(a) Commencing July 1, 2014, it is unlawful for any person or firm to perform or offer to perform appraisal management services, or act as an appraisal management company within this state without a registration issued by the West Virginia Real Estate Appraiser Licensing and Certification Board under the provisions of this article. (b) Commencing […]
The fees assessed by the board, as established by legislative rule, shall include the annual fee for appraisal management companies and appraisal management companies that are subsidiaries of federally regulated financial institutions to be included in the national registry maintained by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
(a) An appraisal management company shall have a designated controlling person who will ensure compliance with this article and will be the main contact for all communication between the board and the appraisal management company. (b) The controlling person shall: (1) Be of good character and reputation;
(a) An appraisal management company may only remove an appraiser from an appraiser panel or refuse to assign appraisals to an appraiser after providing the appraiser 20 days” prior written notice stating the reasons for the removal or refusal and providing an opportunity for the appraiser to be heard. (b) An appraiser who is removed […]
(a) Each appraisal management company shall: (1) Verify that an appraiser receiving work or being placed on an appraiser panel is:
An appraisal management company commits unprofessional conduct if it: (1) Requires an appraiser to modify an aspect of an appraisal which modification is not related to substandard performance or noncompliance with the terms of a contract or agreement;
(a) An appraisal management company or any person acting for an appraisal management company as a controlling person, owner, director, officer, agent, employee or independent contractor may not: (1) Improperly influence or attempt to improperly influence the development, reporting, result or review of an appraisal through:
The board may deny, revoke or refuse to issue or renew the registration of an appraisal management company or may restrict or limit the activities of an appraisal management company or of a person or firm that owns an interest in or participates in the business of an appraisal management company for the following reasons: […]
(a) The board, on its own motion or upon receipt of a written complaint, may investigate an appraisal management company, a person or firm associated with an appraisal management company, or a person or firm performing appraisal management services. (b) If the board determines after the investigation there are grounds for disciplinary action, the board […]
Appraisal management companies and appraisal management services covered under the provisions of this article are subject to the requirements set forth in this article and the rules promulgated hereunder, and the provisions of article one and article thirty-eight of this chapter.
As used in this article, the following words and terms have the following meanings, unless the context clearly indicates otherwise: (a) “Applicant” means a person or firm making an application for registration under the provisions of this article. (b) “Appraisal” means an analysis, opinion, or conclusion prepared by a real estate appraiser relating to the […]
(a) A person or firm performing or offering to perform appraisal management services or acting as an appraisal management company within this state shall be registered with the board. (b) A firm applying for a registration may not be owned, directly or indirectly by: (1) A person who has had a license or certificate to […]
This article does not apply to: (a) A financial institution, including a department or unit within an institution that is regulated by an agency of this state or the United States government; or (b) An appraisal management company that is a subsidiary wholly owned and controlled by a financial institution regulated by a federal financial […]
(a) The written application shall be submitted on a form prescribed by the board and shall include: (1) The name, the street and mailing address and the contact information, including telephone number and e-mail address, of the person or firm seeking registration;
(a) The certification for registration shall be in writing, on a form prescribed by the board and signed by the applicant or controlling person. The certification shall include statements that the applicant: (1) Has a process in place to verify that any person used as an appraiser or added to the appraiser panel of the […]
(a) Upon application, the applicant, each owner who owns more than 10 percent, and the controlling person of the firm seeking registration shall submit to a state and national criminal history record check, as set forth in this section. (1) This requirement is found not to be against public policy.
(a) Each applicant shall post and maintain a surety bond with the board. The aggregate liability of the surety bond may not exceed the principal sum of the surety bond. (b) The surety bond shall: (1) Be established by the board through rules;
