Sec. 15. (a) The board shall establish the registration fee to be paid by an appraisal management company seeking registration under this chapter. The amount of the registration fee must be the lesser of:

(1) the amount determined by the board to be sufficient for the administration of appraisal management registrations under this chapter when aggregated with all the registration fees paid by appraisal management companies seeking registration under this chapter; or

(2) five hundred dollars ($500).

     (b) Registration fees collected under this section must be deposited in the investigative fund established by IC 25-34.1-8-7.5.

As added by P.L.77-2010, SEC.2.