1. Designation of controlling person. An appraisal management company applying to the board for a license or for renewal of a license shall designate one controlling person that will be the main contact for all communication between the board and the appraisal management company.

[PL 2017, c. 475, Pt. D, §1 (REEN).]

Terms Used In Maine Revised Statutes Title 32 Sec. 14047

  • Appraisal: A determination of property value.
  • Appraisal management company: means a person that:
A. See Maine Revised Statutes Title 32 Sec. 14042
  • Appraiser: means a person licensed under chapter 124. See Maine Revised Statutes Title 32 Sec. 14042
  • Board: means the Board of Real Estate Appraisers under section 14011. See Maine Revised Statutes Title 32 Sec. 14042
  • Controlling person: means :
    • A. See Maine Revised Statutes Title 32 Sec. 14042
  • Person: means an individual, firm, partnership, association, corporation, limited liability company, sole proprietorship or any other entity. See Maine Revised Statutes Title 32 Sec. 14042
    • 2. Requirements. A controlling person must:
    A. Be actively licensed or certified in at least one state as an appraiser at all times that the person is designated as a controlling person; [PL 2017, c. 475, Pt. D, §1 (REEN).]
    B. Have never had a license or certificate to act as an appraiser refused, denied, cancelled, revoked or surrendered in lieu of a pending revocation for substantive cause in any state; [PL 2017, c. 475, Pt. D, §1 (REEN).]
    C. Be of good moral character, as determined by the board; and [PL 2017, c. 475, Pt. D, §1 (REEN).]
    D. Submit to a background investigation, as required by the board. [PL 2017, c. 475, Pt. D, §1 (REEN).]

    [PL 2017, c. 475, Pt. D, §1 (REEN).]

    SECTION HISTORY

    PL 2017, c. 270, §1 (NEW). PL 2017, c. 475, Pt. D, §1 (REEN). MRSA T. 32 §14049-K, sub-§1 (RP).
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