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Delaware Code Title 24. Professions and Occupations § 4026. Appraisal management company controlling person

Current as of January 01, 2022 | Updated by FindLaw Staff

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

(b) To serve as a controlling person of an appraisal management company, a person shall:

(1) Certify to the Council that the person has never had any financial, real estate or mortgage lending industry license or certificate issued by this State, or any other state, refused, denied, canceled, revoked or voluntarily surrendered, unless such license or certificate was subsequently granted or reinstated. This requirement may be waived by appeal and at the discretion of the Council.

(2)a. A report of the applicant's entire federal criminal history record pursuant to the Federal Bureau of Investigation appropriation of Title II of Public Law 92-544 (28 U.S.C. § 534). The State Bureau of Identification shall be the intermediary for purposes of this section and the Council on Real Estate Appraisers shall be the screening point for the receipt of said federal criminal history records.

b. An applicant may not be registered until the applicant's criminal history reports have been produced. An applicant whose record shows a prior criminal conviction may not be registered by the Council unless a waiver is granted pursuant to § 4008(a)(4) of this title. The State Bureau of Identification may release any subsequent criminal history to the Council.

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Cite this article: FindLaw.com - Delaware Code Title 24. Professions and Occupations § 4026. Appraisal management company controlling person - last updated January 01, 2022 | https://codes.findlaw.com/de/title-24-professions-and-occupations/de-code-sect-24-4026/

Read this complete Delaware Code Title 24. Professions and Occupations § 4026. Appraisal management company controlling person on Westlaw

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