Section 20-529e-13 - Fees(a) Application fees shall be paid in the manner and amounts specified in section 20-529 of the Connecticut General Statutes.(b) The commission shall require an annual registry fee for all appraisal management companies in an amount established by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council pursuant to Title XI of FIRREA. The Commissioner of Consumer Protection shall compile and transmit a roster of such appraisal management companies, along with the registry fees paid, to the appropriate federal regulatory entity-Said commissioner shall report each appraisal management company that meets the following criteria to the appropriate federal regulatory entity and each such company shall pay applicable fees to such entity: (1) An appraisal management company that provides services in connection with valuing a consumer's principal residence as security for consumer credit transactions or incorporating such transactions into securitizations;(2) An appraisal management company that, within a given year, oversees an appraisal panel of more than fifteen (15) appraisers certified by the state of Connecticut, or twenty-five (25) or more appraisers certified in two (2) or more states.(c) An appraisal management company that is a department or division of an entity that provides appraisal management services only to such entity or an entity that is a subsidiary of any federally regulated financial institution shall not be subject to the reporting requirement of this section.Conn. Agencies Regs. § 20-529e-13
Effective November 10, 2015; amended 8/3/2020