La. Admin. Code tit. 46, § LXVII-30301 - Initial License Applications
A.
Applications for initial licensing as an appraisal management company shall be
in such forms and detail as prescribed by
the board. Applicants shall submit all documentation requested on the
application and shall adhere to any directions and deadlines prescribed
therein.
B. Applications for
initial licensing as an appraisal management company shall include, at a
minimum, the following information:
1. the
name, business address, telephone number, and the email address of the
applicant;
2. the name, address,
and contact information of each individual or entity that has any interest in
the appraisal management company;
3. the name, address, and contact information
of the controlling person, as defined by
R.S.
37:3415.2;
4. the designation of an agent for service of
process.
C. Applications
for initial licensing as an appraisal management company shall include, at a
minimum, the following certifications.
1. The
applicant has a system in place to verify that all Louisiana appraisers on the
panel of the appraisal management company are Certified Residential or
Certified General Appraisers.
2.
The applicant has a system in place to review the work of all independent
appraisers performing appraisal services.
a.
The appraisal services shall be conducted in conformity with the Uniform
Standards of Professional Appraisal Practice.
3. The applicant will maintain a record of
each request for appraisal services applicable to Louisiana properties, as well
as the name of the independent appraiser that performs appraisal services, and
the fee paid to the appraiser for each assignment.
4. The designated controlling person has
accepted the responsibilities attendant to acting as such.
5. The applicant can attest to the good moral
character of the individuals that are directed to manage the appraisal
management company business.
D. Applications for initial licensing as an
appraisal management company shall be submitted, at a minimum, with the
following documentation:
1. a license history
verification from each jurisdiction in which the applicant is currently
licensed or has been licensed as an appraisal management company;
2. a copy of any trade name and trademark
registration issued by the Louisiana Secretary of State for use by the
applicant;
3. a copy of the
resolution or other document executed by a principal of the appraisal
management company designating a controlling person;
4. a copy of any corporation, partnership, or
limited liability company registration certificate issued to the applicant by
the Louisiana Secretary of State.
E. When an applicant has made a false
statement of material fact on an initial license application or in any related
document submitted therein, such false statement may in itself be grounds for
refusal of an initial license.
F.
If the board denies an application for initial licensing, the applicant shall
be notified in writing and shall be afforded an opportunity for a hearing
before the board to show cause as to why the application should not be
denied.
G. If the board determines
that an applicant has satisfactorily met the prescribed requirements for
initial licensing, a Louisiana appraisal management company license shall be
issued to the applicant.
H. Initial
licenses shall be issued for a period of 12 months and shall expire one year
from the date the initial license is issued. Conducting any activity authorized
by the license after the date of expiration shall be deemed a violation of this
Chapter.
Notes
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