§ 543E.7 — Designation of controlling person

Iowa § 543E.7

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 543E: REAL ESTATE APPRAISAL MANAGEMENT COMPANIES

Text

1. An appraisal management company registered or applying for registration in this state
shall designate a controlling person who shall be the main contact for all communications
between the director and the appraisal management company, and who shall be responsible
for assuring the appraisal management company complies with the provisions of this chapter
when performing appraisal management services in connection with real estate located in
this state.
2. The designated controlling person shall not have had a license or certificate to act as
an appraiser refused, denied, canceled, revoked, or surrendered in lieu of revocation in any
state for a substantive reason. A designated controlling person may have had a license or
certificate to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of
revocation in a state for a nonsubstantive reason if the license or certificate was subsequently
granted or reinstated.
3. The designated controlling person shall be of good moral character, as prescribed by
rules adopted by the director consistent with applicable federal law and regulations, and
shall submit to a background investigation, as prescribed by rules adopted by the director
consistent with applicable federal law and regulations.