TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1452 APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT
SECTION 1452.70 CHANGE OF OWNERSHIP


 

Section 1452.70  Change of Ownership

 

a)         No later than 30 calendar days after the effective date of a change of ownership of an appraisal management company registered under the Act, a new application shall be filed with the Division in accordance with Section 1452.20.

 

b)         Change of ownership is defined as, but not limited to:

 

1)         When an unaffiliated person, partnership, corporation, limited liability company or other legal entity comes to obtain 51% ownership or ownership interest of the appraisal management company after initial registration; or

 

2)         Change in the legal form under which the controlling entity is organized.