Kansas Statutes 58-4722. Denial of registration or renewal thereof; grounds
Terms Used In Kansas Statutes 58-4722
- 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
- Appraisal: A determination of property value.
- Appraisal: has the meaning specified in Kan. See Kansas Statutes 58-4703
- Appraiser: means an individual who holds a credential issued by the Kansas real estate appraisal board pursuant to the state certified and licensed real property appraiser act entitling that individual to perform an appraisal of real property in the state of Kansas consistent with the scope of practice for such credential. See Kansas Statutes 58-4703
- Board: means the Kansas real estate appraisal board. See Kansas Statutes 58-4703
- Continuance: Putting off of a hearing ot trial until a later time.
- Controlling person: means :
(1) An owner, officer, manager, or director of a corporation, partnership, firm, association, limited liability company, or other business entity seeking to offer appraisal management services in this state;
(2) an individual employed, appointed, or authorized by an AMC that has the authority to enter into a contractual relationship with other persons for the performance of appraisal management services and has the authority to enter into agreements with appraisers for the performance of appraisals; or
(3) an individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an AMC. See Kansas Statutes 58-4703
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
The board may deny the issuance of a registration or a renewal of a registration to an applicant for failure to comply with any requirement of this act, or any rule or regulation adopted pursuant thereto, or for any of the following acts or omissions:
(a) That the applicant, in the case of an application for renewal of a registration has, within 12 months preceding the date of the application, violated any provision of this act or any regulation adopted thereunder, or any provision of the state certified and licensed real property appraiser act or any regulation adopted thereunder;
(b) that the applicant is not of good moral character; or
(c) that the applicant has been the holder of a registration that:
(1) Was denied, revoked or suspended for cause; or
(2) (A) surrendered or nonrenewed in lieu of disciplinary proceedings and not subsequently granted or reinstated; or
(B) is otherwise not in good standing in any jurisdiction;
(d) when in the case of an application for renewal of a registration, the applicant has, in the conduct of affairs under the registration, demonstrated:
(1) Incompetency;
(2) untrustworthiness;
(3) conduct or practices rendering the registrant unfit to carry on appraisal management services;
(4) conduct or practices making continuance in the business detrimental to the public interest; or
(5) that the registrant is no longer in good faith carrying on appraisal management services, and for this conduct is found to be a source of detriment, injury or loss to the public; or
(e) that the applicant, the controlling person or any owner of an interest in the AMC of 10% or more has been convicted of a felony and has not been sufficiently rehabilitated to merit the public trust.