S.C. Code Regs. 137-800.02 - Bad Checks
Checks issued by an applicant or an appraiser which are returned for insufficient funds or not honored for any cause are considered prima facie evidence of untrustworthiness or incompetency in such a manner as to endanger the interest of the public and may subject the applicant, appraiser, or appraisal management company to disciplinary action.
A. If the check is in payment of a fee for
which authority to engage in real estate appraisal or as an appraisal
management company has been issued, that authority may be immediately cancelled
or revoked.
B. Where a check or
checks are incorrectly returned by a bank or other depository because of the
bank or depository's error, a statement to that effect from the bank or
depository will be required before such appraisal or appraisal management
authority will be reissued.
Notes
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