SUBCHAPTER 57D – APPRAISAL MANAGEMENT COMPANIES

SECTION .0100 – APPLICATION FOR APPRAISAL MANAGEMENT REGISTRATION

21 NCAC 57D .0101         FORM

An appraisal management company that wishes to file an application for an appraisal management company certificate of registration may obtain the required form upon request to the Board or on the Board's website at www.ncappraisalboard.org. The appraisal management company shall submit an application to the Board by mail that includes the following information:

(1)           the legal name of the applicant;

(2)           the name under which the applicant will do business in North Carolina;

(3)           the type of business entity;

(4)           the address of its principal office;

(5)           the applicant's NC Secretary of State Identification Number if required to be registered with the Office of the NC Secretary of State;

(6)           a completed application for approval of the compliance manager, as set forth in G.S. 93E-2-5;

(7)           any past criminal conviction of and any pending criminal charge against the compliance manager and any person or entity that owns over 10 percent of the appraisal management company;

(8)           any past revocation, surrender in lieu of revocation, cancellation, refusal, or denial of an appraisal license of any person or entity that owns any part, directly or indirectly, of the appraisal management company;

(9)           any disciplinary action taken against the applicant, including the effective date of the disciplinary action and whether the applicant has complied;

(10)         other States where the applicant is registered to operate, if applicable;

(11)         applicant's employer identification number (EIN);

(12)         if a general partnership, a description of the applicant entity, including a copy of its written partnership agreement or, if no written agreement exists, a written description of the rights and duties of the several partners;

(13)         if a business entity other than a corporation, limited liability company, or partnership, a description of the organization of the applicant entity, including a copy of its organizational documents;

(14)         if a foreign business entity, a certificate of authority to transact business in North Carolina and an executed consent to service of process and pleadings;

(15)         a certification that the applicant has obtained a surety bond as required by G.S. 93E 2-4(g);

(16)         the name, address, and contact information for any individual or business entity that directly or indirectly owns over 10 percent of the appraisal management company; and

(17)         the annual size of the appraisal panel, in this state and nationwide, of the appraisal management company for the previous calendar year.

History Note:        Authority G.S. 93E-2-4; 93E-2-5; 93E-2-8;

Eff. January 1, 2011;

Amended Eff. July 1, 2014;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 3, 2017;

Amended Eff. August 1, 2024; May 1, 2020.