Section 1255-08-.07 - ADMINISTRATIVE PENALTIES(1) With respect to any registrant, the Commission may in addition to or in lieu of any other lawful disciplinary action, assess an administrative penalty against such registrant for each separate violation of a statute, rule or order pertaining to the Commission in accordance with the following schedule: Violation | Penalty |
(a) T.C.A. § 62-39-411....................... | $50 - $1,000 |
(b) T.C.A. § 62-39-412...................... | $50 - $1,000 |
(c) T.C.A. § 62-39-413...................... | $50 - $1,000 |
(d) T.C.A. § 62-39-414...................... | $50 - $1,000 |
(e) T.C.A. § 62-39-415...................... | $50 - $1,000 |
(f) T.C.A. § 62-39-416...................... | $50 - $1,000 |
(g) T.C.A. § 62-39-417....................... | $50 - $1,000 |
(h) T.C.A. § 62-39-418...................... | $50 - $1,000 |
(i) T.C.A. § 62-39-419...................... | $50 - $1,000 |
(j) T.C.A. § 62-39-420...................... | $50 - $1,000 |
(k) T.C.A. § 62-39-421...................... | $50 - $1,000 |
(l) T.C.A. § 62-39-422...................... | $50 - $1,000 |
(m) T.C.A. § 62-39-424...................... | $50 - $1,000 |
(n) T.C.A. § 62-39-425...................... | $50 - $1,000 |
(o) T.C.A. § 62-39-427...... | .$50 - $1,000 |
(p) Rule 1255-08-.01......................... | $50 - $1,000 |
(q) Commission Order ....................... | $50 - $1,000 |
(2) With respect to any person or entity required to be registered in this state as an Appraisal Management Company (regardless of whether the person or entity is actually licensed or certified), the Commission may assess an administrative penalty against such person or entity for each separate violation of a statute in accordance with the following schedule: Violation | Penalty |
(a) T.C.A. § 62-39-403.................... | $100 - $1,000 |
(3) Each day of continued violation may constitute a separate violation.(4) In determining the amount of administrative penalty to be assessed pursuant to this rule, the Commission may consider such factors as the following:(a) Whether the amount imposed will be substantial economic deterrent to the violation;(b) The circumstances leading to the violation;(c) The severity of the violation and the risk of harm to the public;(d) The economic benefits gained by the violator as a result of noncompliance; and(e) The interest of the public.Tenn. Comp. R. & Regs. 1255-08-.07
Original rule filed May 24, 2011; effective August 22, 2011. Amendments filed March 21, 2018; effective 6/19/2018.Authority: T.C.A. §§ 56-1-308, 62-39-411, 62-39-412, 62-39-413, 62-39-418, 62-39-419, 62-39-420, 62-39-421, 62-39-422, 62-39-424, and 62-39-425.