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235.03.1-IX. Audits

AR ADC 235.03.1-IXArkansas Administrative CodeEffective: July 10, 2020

West's Arkansas Administrative Code
Title 235. Arkansas Department of Labor and Licensing
Division 3. Arkansas Appraiser Licensing and Certification Board
Rule 1. Appraisal Management Company Rules
Effective: July 10, 2020
Ark. Admin. Code 235.03.1-IX
235.03.1-IX. Audits
Currentness
A. An audit of an appraisal management company registered to provide appraisal management services in Arkansas may be conducted by the Board.
B. In the case of a subsidiary or affiliate of a financial institution engaging in business as an appraisal management company without obtaining a registration to provide appraisal management services in Arkansas, the Board may conduct an audit of the appraisal management company in a joint or alternating manner with the appropriate federal banking agency or the Consumer Financial Protection Bureau as permitted or requirement by applicable law.
C. The Board may audit an appraisal management company at any time or times and may require the production of such records at the office of the Board as often as necessary.
D. An appraisal management company that refuses to submit to an audit shall be considered to have failed the audit.

Credits

Adopted July 10, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 235.03.1-IX, AR ADC 235.03.1-IX
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