New York § 160-IIII Controlling persons

New York Statutes

§ 160-IIII — Controlling persons

New York § 160-IIII

Law EXCExecutive

Art. 6-HReal Estate Appraisal Management Companies

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Bluebook

N.Y. Executive § 160-IIII (2026).

Text

§ 160-iiii. Controlling persons.

1.Each appraisal management company\napplying for a certificate of registration shall designate one\ncontrolling person who shall be the main contact for all communication\nbetween the department and the appraisal management company. Such\ndesignated controlling person shall never have had a license or\ncertificate to act as an appraiser denied, revoked, or surrendered in\nlieu of possible discipline in any state and shall be of good moral\ncharacter, as determined by the department. Applicants shall cooperate\nwith any such background investigation conducted by the department.\n 2. Each person that owns more than ten percent of an appraisal\nmanagement company shall be of good moral character, as determined by\nthe department. Applicants shall cooperat

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§ 160-iiii. Controlling persons. 1. Each appraisal management company\napplying for a certificate of registration shall designate one\ncontrolling person who shall be the main contact for all communication\nbetween the department and the appraisal management company. Such\ndesignated controlling person shall never have had a license or\ncertificate to act as an appraiser denied, revoked, or surrendered in\nlieu of possible discipline in any state and shall be of good moral\ncharacter, as determined by the department. Applicants shall cooperate\nwith any such background investigation conducted by the department.\n 2. Each person that owns more than ten percent of an appraisal\nmanagement company shall be of good moral character, as determined by\nthe department. Applicants shall cooperate with any such background\ninvestigation conducted by the department.\n 3. Each appraisal management company applying for a certificate of\nregistration shall certify to the department that it has reviewed each\nentity that owns more than ten percent of the appraisal management\ncompany and that no entity that owns more than ten percent of the\nappraisal management company is more than ten percent owned by any\nperson that has had a license or certificate to act as an appraiser\ndenied, revoked, or surrendered in lieu of a pending revocation.\n