Or. Admin. Code § 161-560-0010 - Audits Required
(1) An
audit of an appraisal management company registered to provide appraisal
management services in Oregon may be conducted by the Board.
(2) In the case of a subsidiary or affiliate
of a financial institution engaging in business as an appraisal management
company without obtaining a registration to provide appraisal management
services in Oregon, the Board may conduct an audit of the appraisal management
company in a joint or alternating manner with the appropriate federal banking
agency or the Bureau of Consumer Financial Protection as permitted or required
by applicable law.
(3) The Board
may audit an appraisal management company at any time or times and may require
the production of such records at the office of the Board as often as is
necessary.
(4) An appraisal
management company that refuses to submit to an audit shall be considered to
have failed the audit.
Notes
Stat. Auth.: ORS 183.355, ORS 674.305(7), ORS 674.310 & 2011 OL Ch. 447
Stats. Implemented: ORS 674.310 & 2011 OL Ch. 447
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