Nevada Administrative Code
Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies
APPRAISAL MANAGEMENT COMPANIES
Section 645C.381 - Application fees
Universal Citation: NV Admin Code 645C.381
Current through September 16, 2024
1. At the time an applicant submits an application for the issuance or renewal of a registration as an appraisal management company, the Division shall collect:
(a) For the issuance of an initial
registration, a fee of $2,500 and an additional fee of $100 for each branch
office of the applicant.
(b) For
the renewal of a registration, a fee of $500 and an additional fee of $100 for
each branch office of the applicant.
(c) The annual registry fee due to the
Appraisal Subcommittee of the Federal Financial Institutions Examination
Council pursuant to
12
U.S.C. §
3338 or any rules or
regulations adopted thereunder. The annual registry fee must only be collected
from an appraisal management company that oversees a network or panel of more
than 15 appraisers in a state, or 25 or more appraisers nationally within a
given year. The registry fee is:
(1) For an
appraisal management company that has been in existence for more than a year:
(I) Twenty-five dollars multiplied by the
number of appraisers working for or contracting with the appraisal management
company and who have performed an appraisal in connection with a covered
transaction in this State within a given year; or
(II) If the amount of the annual registry fee
set forth in sub-subparagraph (I) is adjusted by the Appraisal Subcommittee
pursuant to
12
U.S.C. §
3338, the amount of the
adjusted fee multiplied by the number of appraisers working for or contracting
with such appraisal management company who have performed an appraisal in
connection with a covered transaction in this State within a given
year.
(2) For an
appraisal management company that has been in existence for less than a year:
(I) Twenty-five dollars multiplied by the
number of appraisers working for or contracting with such appraisal management
company who have performed an appraisal in connection with a covered
transaction in this State since the commencement of the business; or
(II) If the amount of the annual registry fee
set forth in sub-subparagraph (I) is adjusted by the Appraisal Subcommittee
pursuant to
12
U.S.C. §
3338, the amount of the
adjusted fee multiplied by the number of appraisers working for or contracting
with the appraisal management company who have performed an appraisal in
connection with a covered transaction in this State since the commencement of
the business.
2. The registration fees prescribed by this section are nonrefundable.
Added to NAC by Comm'n of Appraisers of Real Estate by R091-09, eff. 4-20-2010; A by R176-18A, eff. 5/21/2020
NRS 645C.210, 645C.450, as amended by section 18 of Senate Bill No. 39, chapter 91, Statutes of Nevada 2019, at page 482 and NRS 645C.680, as amended by section 26 of Senate Bill No. 39, chapter 91, Statutes of Nevada 2019, at page 487
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