Section 82C.04 — Term Of License.
82C.04 TERM OF LICENSE. Initial licenses issued under this chapter are valid for a period not to exceed one year. Each initial license must expire on August 31 of the expiration year assigned by the commissioner. History: 2010 c 347 art 6 s 12
Section 82C.05 — License Renewal.
82C.05 LICENSE RENEWAL. Subdivision 1. Term. Licenses renewed under this chapter are valid for a period of 12 months. Subd. 2. Timely renewal. (a) Application for timely renewal of a license is considered timely filed if received by the commissioner before the date of the license expiration. (b) An application for renewal is considered properly […]
Section 82C.06 — Exemptions.
82C.06 EXEMPTIONS. This chapter does not apply to: (1) a person that exclusively employs appraisers on an employer and employee basis for the performance of appraisals, and: (i) the employer is responsible for ensuring that the appraisals are performed by employees in accordance with USPAP; and (ii) the employer accepts all liability associated with the […]
Section 82C.07 — Consent To Service Of Process.
82C.07 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 commissioner. History: 2010 c 347 art 6 s 15
Section 82C.08 — Licensing Fees.
82C.08 LICENSING FEES. Subdivision 1. Establishment and retention. Except as provided in subdivision 2, paragraph (c), the fees shall be retained by the commissioner for the sole purpose of administering this licensing and regulation program. Subd. 2. Amounts. (a) Each application for initial licensure shall be accompanied by a fee of $5,000. (b) Each application […]
Section 82C.09 — Investigations And Subpoenas.
82C.09 INVESTIGATIONS AND SUBPOENAS. The commissioner has under this chapter the same powers with respect to chapter 45.027, including the authority to impose a civil penalty not to exceed $10,000 per violation. History: 2010 c 347 art 6 s 17
Section 82C.10 — Employee Requirements.
82C.10 EMPLOYEE REQUIREMENTS. An employee of the appraisal management company that has the responsibility to review the work of employed and independent appraisers where the subject properties are located within this state, which include the reviewer’s opinion of value or concurrence with the original appraiser’s value, must be licensed according to chapter 82B and perform […]
Section 82C.01 — Title.
82C.01 TITLE. This chapter shall be known as the “Minnesota Appraisal Management Company Licensing and Regulation Act.” History: 2010 c 347 art 6 s 9