C.F.R. » Title 12 » CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY › PART 34—REAL ESTATE LENDING AND APPRAISALS › Subpart H—Appraisal Management Company Minimum Requirements

12 C.F.R. § 34.214

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 § 34.213 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 § 34.213 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 6× “This court notes that Collateral Management cites 12 C.F.R. 34.214 in its reply brief in the common pleas court.”
— 12 C.F.R. § 34.214(a)(1) — 1 case
Collateral Mgt., L.L.C. v. Ohio Dept. of Com., 2021 Ohio 1641 (Ohio Ct. App. 2021). “This court notes that Collateral Management cites 12 C.F.R. 34.214 in its reply brief in the common pleas court.”
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