Statutes, codes, and regulations
Florida Administrative Code
Department 61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONDivision 61J1 - Florida Real Estate Appraisal Board
Chapter 61J1-2 - REGISTRATION DETAILS AND FEE STRUCTURE
Section 61J1-2.0025 - Appraisal Management Company Annual Report

Fla. Admin. Code R. 61J1-2.0025

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Current through Reg. 50, No. 187; September 24, 2024
Section 61J1-2.0025 - Appraisal Management Company Annual Report
(1) The purpose of the Annual Report is to calculate and collect, if appropriate, the Appraisal Management Company National Registry fee. The fee calculation is found in subsection 61J1-2.001(8), F.A.C. An annual report must be submitted even if no fee is due.
(2) In accordance with the provisions contained in 12 U.S.C. 3338, on an annual basis, each authorized representative or controlling person of an Appraisal Management Company (AMC) registered with the State shall submit an Annual Report to the Department on DBPR form FREAB 5 Appraisal Management Company - Annual Report (effective 12/2022), hereby adopted and incorporated by reference, which can be obtained from http://www.flrules.org/Gateway/reference.asp?No=Ref-15206 or http://www.myfloridalicense.com/dbpr/re/documents/FREAB5.pdf.
(3) The Annual Report shall include:
(a) identifying information for the AMC;
(b) the number of appraisers who have performed an appraisal for the AMC in connection with a covered transaction in the State during the previous year, or from the commencement of business for AMCs not in existence for the entire previous year.
(4) The annual basis shall be the period from October 1 to September 30 of each calendar year.
(5) Beginning in November 2019, the Annual Report and AMC National Registry fee shall be due by November 30 of each calendar year.
(6) A registered AMC who does not timely submit an Annual Report and/or the AMC National Registry Fees:
(a) Shall not appear on the AMC National Registry.
(b) Shall be subject to disciplinary action.

Fla. Admin. Code Ann. R. 61J1-2.0025

Rulemaking Authority 475.614, 475.621, 475.6235 FS. Law Implemented 475.621, 475.6235 FS.

Adopted by Florida Register Volume 45, Number 201, October 15, 2019 effective 10/29/2019, Amended by Florida Register Volume 49, Number 040, February 28, 2023 effective 3/12/2023.

New 10-29-19, Amended 3-12-23.