61-6.043. Renewel Process for Appraisal Management Company

(1) Each registration of an appraisal management company shall be renewed on a biennial basis. The schedule for biennial renewal shall be as established in subsection 61-6.001(4), F.A.C.

(2) When the total period of inactive status exceeds 4 years, the registration shall automatically expire per section 475.619(2), F.S. and the appraisal management company must meet all the requirements for initial registration. If automatic expiration has occurred pursuant to section 475.619(2), F.S., the appraisal management company shall be required to meet all requirements for initial licensure. Two years prior to the expiration, the Department of Business and Professional Regulation shall give notice by mail or email to the last known mailing or email address of the registrant.

(3) Inactive Registration.

(a) At any time after obtaining registration as an appraisal management company, the registrant may request inactive status by submitting Form DBPR FREAB-2, “Appraisal Management Company – Maintenance,” incorporated by reference in rule 61-35.026, F.A.C. The fee to change licensure status is found in rule 61J1-2.001, F.A.C.

(b) An appraisal management company, whose registration is designated inactive pursuant to subsection (1), (2) or (3) above, may request an active registration on Form DBPR FREAB-2, “Appraisal Management Company – Maintenance,” incorporated by reference in rule 61-35.026, F.A.C. The fee to change licensure status is found in rule 61J1-2.001, F.A.C.

(4) Current biennial renewal fees specified in subsection 61J1-2.001(2), F.A.C. and late fees set forth in subsection 61J1-2.001(6), F.A.C., shall be collected for each period of inactivity through the elected or automatic inactive date.

Rulemaking Authority 455.203(5), 455.213, 455.271(3), 475.619(2), 475.6147, 475.6235(7) FS. Law Implemented 455.213, 455.271(3), 455.275(2), 475.619(2), 475.6147, 475.6235(7) FS. History–New 9-3-13, Amended 12-17-18.