Appraiser: means an individual who engages in a real estate appraisal activity. See Utah Code 61-2e-102
Appraiser panel: includes an appraiser whom the appraisal management company has:
(i)
accepted for consideration for a future appraisal assignment:
(A)
in a residential mortgage loan transaction; or
(B)
for a secondary mortgage market participant in connection with a residential mortgage loan transaction; or
(ii)
engaged to perform an appraisal:
(A)
in a residential mortgage loan transaction; or
(B)
for a secondary mortgage market participant in connection with a residential mortgage loan transaction. See Utah Code 61-2e-102
Board: means the Real Estate Appraiser Licensing and Certification Board that is created in Section 61-2g-204. See Utah Code 61-2e-102
Controlling person: means :
(a)
an owner, officer, or director of an entity seeking to offer appraisal management services;
(b)
an individual employed, appointed, or authorized by an appraisal management company who has the authority to:
(i)
enter into a contractual relationship with a client for the performance of an appraisal management service; and
(ii)
enter into an agreement with an appraiser for the performance of a real estate appraisal activity; or
(c)
a person who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company. See Utah Code 61-2e-102
Plaintiff: The person who files the complaint in a civil lawsuit.
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
Service of process: The service of writs or summonses to the appropriate party.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Territory: means any of the following United States territories:
If an entity pays a fee or costs to the division with a negotiable instrument or other method that is not honored for payment:
(i)
the transaction for which the payment is submitted is voidable by the division;
(ii)
the division may reverse the transaction if payment of the applicable fee or costs is not received in full; and
(iii)
the entity’s registration is automatically suspended:
(A)
beginning the day on which the payment is due; and
(B)
ending the day on which payment is made in full.
(2)
A registration application shall include the following:
(a)
the name of the entity seeking registration;
(b)
a business address of the entity seeking registration;
(c)
telephone contact information of the entity seeking registration;
(d)
if the entity is not an entity domiciled in this state, the name and contact information for the entity’s agent for service of process in this state;
(e)
for each individual who owns 10% or more of the entity:
(i)
the individual’s name, address, and contact information;
(ii)
a statement of whether or not the individual has had a license or certificate to engage in an act related to a real estate or mortgage transaction refused, denied, canceled, or revoked in this state or in another state; and
(iii)
(A)
fingerprint cards in a form acceptable to the division at the time the registration application is filed; and
(B)
consent to a criminal background check by the Utah Bureau of Criminal Identification and the Federal Bureau of Investigation regarding the application;
(f)
the name, address, and contact information for each controlling person;
(g)
for the controlling person designated as the contact as required by Section 61-2e-201:
(i)
a statement of whether or not the individual has had a license or certificate to engage in an act related to a real estate or mortgage transaction refused, denied, canceled, surrendered in lieu of revocation, or revoked in this state or in another state, territory, or the District of Columbia; and
(ii)
(A)
fingerprint cards in a form acceptable to the division at the time the registration application is filed; and
(B)
consent to a criminal background check by the Utah Bureau of Criminal Identification and the Federal Bureau of Investigation regarding the application;
(h)
provide an explanation required by:
(i)
Section 61-2e-301, related to adding an individual to an appraiser panel;
(ii)
Section 61-2e-302, related to the review of the work of an appraiser; and
An irrevocable consent for service of process required to be filed under Subsection (1) shall provide that process may be served on the entity by delivering the process to the director if:
(a)
the service of process is for an action:
(i)
in a court of this state against an entity; and
(ii)
arising out of an act governed by this chapter; and
(b)
a plaintiff cannot, in the exercise of due diligence, obtain personal service upon the entity.
