30 Miss. Code. R. 1502-4.1 - Requirements for the National Registry

1. On or after June 1, 2020, the Board will implement its program pursuant to authority of Miss. Code Ann. § 73-34-45(3) for collection and submission of the information required by the ASC to maintain the AMC Registry of Appraisal Management Companies (AMCs) that are required to be registered with the State of Mississippi.

(a) The Board will transmit to the ASC reports on a timely basis of supervisory activities involving AMCs registered to conduct business in Mississippi, including reports of investigations resulting in disciplinary actions taken.

(i) All disciplinary actions imposed by the Board upon an AMC registered in this state will be reported to the National Registry maintained within five (5) business days after the disciplinary action has become final pursuant to applicable Mississippi law.

(ii) Any disciplinary action that interrupts the ability of an AMC to provide appraisal management services pursuant to state or federal law or regulation will result in the immediate status change to "inactive" on the National Registry.

(iii) The Board will report to the ASC as soon as practicable following receipt of notice that an AMC is no longer registered with or conducting business in Mississippi.

(b) The Board will collect and transmit to the ASC the AMC National Registry fee as may be set by the ASC for each AMC registered to conduct business in Mississippi.

Notes

30 Miss. Code. R. 1502-4.1

Adopted 1/10/2020