33-39-209. Owner requirements.
(a) No appraisal management company shall be eligible for registration in this state if the company, in whole or in part, directly or indirectly, is owned by any person who has had an adverse action in any jurisdiction for a substantive cause as determined by the board. If a person has had an adverse action, but the person certifies to the board that the adverse action was for other than a substantive cause and that the person's license or certificate has been issued or reinstated, as applicable, this subsection shall not apply.
(b) Each person who owns more than ten percent (10%) of an appraisal management company performing appraisal management services regarding real estate located in this state shall:
(i) Have not been convicted of or pleaded guilty or nolo contendere to any felony involving theft, dishonesty or breach of trust;
(ii) Submit fingerprints and other information necessary for a criminal history record background check as provided under W.S. 7-19-201; and
(iii) Certify to the board that:
(A) The person has never had an adverse action in this state or in any other jurisdiction; or
(B) The adverse action was for other than a substantive cause and the person's license or certificate has been issued or reinstated, as applicable, by the state or states in which the appraiser was licensed or certified.