of an appraisal management company or a third party acting as a joint venture partner or an independent contractor of an appraisal management company shall influence or attempt to influence the development, reporting, result or review of a real estate appraisal through coercion, extortion, […]

Section 286 – Appraisal Management Companies; Disciplinary Actions

Section 286. (a) The board may, by order, deny, suspend, revoke or refuse to issue or renew a registration of an appraisal management company or may restrict or limit the activities of a person who owns an interest in or participates in the business of an appraisal management company if the board determines that an […]

Section 288 – Appraisal Management Companies; Injunctive Relief

Section 288. The board may file an action for injunctive relief to prevent violations of sections 276 to 289, inclusive. The superior court may grant an injunction against a person who it deems to be violating said sections 276 to 289, inclusive, notwithstanding that criminal prosecution has been or may be instituted for such violation […]

Section 289 – Appraisal Management Companies; Investigations and Examinations by Board

Section 289. (a) The board may conduct investigations and examinations for the purposes of: (i) initial registration, registration renewal, registration suspension, registration conditioning, registration revocation or termination or general or specific inquiry or investigation to determine compliance with sections 276 to 289, inclusive; provided, however, that for the purposes of any such investigation or examination, […]