Ariz. Admin. Code § 4-46-408

Current through Register Vol. 30, No. 50, December 13, 2024

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 subsection 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 controlling person of the AMC shall enter into an agreement with the Director that provides the AMC shall:

1. Cease engaging in business as an AMC and cease providing 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.

Ariz. Admin. Code § R4-46-408

Adopted by Final rulemaking at 21 A.A.R. 1675, effective 10/6/2015. Amended by final rulemaking at 25 A.A.R. 1139, effective 6/10/2019. Amended by final rulemaking at 28 A.A.R. 893, effective 6/11/2022.