AB 2764, as introduced, Williams. Appraisal management companies: registration.
Existing law, the Real Estate Appraisers’ Licensing and Certification Law, provides for the licensure and regulation of real estate appraisers and vests the duty of enforcing and administering that law in the Bureau of Real Estate Appraisers within the Department of Consumer Affairs. Existing law requires an appraisal management company, as defined, to register with the bureau. Existing law requires the Chief of the Bureau of Real Estate Appraisers to adopt regulations governing the process and procedure of registration that require, at minimum, among other things, the business address and telephone number of the person or entity seeking registration.
This bill would additionally require that those regulations include the email address of the person or entity seeking registration.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 11345 of the Business and Professions
2Code is amended to read:
The director shall adopt regulations governing the
2process and procedure of applying for registration as an appraisal
3management company. Applications for a certificate of registration
4shall require, at a minimum, all of the following:
5(a) The name of the person or entity seeking registration.
6(b) The business addressbegin insert, email address,end insert and telephone number
7of the person or entity seeking registration.
8(c) If the applicant is not a person or entity domiciled in this
9state, the name and contact number of a person or entity acting as
10agent for service of
process in this state, along with an irrevocable
11consent to service of process in favor of the office.
12(d) The name, address, and contact information for each
13controlling person employed by the applicant who has operational
14authority to direct the management of, and establish policies for,
15the applicant. If the applicant employs more than 10 individuals
16meeting the criteria of this subdivision, the applicant may list the
17names, addresses, and contact information for the 10 individuals
18meeting the criteria who hold the greatest level of management
19responsibility within its organization.
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