Arizona Administrative Code
Title 4 - PROFESSIONS AND OCCUPATIONS
Chapter 46 - DEPARTMENT OF INSURANCE AND FINANCIAL INSTITUTIONS DIVISION, REAL ESTATE APPRAISAL
Article 4 - APPRAISAL MANAGEMENT COMPANIES
Section R4-46-408 - Voluntarily Relinquishing Registration
Universal Citation: AZ Admin Code R 4-46-408
Current through Register Vol. 30, No. 38, September 20, 2024
A. The controlling person of a registered AMC may voluntarily relinquish the AMC's registration if:
1. No complaint is currently pending against
the AMC,
2. All amounts owed under
subsection
R4-46-402(C)
have been paid, and
3. The AMC is
in good standing with the Department.
B. To voluntarily relinquish an AMC's registration, the controlling person of the AMC shall enter into an agreement with the Director that provides the AMC shall:
1. Cease engaging in business as an AMC and
cease providing appraisal management services immediately, and
2. Maintain the surety bond required under
A.R.S. §
32-3667 for
one year after the agreement is entered.
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