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 287 – Appraisal Management Companies; Maintenance and Preservation of Records
Section 287. Each appraisal management company shall maintain the records related to the services it provides. All records shall be preserved in accordance with the record keeping rule of the Uniform Standards of Professional Appraisal Practice unless the board, by regulation, prescribes additional requirements for particular types of records.
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, […]
Section 23m.5 – Practice Settings of Licensees; Regulations
[ Subsection (a) effective until fulfillment of the conditions of 2021, 39 Sec. 127. For text effective upon the conditions of 2021, 39 Sec. 127, see below.] Section 23M1/2. (a) The board shall promulgate regulations necessary to regulate and inspect the practice settings of its licensees and may require the practice settings to be licensed […]
Section 280 – Appraisal Management Companies; Designation of Controlling Person
Section 280. An appraisal management company applying to the board for registration shall designate 1 controlling person who shall be the main contact for all communication between the board and the appraisal management company. The controlling person may also be designated the employee in charge.
Section 281 – Appraisal Management Companies; Designation of Employee in Charge
Section 281. In order to serve as the employee in charge for a registered appraisal management company, a designee, in addition to holding a valid license as an appraiser, shall: (i) not have had a license to practice as an appraiser or to engage in any activity related to the transfer of real property refused, […]
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 […]