1. After notice and hearing, the administrator may revoke, suspend, or refuse to issue, renew, or reinstate a registration; reprimand, censure, or limit the scope of practice of any registrant; impose a civil penalty not to exceed ten thousand dollars per violation; require remedial action; or place any registrant on probation; all with or without terms, conditions, or in combinations of remedies, for any one or more of the following reasons:

 a. Fraud or deceit in obtaining registration, which may also result in permanent revocation of the registration.
 b. Dishonesty, fraud, or gross negligence in the provision of appraisal management services.
 c. A violation of this chapter or implementing rules by the appraisal management company or by an employee, owner, director, controlling person, or other agent of the appraisal management company.
 d. Conviction of a felony or other indictable offense, any element of which is dishonesty, deception, or fraud, or is otherwise related to the performance of appraisal management services, under the laws of any state or the United States.
 e. Cancellation, revocation, suspension, or refusal to renew the authority to practice as an appraisal management company, or the acceptance of the voluntary surrender of a registration to practice as an appraisal management company to conclude a disciplinary investigation or action, by any other state, a federal agency, or foreign authority for any cause other than failure to pay appropriate fees in the other jurisdiction.
 f. A violation of section 272C.10.

Terms Used In Iowa Code 543E.17

  • Appraisal: A determination of property value.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Fraud: Intentional deception resulting in injury to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • United States: includes all the states. See Iowa Code 4.1
 2. When determining whether to initiate a disciplinary proceeding against an appraisal management company based on actions or omissions by an employee, owner, director, controlling person, or other agent of the appraisal management company, the administrator shall take into consideration all of the following:

 a. Whether the appraisal management company took reasonable steps to prevent the violation.
 b. Whether the violation was or could have been discovered by the appraisal management company upon reasonable inquiry.
 c. What steps the appraisal management company took upon discovering the violation.
 d. Whether the violation could have been avoided had the appraisal management company established the systems or other procedures required under this chapter.
 e. Whether the violation is an isolated matter or more systemic to the appraisal management company’s performance.
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