Source: https://app.leg.wa.gov/RCW/default.aspx?cite=18.310&full=true
Timestamp: 2019-06-18 03:17:21
Document Index: 254072983

Matched Legal Cases: ['§ 2', '§ 3', '§ 5', '§ 15', '§ 6', '§ 8', '§ 9', '§ 11', '§ 12', '§ 16', '§ 17', '§ 21']

Chapter 18.310 RCW: APPRAISAL MANAGEMENT COMPANIES
RCWs > Title 18 > Chapter 18.310
Chapter 18.310 RCW
18.310.010 Definitions.
18.310.020 Powers and duties of director.
18.310.030 Immunity.
18.310.040 Applications—Original and renewals—Surety bonds.
18.310.050 Out-of-state companies—Consent for service of process.
18.310.060 Licensure—Requirements.
18.310.070 Background investigations.
18.310.080 Licensure—Required use of name and license number.
18.310.090 Owner requirements.
18.310.100 Controlling person requirements.
18.310.110 Appraiser requirements.
18.310.120 Exemptions.
18.310.130 Recordkeeping.
18.310.140 Disputes between appraisal management company and appraiser.
18.310.150 Disciplinary actions—Grounds.
18.310.160 Appraisal management company account.
18.310.170 Uniform regulation of business and professions act.
18.310.901 Effective date—2010 c 179.
RCW 18.310.020
(1) Adopt rules to implement this chapter;
(2) Establish appropriate administrative procedures for the processing of the applications;
(3) Issue licenses to qualified companies under the provisions of this chapter;
(4) Maintain a roster of the names and addresses of companies licensed under this chapter;
(5) Employ professional, clerical, and technical assistance as may be necessary to properly administer the work of the director;
(6) Establish forms necessary to administer this chapter;
(7) Oversee the performance of any background investigations;
(8) Initiate and oversee investigations and any audits;
(9) Establish grounds for disciplinary actions;
(10) Adopt fees under RCW 43.24.086; and
(11) Do all other things necessary to carry out the provisions of this chapter and comply with the requirements of any pertinent federal laws pertaining to appraisal management companies.
[ 2010 c 179 § 2.]
RCW 18.310.030
The director or individuals acting on behalf of the director are immune from suit in any action, civil or criminal, based on any acts performed in the course of their duties except for their intentional or willful misconduct.
[ 2010 c 179 § 3.]
Applications—Original and renewals—Surety bonds.
*** CHANGE IN 2019 *** (SEE 5124.SL) ***
RCW 18.310.050
Out-of-state companies—Consent for service of process.
Every company seeking licensure whose headquarters is not based in the state of Washington shall submit, with the application for licensure, an irrevocable consent that service of process upon the controlling person or persons may be made by service on the director if, in an action against the entity in a Washington state court arising out of the entity's activities as an appraisal management company, the plaintiff cannot, in the exercise of due diligence, obtain personal service upon the company.
[ 2010 c 179 § 5.]
RCW 18.310.070
Background investigations under this chapter consist of fingerprint-based background checks through the Washington state patrol criminal identification system and through the federal bureau of investigation. The applicant is required to pay the current federal and state fees for fingerprint-based criminal history background checks. The applicant shall submit the fingerprints and required fees for the background checks to the department for submission to the Washington state patrol.
[ 2010 c 179 § 15.]
RCW 18.310.080
Licensure—Required use of name and license number.
(1) A license issued under this chapter must bear the signature or facsimile signature of the director and a license number assigned by the director.
[ 2010 c 179 § 6.]
RCW 18.310.090
(1) Each entity owning more than ten percent of an appraisal management company may not be:
(a) Directly controlled by a person who has had a license or certificate to act as an appraiser refused, denied, canceled, or revoked; or
(b) More than ten percent owned by any person who has had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state.
(2) Each person that owns more than ten percent of an appraisal management company must:
(a) Not have had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state;
(b) Be of good moral character, as determined by the department; and
(c) Submit to a background investigation under RCW 18.310.070.
(3) Each appraisal management company must certify to the department that it has reviewed each and every individual or entity that owns more than ten percent of the appraisal management company and that no person or entity that owns more than ten percent of the appraisal management company is prohibited from owning an appraisal management company under this section.
(4) A person under this section may appeal an adjudicative proceeding involving a final decision of the director to deny, suspend, or revoke a license under chapter 18.235 RCW.
[ 2010 c 179 § 8.]
RCW 18.310.100
Controlling person requirements.
(1)(a) An appraisal management company shall designate one controlling person that will be the main contact for all communication between the department and the appraisal management company.
(b) Should the controlling person change, the appraisal management company must notify the director within fourteen business days and provide the name and contact information of the new controlling person.
(2) The controlling person designated under subsection (1) of this section must:
(a) Have never had a license or certificate to act as an appraiser surrendered in lieu of disciplinary action, refused, denied, canceled, or revoked in any state;
[ 2010 c 179 § 9.]
RCW 18.310.120
(1) A department or unit within a financial institution that is subject to direct regulation by an agency of the United States government, or to regulation by an agency of this state, that receives a request for the performance of an appraisal from one employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser that is part of an appraiser panel; or
(2) An appraiser that enters into an agreement, whether written or otherwise, with another appraiser for the performance of an appraisal, and upon completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the appraiser who requested the completion of the appraisal.
[ 2010 c 179 § 11.]
RCW 18.310.130
[ 2010 c 179 § 12.]
RCW 18.310.160
Appraisal management company account.
The appraisal management company account is created in the state treasury. All fees and penalties under this chapter must be paid to the account. Expenditures from the account may be used only for expenses incurred in carrying out the provisions of this chapter. Any residue in the account shall be accumulated and shall not revert to the general fund at the end of the biennium. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.
[ 2010 c 179 § 16.]
RCW 18.310.170
[ 2010 c 179 § 17.]
RCW 18.310.901
Effective date—2010 c 179.
[ 2010 c 179 § 21.]