Section 339.1110

Title XXII OCCUPATIONS AND PROFESSIONS

Chapter 339

Effective - 28 Aug 2010, 2 histories, see footnote   (history) 

  339.1110.  Registration requirements. — 1. No person shall directly or indirectly engage or attempt to engage in business as an appraisal management company, to directly or indirectly engage or attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as an appraisal management company without first obtaining a registration issued by the commission under sections 339.1100 to 339.1240.

  2. The registration required by subsection 1 of this section shall, at a minimum, include the following:

  (1) Name of the entity seeking registration;

  (2) Business address of the entity seeking registration, which shall be located and maintained within this state;

  (3) Phone contact information of the entity seeking registration;

  (4) If the entity is not a corporation that is domiciled in this state, the name and contact information for the company's agent for service of process in this state;

  (5) The name, address, and contact information for any individual or any corporation, partnership, or other business entity that owns ten percent or more of the appraisal management company;

  (6) The name, address, and contact information for a designated controlling person to be the primary communication source for the commission;

  (7) A certification that the entity has a system and process in place to verify that a person being added to the appraiser panel of the appraisal management company for appraisal services to be performed in Missouri holds a license in good standing in Missouri, if a license or certification is required to perform appraisals under section 339.1180;

  (8) A certification that the entity has a system in place to review the work of all appraisers who are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with Uniform Standards of Professional Appraisal Practice (USPAP) under section 339.1185;

  (9) A certification that the entity maintains a detailed record of each service request that it receives for appraisal services within the state of Missouri and the appraiser who performs the real estate appraisal services for the appraisal management company under section 339.1190;

  (10) An irrevocable uniform consent to service of process under section 339.1130; and

  (11) Any other reasonable information required by the commission to complete the registration process.

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(L. 2010 H.B. 1692, et al.)