W. Va. Code R. § 190-5-11

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 190-5-11 - Temporary Authority to Conduct Business

11.1 An appraisal management company that is not exempt from W.Va. Code §30-38A, which began offering appraisal management services in this state before July 1, 2014, and has continued to offer appraisal management services in this state since then without interruption, may continue to offer appraisal management services after July 1, 2014, without first being registered if:

11.1.a. An application has been filed with the Board;

11.1.b. The appropriate fees have been paid;

11.1.c. The individual who signed the application in the capacity of the controlling person continues to act as controlling person until the application is approved, considered withdrawn, provisionally denied, or denied by final order;

11.1.d. The application has not been:

11.1.d.1. Considered withdrawn;

11.1.d.2. Provisionally denied;

11.1.d.3. Denied by final order; or

11.1.d.4. Approved;

11.2. An appraisal management company that is not exempt from, W.Va. Code §30-38A, which has not started offering appraisal management services in this state by July 1, 2014, may not offer appraisal management services in this state until registered.

11.3. Authority to conduct business temporarily without registration under this section terminates on the date that an application has been:

11.3.a. Considered withdrawn;

11.3.b. Provisionally denied;

11.3.c. Denied by final order; or

11.3.d. Approved.

11.4. For purposes of this section, an appraisal management company has continued to offer appraisal management services in this state without interruption if it has made at least one appraisal assignment in each calendar month for real property in this state and has maintained records required under §30-38A for each appraisal assignment made.

W. Va. Code R. § 190-5-11