(a) It shall be unlawful for a person to directly or indirectly engage or to attempt to engage in business as an appraisal management company in the District, or to advertise or hold itself out as engaging in or conducting business as an appraisal management company in the District without first obtaining a registration issued by the Department.
(b) An applicant for registration as an appraisal management company in the District shall submit to the Department an application on forms prescribed by the Department and pay a fee established by the Department. The forms shall require information necessary to determine eligibility for registration.
(c) Upon registration of an appraisal management company in the District, the Department may require a surety bond of not more than $25,000.
(Mar. 16, 2021, D.C. Law 23-206, § 104, 68 DCR 00057.)
Emergency LegislationFor temporary (90 days) creation of this section, see § 104 of Appraisal Management Company Regulation Emergency Act of 2019 (D.C. Act 23-110, July 31, 2019, 66 DCR 178).
Temporary LegislationFor temporary (225 days) creation of this section, see § 104 of Appraisal Management Company Regulation Temporary Act of 2020 (D.C. Law 23-140, Oct. 20, 2020, 67 DCR 9891).