Kansas Statutes 58-4715. Unlawful acts related to registration requirements
Terms Used In Kansas Statutes 58-4715
- AMC: means an individual, firm, partnership, association, corporation, limited liability company or any other business entity acting as an external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets:
(1) That performs appraisal management services, regardless of the use of any of the following terms: Appraisal management company, mortgage technology provider, mortgage services provider, lender processing services provider, loan processor, real estate closing services provider, vendor management company or any other like term; and
(2) such entity oversees an appraiser panel of:
(A) More than 15 appraisers who are certified or licensed in Kansas; or
(B) a total of more than 25 appraisers who are certified or licensed in Kansas and in any other jurisdiction. See Kansas Statutes 58-4703
- Board: means the Kansas real estate appraisal board. See Kansas Statutes 58-4703
- Person: means an individual, firm, partnership, association, corporation, or any other entity. See Kansas Statutes 58-4703
Except as provided by Kan. Stat. Ann. 2023 Supp. 58-4705, and amendments thereto, it shall be unlawful for any person to do any of the following without first obtaining a registration issued by the board pursuant to Kan. Stat. Ann. 2023 Supp. 58-4704, and amendments thereto:
(a) Directly or indirectly engage or attempt to engage in business as an AMC;
(b) directly or indirectly perform or attempt to perform appraisal management services as an AMC; or
(c) advertise or hold such person out as engaging in or conducting business as an AMC.