Louisiana Revised Statutes 37:3415.19 – A. The board may censure an appraisal management company, conditionally or unconditionally suspend, or revoke any license issued under this Chapter, levy fines or impose civil penalt
Terms Used In Louisiana Revised Statutes 37:3415.19
- Appraisal: A determination of property value.
- Appraisal: means the act or process of developing an opinion of value of real property following the appraisal process defined by the Uniform Standards for Professional Appraisal Practice. See Louisiana Revised Statutes 37:3415.2
- Board: means the Louisiana Real Estate Appraisers Board. See Louisiana Revised Statutes 37:3415.2
- Fraud: Intentional deception resulting in injury to another.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Subpoena: A command to a witness to appear and give testimony.
A. The board may censure an appraisal management company, conditionally or unconditionally suspend, or revoke any license issued under this Chapter, levy fines or impose civil penalties not to exceed fifty thousand dollars, if in the opinion of the board, an appraisal management company is attempting to perform, is performing, has performed, or has attempted to perform any of the following acts:
(1) Committing any act in violation of this Chapter.
(2) Violating any rule or regulation adopted by the board in the interest of the public and consistent with the provisions of this Chapter.
(3) Procuring a license by fraud, misrepresentation, or deceit.
B.(1) In addition to any other civil remedy or civil penalty provided for in this Chapter, the board may issue a subpoena to any person or persons who the board has probable cause to believe has engaged in real estate appraisal activity without a currently valid license.
(2) Subpoenas issued by the board shall comply with the notice requirements of La. Rev. Stat. 49:975. These subpoenas shall be served upon the unlicensed individual personally or by any type of mailing requiring a return receipt and shall include a statement of the manner in which the unlicensed person shall be required to respond to the commission.
C. The board may impose a civil penalty of no more than five thousand dollars upon any unlicensed person who, after a hearing or informal resolution in accordance with all provisions of this Chapter and the Administrative Procedure Act, is found to have engaged in real estate appraisal activity without a currently valid license having been issued by the board pursuant to the provisions of this Chapter. In addition, the board may assess costs and attorney fees against the unlicensed person found to have been engaged in real estate appraisal activity without a current license.
D. No person engaged in real estate appraisal activity without a currently valid license shall have the right to receive any compensation for services so rendered. In addition to any other penalties imposed under this Chapter, the board may require that any person engaged in real estate appraisal activity without a license return any fees collected for engaging in real estate appraisal activity.
Acts 2009, No. 502, §1, eff. Jan. 1, 2010.