Section R4-46-408. Voluntarily Relinquishing Registration

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 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 con- trolling person of the AMC shall enter into an agreement with the Superintendent that provides the AMC shall:

1.        Cease engaging in business as an AMC and cease provid- ing 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.

Historical Note

New Section made by final rulemaking at 21 A.A.R.

1675, effective October 6, 2015 (Supp. 15-3).