Ill. Admin. Code tit. 68 § 1452.20

Current through Register Vol. 48, No. 48, December 2, 2024

Section 1452.20 - Application for Original Registration

a) An applicant for registration as an appraisal management company shall, in accordance with Sections 35 and 40 of the Act, file an application with the Division, on forms provided by the Division, on which all questions have been answered, together with the following:

1) Company name, address, telephone number, e-mail address and other contact information of the principal office in Illinois where services are provided. A post office box by itself is not acceptable;

2) If the company does not maintain a principal office in Illinois, the address, telephone number, e-mail address and other contact information of its out-of-state office that has responsibility for its Illinois operations (a post office box by itself is not acceptable) and the name of the agent for service of process;

3) The type of business organization.

A) If a sole proprietorship, the name of the owner;

B) If a partnership, a listing of all partners;

C) If a corporation based in Illinois, a copy of the Articles of Incorporation, a proof of good standing issued by the Secretary of State or obtained from the Secretary of State's website within the previous 60 days, and a listing of all persons or business entities and his, her or its contact information and Illinois appraisal license number, if applicable, that hold an ownership interest of 10% or more of the company. If using an assumed name (d/b/a), a copy of the assumed name registration issued by the Secretary of State. If the corporation is a foreign corporation, a copy of the Articles of Incorporation and proof of good standing from the state in which the corporation is domiciled;

D) If a limited liability company, a copy of the Articles of Organization, proof of good standing issued by the Secretary of State or obtained from the Secretary of State's website within the previous 60 days, and a listing of the members of the limited liability company and his, her or its contact information and Illinois appraisal license number, if applicable, that hold an ownership interest of 10% or more of the company;

E) If another type of business entity, the same or similar information, as applicable, to that listed in this subsection (a);

4) The name, address, telephone number, e-mail address and other contact information of the designated controlling person and answers to questions concerning his or her history of convictions for criminal offenses, denial or discipline of a professional license, discharge from military or government service, and delinquency on any student loan, state taxes or child support payments;

5) A signed irrevocable uniform consent to service of process form provided by the Division;

6) A listing of any other states where the company is registered, along with the registration number. A registrant shall have no obligation to update this list after issuance of its registration;

7) The certifications required under Section 40 of the Act;

8) The bond required under Section 50 of the Act and this Part; and

9) The required fee specified in Section 1452.200.

b) The application shall be signed and dated by the designated controlling person.

Ill. Admin. Code tit. 68, § 1452.20