18.310.090 - Owner requirements. - Washington Statutes

Owner requirements. (Effective July 1, 2011.)

(1) Each entity owning more than ten percent of an appraisal management company may not be:

     (a) Directly controlled by a person who has had a license or certificate to act as an appraiser refused, denied, canceled, or revoked; or

     (b) More than ten percent owned by any person who has had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state.

     (2) Each person that owns more than ten percent of an appraisal management company must:

     (a) Not have had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state;

     (b) Be of good moral character, as determined by the department; and

     (c) Submit to a background investigation under RCW 18.310.070.

     (3) Each appraisal management company must certify to the department that it has reviewed each and every individual or entity that owns more than ten percent of the appraisal management company and that no person or entity that owns more than ten percent of the appraisal management company is prohibited from owning an appraisal management company under this section.

     (4) A person under this section may appeal an adjudicative proceeding involving a final decision of the director to deny, suspend, or revoke a license under chapter 18.235 RCW.

[2010 c 179 § 8.]