Current through Register Vol. XLI, No. 35, August 30, 2024
Section 190-5-6 - Renewal and Reinstatement6.1. Renewals. 6.1.a. Registrations are renewed for the period from July 1 to June 30 of the following year.6.1.b. The board shall send a renewal notice to the controlling person identified by the appraisal management company by May 1 of each year.6.1.c. Failure to receive a renewal notice from the board does not relieve the appraisal management company of the responsibility to timely apply for renewal.6.1.d. A holder of an appraisal management company registration desiring the renewal of such registration shall apply in writing upon the form provided by the board and shall forward the renewal fee. Forms are available upon request to the board.6.1.e. Any company who acts or holds itself out as a registered appraisal management company while its appraisal management company registration is delinquent or expired is subject to disciplinary action and penalties as prescribed in W. Va. Code § 30-38A-16 and this rule.6.1.f. Fees for renewals or reinstatement are not refundable.6.2. Delinquent Registrations. 6.2.a. Registrations not renewed in a timely manner are delinquent. Registration renewals are due 30 days prior to June 30 of the renewal licensing year. Renewals received after May 31 are subject to a delinquent license fee pursuant to W.Va. Code § 30-38A-4 and Subdivision 6.2.b. of this rule.6.2.b. Delinquent renewal fees are two hundred fifty dollars ($250) per month for each delinquent month.6.2.c. Delinquent registrations may be reinstated within three months after expiration upon proper application and payment to the board of the renewal fee of two thousand dollars ($2,000) and the appropriate delinquent fees.6.3. Expired Registrations and Reinstatement of an Expired Registration.6.3.a. A registration that has been delinquent for more than three months shall be considered expired and a new application for registration is required.6.3.b. Reinstatement of an expired registration is not retroactive.