§ 457.30. Disciplinary measures
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 63 P.S. Professions and Occupations (State Licensed)Effective: July 31, 2012
Effective: July 31, 2012
63 P.S. § 457.30
§ 457.30. Disciplinary measures
(a) Authority of board.--The board may impose disciplinary action as set forth in subsection (b) upon an applicant, registrant, exempt company, person acting as an appraisal management company, person holding out as an appraisal management company or person advertising or holding out as engaging in or conducting the business of an appraisal management company, for any of the following causes:
(4) The Department of Banking or a court of competent jurisdiction has found the applicant, registrant, exempt company, compliance person or key person in violation of the provisions of 7 Pa.C.S. Ch. 61 (relating to mortgage loan industry licensing and consumer protection) or the Mortgage Bankers and Brokers and Consumer Equity Protection Act.1
(7) The applicant, registrant, exempt company, compliance person or key person is the subject of an order of the board or any other state appraisal management company regulatory agency denying, suspending or revoking the person's privilege to operate as an appraisal management company, or other disciplinary actions by an agency of another jurisdiction responsible for regulating appraisers, mortgage brokers, real estate salespersons or real estate brokers.
(3) In lieu of imposing a sanction authorized by paragraph (1), the board may order the removal, replacement or restriction of a compliance person or a key person found to have committed any of the violations of subsection (a) as a condition of approving, renewing or retaining an applicant's or registrant's registration.
(4) In lieu of imposing a sanction authorized by paragraph (1), the board may order a person found to have committed any of the violations of subsection (a) and that owns an interest in or participates in the business of an appraisal management company to divest partially or wholly of such interest or participation as a condition of granting, renewing or retaining an applicant's or registrant's registration.
(5) Levy a civil penalty or costs of investigation under subsection (d) or the act of July 2, 1993, (P.L. 345, No. 48),2 entitled “An act empowering the General Counsel or his designee to issue subpoenas for certain licensing board activities; providing for hearing examiners in the Bureau of Professional and Occupational Affairs; providing additional powers to the Commissioner of Professional and Occupational Affairs; and further providing for civil penalties and license suspension.”
(6) Require a surety bond or letter of credit in addition to the requirements of section 6(b)3 and regulations of the board promulgated pursuant to that subsection.
(d) Civil penalty.--In addition to any other civil remedy or criminal penalty provided for in this act, the board may levy a civil penalty of up to $10,000 on any person that violates any provision of this act or any person that acts as an appraisal management company, holds out as an appraisal management company in this Commonwealth or advertises or holds out as engaging in or conducting the business of an appraisal management company at a time when the person is not an exempt company or registered under this act. The board shall levy this penalty only after affording the accused party the opportunity for a hearing, as provided in 2 Pa.C.S. (relating to administrative law and procedure). All civil penalties imposed in accordance with this section shall be paid into the Professional Licensure Augmentation Account.
Credits
2012, Feb. 2, P.L. 30, No. 4, § 10, effective in 180 days [July 31, 2012].
Footnotes
63 P.S. § 456.101 et seq.
63 P.S. § 2201 et seq. (repealed); see now, 63 Pa.C.S.A. § 3101 et seq.
63 P.S. § 457.26.
63 P.S. § 457.30, PA ST 63 P.S. § 457.30
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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