Section 466NEW-4 - Powers and duties of the directorIn addition to any other powers and duties authorized by law, the director shall have the following powers and duties:
(1) Review and approve or deny an appraisal management company's application for initial registration;(2) Renew or deny an appraisal management company's registration periodically;(3) Examine the books and records of an appraisal management company operating in the State and require the appraisal management company to submit reports, information, and documents;(4) Verify that the appraisers on the appraisal management company's appraiser panel hold valid state licenses or certifications, as applicable;(5) Conduct investigations of appraisal management companies to assess potential violations of applicable appraisal-related laws, regulations, or orders;(6) Discipline, suspend, terminate, or deny renewal of the registration of an appraisal management company that violates applicable appraisal-related laws, regulations, or orders;(7) Report an appraisal management company's violation of applicable appraisal-related law, regulations, or orders, as well as disciplinary and enforcement actions and other relevant information about an appraisal management company's operations, to the Appraisal Subcommittee; and(8) Adopt, amend, and repeal rules, pursuant to chapter 91, as may be necessary to establish the appraisal management company registration program and implement, administer, and enforce this chapter. Added by L 2024, c 80,§ 2, eff. 6/21/2024.