Section 43-23.5-08 - Owner requirements1. An appraisal management company applying for, holding, or renewing a registration under this chapter may not be owned by:a. An individual who has had an appraiser license or certification in this state or in any other state refused, denied, canceled, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated.b. An entity that is owned by any individual who has had an appraiser license or certification in this state or any other state refused, denied, canceled, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated.2. Each person that owns more than ten percent of an appraisal management company applying for, holding, or renewing a registration under this chapter:a. Must be of good moral character.b. Shall submit to a criminal background investigation for an initial application or as required by the board.3. Each appraisal management company applying for a registration or for renewal of a registration under this chapter shall certify to the board on a form prescribed by the board that the company has reviewed each entity that owns the appraisal management company and that no entity that owns the appraisal management company is owned by any person that has had an appraiser license or certification in this state or any other state refused, denied, canceled, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated.Amended by S.L. 2019, ch. 361 (SB 2075),§ 2, eff. 8/1/2019.Added by S.L. 2013, ch. 325 (HB 1389),§ 2, eff. 7/1/2013. See S.L. 2013, ch. 325 (HB 1389), § 3.