(a) A person applying for registration as an appraisal management company shall designate an individual to serve as a controlling person that will be the main contact for all communication between the Commission and the appraisal management company.
(b) The controlling person designated under subsection (a) of this section shall:
(1) have never had a license or certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in any state, unless the license or certificate was subsequently granted or reinstated;
(2) be of good character and reputation, as determined by the Commission; and
(3) submit to a background investigation, as determined by the Commission.