(a) Each appraisal management company applying to the commission for a registration in this state shall designate one (1) controlling person who will be the main contact for all communication between the commission and the appraisal management company.

Terms Used In Tennessee Code 62-39-410

  • Appraisal: A determination of property value.
  • Appraisal: means the act or process of developing an opinion of value of identified real estate. See Tennessee Code 62-39-402
  • Appraiser: means an individual who holds a license under part 1 of this chapter. See Tennessee Code 62-39-402
  • Commission: means the real estate appraiser commission created by §. See Tennessee Code 62-39-402
  • Controlling person: means :
    (A) An owner, officer or director of a corporation, partnership, or other business entity seeking to offer appraisal management services in this state. See Tennessee Code 62-39-402
  • Person: means a natural person or an entity, including a corporation, limited liability company, partnership, sole proprietorship, association, cooperative, estate, trust, or government unit. See Tennessee Code 62-39-402
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) The designated controlling person pursuant to subsection (a) shall:

(1) Have never had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of a pending revocation in any state;
(2) Be of good moral character, as determined by the commission; and
(3) Submit to a background investigation, as determined by the commission.
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