Sec.20-529e-3. Application and renewal procedure

(a) Appraisal management companies shall be registered with the Secretary of the State prior to submitting an application for registration with the department.

(b) An application for registration shall be submitted on a form prescribed by the department using the name or names of the legal entity under which it conducts or will conduct the business of appraisal management in Connecticut and in other states.

(c) An application for registration as an appraisal management company or any amendment thereto, shall be accompanied by the application fee prescribed in section 20-529(b) of the Connecticut General Statutes. Application fees accompanying complete applications are not refundable. The department may return to the applicant any application which is incomplete or not accompanied by the required fee. Applications shall be valid for one (1) year from the date of receipt by the department. The one-year period shall not be extended.

(d) Payment of application fees shall be made by certified check, bank check or money order payable to “Treasurer, State of Connecticut,” or via an electronic payment method acceptable to the department.

(e) Any payment found to be dishonored, to have insufficient funds or to be fraudulent shall be returned to the sender and the application associated with that payment shall be denied.

(f) An appraisal management company shall:

(1) Notify the department of any trade name, doing business as, or assumed business name under which it will operate in Connecticut at the time of registration, or if applicable, immediately upon operating under such trade name, doing business as, or assumed business name;

(2) Notify the department when it changes its registered name, trade name, doing business as, or assumed business name. Such notice shall be in writing and be received by the department not later than fourteen business days after making the change; and

(3) Notify the department of any change of contact information not later than fourteen days after making the change.

(g) The department may refuse to register or renew the registration of an appraisal management company that fails to comply with:

(1) Any provision of chapter 400g of the Connecticut General Statutes; or

(2) Any provision of sections 20-529e-1 through 20-529e-17, inclusive, of the Regulations of Connecticut State Agencies.

(Effective November 10, 2015)