2023 Kansas Statutes › Chapter 58 - Personal And Real Property › Article 47 - Kansas Appraisal Management Company Registration Act › 58-4704 Application for registration; transmission of information to national registry.

58-4704. Application for registration; transmission of information to national registry.
(a) The application for the registration shall be on a form approved by the board and shall, at a minimum, include the following information:
(1) The legal name and any other trade or business name of the entity seeking registration;
(2) the mailing and physical addresses of the entity seeking registration;
(3) the telephone, email, website, and facsimile contact information of the entity seeking registration;
(4) if the entity is a corporation, limited liability company, partnership, association, sole proprietorship or any other business entity that is not domiciled in this state:
(A) The name and contact information for the entity's agent for service of process in this state pursuant to K.S.A. 2023 Supp. 58-4707, and amendments thereto; and
(B) proof that the entity is properly and currently registered with the Kansas office of the secretary of state;
(5) the name, mailing and physical addresses, telephone, email and facsimile contact for any person that owns 10% or more of the AMC;
(6) the name, mailing and physical addresses, telephone, email and facsimile contact for the named controlling person;
(7) a certification that the entity has a system and process in place to verify that a person being added to the appraiser panel of the AMC for appraisal services being performed in Kansas:
(A) Holds a credential in good standing in this state pursuant to the state certified and licensed real estate appraisers act and the regulations adopted thereunder if a license or certification is required to perform appraisals, pursuant to K.S.A. 2023 Supp. 58-4711, and amendments thereto; and
(B) is geographically competent and performs appraisal assignments within the appraiser's scope of practice;
(8) a certification that the entity has a system in place to review an amount or percentage of the appraisal reports submitted by each appraiser who is performing real estate appraisal services for the AMC within Kansas as specified in rules and regulations of the board on an annual basis to validate that the real estate appraisal services are being conducted in accordance with USPAP and the state certified and licensed real estate appraisers act and the regulations adopted thereunder, pursuant to K.S.A. 2023 Supp. 58-4712, and amendments thereto;
(9) a certification that the entity maintains a detailed record of each service request that it receives and the appraiser that performs real estate appraisal services for the AMC, pursuant to K.S.A. 2023 Supp. 58-4713, and amendments thereto;
(10) an irrevocable consent to service of process pursuant to K.S.A. 2023 Supp. 58-4707, and amendments thereto;
(11) any other information reasonably required by the board to evaluate compliance with the application requirements in this act; and
(12) a certification that the entity requires that appraisals are conducted independently and free from inappropriate influence and coercion pursuant to the appraisal independence standards established under section 129E of the truth in lending act, as specified in K.S.A. 2023 Supp. 58-4716(a), and amendments thereto.
(b) The board shall review each application that is properly submitted and either issue the registration to the applicant or deny such application in accordance with the provisions of this act.
(c) The board may transmit information and any disciplinary action taken on any appraisal management company to the national registry of the appraisal subcommittee.
History:
L. 2012, ch. 93, § 4; L. 2018, ch. 69, § 1; July 1.