§ 5-20.9-7. Initial registration, renewals, forms, and fees.
(a) An applicant for registration as an appraisal management company shall submit to the
department an application on forms prescribed by the department and pay the required
fee(s).
(b) The fees for initial registration, renewal, and late renewals shall be determined
by the director and established by regulation.
(c) There is hereby created a restricted-receipt account within the general fund of the
state to be known as the appraisal management company — registration account. Fees
collected pursuant
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§ 5-20.9-7. Initial registration, renewals, forms, and fees.
(a) An applicant for registration as an appraisal management company shall submit to the
department an application on forms prescribed by the department and pay the required
fee(s).
(b) The fees for initial registration, renewal, and late renewals shall be determined
by the director and established by regulation.
(c) There is hereby created a restricted-receipt account within the general fund of the
state to be known as the appraisal management company — registration account. Fees
collected pursuant to this section shall be deposited into this account and be used
to finance costs associated with appraisal management company registration and operations.
The restricted receipt account will be included in the budget of the department of
business regulation.
(d) Every appraisal management company that desires to renew a registration for the next
term shall apply for the renewal of the registration upon a form furnished by the
director and containing information that is required by this chapter. Renewal of a
registration is subject to the same provisions as the initial registration.
(e) The department shall receive applications for registration for initial licensing and
renewal and establish administrative procedures for processing applications and issuing
and renewing registrations.
(f) The department shall have the authority to assess and collect from registered entities,
the appraisal management companies (AMC) federal registry fee in any amount assessed
by the appraisal subcommittee of the Federal Financial Institutions Examination Council
or its successor entity, and transmit the fee to the Federal Financial Institutions
Examination Council.
(g) A federally regulated appraisal management company operating in this state shall report
to the department any information necessary for the department to assess, collect,
and forward the AMC federal registry fee in any amount assessed by the appraisal subcommittee
of the Federal Financial Institutions Examination Council or its successor entity.
Rhode Island § 5-20.9-7 (§ 5-20.9-7. Initial registration, renewals, forms, and fees.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.