Section 36.315. Temporary authority to conduct business

(a) An appraisal management company that is not exempt from the law, which began offering appraisal management services in this Commonwealth before June 8, 2013, and has continued to offer appraisal management services in this Commonwealth since then without interruption, may continue to offer appraisal management services after June 8, 2013, without first being registered if:

(1) An application has been filed with the Board.

(2) The appropriate fees have been paid.

(3) The individual who signed the application in the capacity of the compliance person continues to act as compliance person until the application is approved, deemed withdrawn, provisionally denied or denied by final order.

(4) The application has not been:

(i) Deemed withdrawn.

(ii) Provisionally denied.

(iii) Denied by final order.

(iv) Approved.

(b) An appraisal management company that is not exempt from the law, which has not started offering appraisal management services in this Commonwealth by June 8, 2013, may not offer appraisal management services in this Commonwealth until registered.

(c) Authority to conduct business temporarily without registration under subsection (a) terminates on the date that an application has been:

(1) Deemed withdrawn.

(2) Provisionally denied.

(3) Denied by final order.

(4) Approved.

(d) For purposes of this section, an appraisal management company has continued to offer appraisal management services in this Commonwealth without interruption if it has made at least one appraisal assignment in each calendar month for real property in this Commonwealth and has maintained records required under this subchapter for each appraisal assignment made.

Notation

Cross References

This section cited in 49 Pa. Code § 36.305 (relating to expedited review).