36-21D-4. Promulgation of rules regarding companies and services.

The secretary of the Department of Labor and Regulation may promulgate rules pursuant to chapter 1-26 relating to appraisal management companies and appraisal management services in the following areas:

(1)    Registration of appraisal management companies;

(2)    Definition of terms;

(3)    Responsibilities and duties;

(4)    Application for and issuance of certificate of registration;

(5)    Renewal and late renewal procedures;

(6)    Contracting for investigations;

(7)    Complaints and grounds for disciplinary actions, including denial, revocation, suspension, censure, and reprimand;

(8)    Retention and inspection of records;

(9)    Roster;

(10)    Review of appraisal related records;

(11)    Inspection, examination, and photocopy of records;

(12)    National registry fee collection and remittance; and

(13)    Filing of surety bonds or irrevocable letters of credit.

Source: SL 2011, ch 184, § 4; SL 2014, ch 184, § 4; SL 2021, ch 168, § 36.