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§ 16-5B-05. Registration qualifications

West's Annotated Code of MarylandBusiness Occupations and ProfessionsEffective: July 1, 2011

West's Annotated Code of Maryland
Business Occupations and Professions
Title 16. Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors (Refs & Annos)
Subtitle 5b. Real Estate Appraisal Management Companies (Refs & Annos)
Effective: July 1, 2011
MD Code, Business Occupations & Professions, § 16-5B-05
§ 16-5B-05. Registration qualifications
Currentness
Persons or entities subject to discipline
(a) A person applying for registration as an appraisal management company may not be owned in whole or in part, directly or indirectly, by:
(1) a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state; or
(2) another entity that is owned by a person who has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state.
Good character and reputation of owner
(b) The owner of an appraisal management company shall:
(1) be of good character and reputation, as determined by the Commission; and
(2) submit to a background investigation, as determined by the Commission.
Certification relating to ownership of person
(c) A person applying for registration as an appraisal management company shall certify to the Commission that it has reviewed each entity that owns the person and that no other entity that owns the person is directly owned by a person that has had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state.

Credits

Added by Acts 2011, c. 269, § 1, eff. July 1, 2011; Acts 2011, c. 270, § 1, eff. July 1, 2011.
MD Code, Business Occupations & Professions, § 16-5B-05, MD BUS OCCUP & PROF § 16-5B-05
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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