TITLE 5
Businesses and Professions

CHAPTER 5-20.9
Real Estate Appraisal Management Company Registration Act [Effective July 1, 2018]

SECTION 5-20.9-7


§ 5-20.9-7. Initial registration, renewals, forms and fees. [Effective July 1, 2018.].

(a) An applicant for registration as an appraisal management company shall submit to the department an application on forms prescribed by the department and pay the required fee(s).

(b) The fees for initial registration, renewal, and late renewals shall be determined by the director and established by regulation.

(c) Every appraisal management company that desires to renew a registration for the next term shall apply for the renewal of the registration upon a form furnished by the director and containing information that is required by this chapter. Renewal of a registration is subject to the same provisions as the initial registration.

(d) The department shall receive applications for registration for initial licensing and renewal and establish administrative procedures for processing applications and issuing and renewing registrations.

(e) The department shall have the authority to assess and collect from registered entities, the AMC federal registry fee in any amount assessed by the appraisal subcommittee of the Federal Financial Institutions Examination Council or its successor entity, and transmit the fee to the Federal Financial Institutions Examinations Council.

(f) A federally regulated appraisal management company operating in this state shall report to the department any information necessary for the department to assess, collect, and forward the AMC federal registry fee in any amount assessed by the appraisal subcommittee of the Federal Financial Institutions Examination Council or its successor entity.

History of Section.
(P.L. 2017, ch. 14, § 1; P.L. 2017, ch. 26, § 1.)