Section 286.
(a)The board may, by order, deny, suspend, revoke or refuse to issue or renew a registration of an appraisal management company or may restrict or limit the activities of a person who owns an interest in or participates in the business of an appraisal management company if the board determines that an applicant or a registrant or a partner, member, manager, officer, director, managing principal or person occupying a similar status performing similar functions or directly or indirectly controlling the applicant or registrant has:
(i)filed an application for registration that, as of its effective date or as of any date after filing, contains a statement that, in light of the circumstances under which it was made, is false or misleading with respect to any material fact;
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Section 286. (a) The board may, by order, deny, suspend, revoke or refuse to issue or renew a registration of an appraisal management company or may restrict or limit the activities of a person who owns an interest in or participates in the business of an appraisal management company if the board determines that an applicant or a registrant or a partner, member, manager, officer, director, managing principal or person occupying a similar status performing similar functions or directly or indirectly controlling the applicant or registrant has:(i) filed an application for registration that, as of its effective date or as of any date after filing, contains a statement that, in light of the circumstances under which it was made, is false or misleading with respect to any material fact;(ii) violated or failed to comply with sections 276 to 289, inclusive;(iii) been convicted of a felony or, within the past 5 years, been convicted of a misdemeanor involving an activity related to the transfer of real property including, but not limited to, mortgage lending or real estate appraisal or any offense involving breach of trust, moral turpitude or fraudulent or dishonest dealing;(iv) been permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the real estate appraisal management business;(v) been the subject of an order of the board or any other state appraiser regulatory agency denying, suspending or revoking the person's license as an appraiser;(vi) acted as an appraisal management company while not properly registered by the board;(vii) structured an appraisal assignment or a contract with an appraiser for the purpose of evading sections 276 to 289, inclusive; or(viii) failed to pay the proper filing or renewal fee under sections 276 to 289; inclusive.(b) The board may, by order, impose a civil penalty upon a registrant, or upon a partner, officer, director, managing principal, controlling person, employee in charge or other person occupying a similar status or performing similar functions on behalf of a registrant, for a violation of sections 276 to 289, inclusive. The civil penalty shall not exceed $10,000 for each violation.(c) Upon finding that any action of a person is in violation of sections 276 to 289, inclusive, the board may, in addition to any other penalties under said sections 276 to 289, inclusive, order the person to cease from the prohibited action. If the person subject to the order fails to appeal the order of the board or the person appeals the order and the appeal is denied or dismissed and the person continues to engage in the prohibited action in violation of the board's order, the person shall be subject to a civil penalty of not more than $25,000 for each violation of the order. The penalty under this section shall be in addition to and not in lieu of any other penalty applicable to a registrant for the registrant's failure to comply with an order of the board.(d) Unless otherwise provided, all actions and hearings under sections 276 to 289, inclusive, shall be governed by chapter 30A.(e) If the board has reasonable grounds to believe that an appraisal management company has violated sections 276 to 289, inclusive, or that facts exist that would be the basis for an order against an appraisal management company, the board may, either personally or by a person designated by the board, investigate or examine the books, accounts, records and files of any registrant or other person relating to the complaint or matter under investigation.(f) The board may issue subpoenas requiring the attendance of persons and the production of papers and records before the board in any hearing, investigation, inquiry or other proceeding conducted by the board. Upon the production of any papers, records or documents, the board may authorize true copies thereof to be substituted in the permanent record of the matter in which the papers, records or documents were introduced in evidence.