Kansas Statutes 58-4708. Fees; collection and remittance
Terms Used In Kansas Statutes 58-4708
- AMC: means an individual, firm, partnership, association, corporation, limited liability company or any other business entity acting as an external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets:
(1) That performs appraisal management services, regardless of the use of any of the following terms: Appraisal management company, mortgage technology provider, mortgage services provider, lender processing services provider, loan processor, real estate closing services provider, vendor management company or any other like term; and
(2) such entity oversees an appraiser panel of:
(A) More than 15 appraisers who are certified or licensed in Kansas; or
(B) a total of more than 25 appraisers who are certified or licensed in Kansas and in any other jurisdiction. See Kansas Statutes 58-4703
- Appraiser: means an individual who holds a credential issued by the Kansas real estate appraisal board pursuant to the state certified and licensed real property appraiser act entitling that individual to perform an appraisal of real property in the state of Kansas consistent with the scope of practice for such credential. See Kansas Statutes 58-4703
- Board: means the Kansas real estate appraisal board. See Kansas Statutes 58-4703
- Person: means an individual, firm, partnership, association, corporation, or any other entity. See Kansas Statutes 58-4703
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) The board shall establish by rules and regulations the fee to be paid by each AMC seeking registration or renewal of a registration under this act. The amount of the registration and renewal fees shall be sufficient for the administration of this act, but in no case shall the fees be more than $3,500. The initial registration fee shall be prorated for an applicant that initially applies for registration 11 or fewer months prior to September 30. The board shall have the authority to collect and remit the national registry fee for any AMC operating in this state that is exempt from registration pursuant to Kan. Stat. Ann. 2023 Supp. 58-4705, and amendments thereto.
(b) The board shall establish by rules and regulations a late renewal fee not to exceed $500.
(c) The executive director of the board shall remit all moneys, received pursuant to this act to the state treasurer in accordance with the provisions of Kan. Stat. Ann. § 75-4215, and amendments thereto. Upon receipt of each such remittance, the state treasurer shall deposit the entire amount in the state treasury. Other than amounts collected for the AMC federal registry fees, or for civil fines imposed pursuant to Kan. Stat. Ann. 2023 Supp. 58-4723, and amendments thereto, such deposit shall be credited to the appraiser fee fund. All expenditures from such fund shall be made in accordance with appropriations acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the chairperson of the board or by a person or persons designated by the chairperson. Civil fines shall be credited to the state general fund.
(d) All amounts required to be collected and actually collected for the AMC federal registry fees shall be credited totally to the AMC federal registry clearing fund which is hereby created in the state treasury. All disbursements from the AMC federal registry clearing fund shall be made upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the chairperson of the board or by a person or persons designated by the chairperson. Amounts credited to the AMC federal registry clearing fund under this section shall not be subject to any limitations imposed by the appropriations act of the legislature.