C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 225—BANK HOLDING COMPANIES AND CHANGE IN BANK CONTROL (REGULATION Y) › Subpart M—Minimum Requirements for Appraisal Management Companies

12 C.F.R. § 225.194

Ownership limitations for State-registered appraisal management companies

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(a) Appraiser certification or licensing of owners. (1) An AMC subject to State registration pursuant to § 225.193 shall not be registered by a State or included on the AMC National Registry if such AMC, in whole or in part, directly or indirectly, is owned by any person who has had an appraiser license or certificate refused, denied, cancelled, surrendered in lieu of revocation, or revoked in any State for a substantive cause, as determined by the appropriate State appraiser certifying and licensing agency.

(2) An AMC subject to State registration pursuant to § 225.193 is not barred by paragraph (a)(1) of this section from being registered by a State or included on the AMC National Registry if the license or certificate of the appraiser with an ownership interest was not revoked for a substantive cause and has been reinstated by the State or States in which the appraiser was licensed or certified.

(b) Good moral character of owners. An AMC shall not be registered by a State if any person that owns more than 10 percent of the AMC—

(1) Is determined by the State appraiser certifying and licensing agency not to have good moral character; or

(2) Fails to submit to a background investigation carried out by the State appraiser certifying and licensing agency.

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2021–2021 · leading case: Collateral Mgt., L.L.C. v. Ohio Dept. of Com., 2021 Ohio 1641 (Ohio Ct. App. 2021).
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Collateral Mgt., L.L.C. v. Ohio Dept. of Com., 2021 Ohio 1641 (Ohio Ct. App. 2021). · cites it 2× “06(B)(4) and 12 C.F.R. 225.194(a)(1), or 34.214(a)(1) as cited by the Board, require an examination of whether the surrender was for a "substantive reason" and "in lieu of revocation" to trigger an AMC registration restriction.”
— 12 C.F.R. § 225.194(a)(1) — 1 case
Collateral Mgt., L.L.C. v. Ohio Dept. of Com., 2021 Ohio 1641 (Ohio Ct. App. 2021). “06(B)(4) and 12 C.F.R. 225.194(a)(1), or 34.214(a)(1) as cited by the Board, require an examination of whether the surrender was for a "substantive reason" and "in lieu of revocation" to trigger an AMC registration restriction.”
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