1. (a) Not later than June 30 of each year, a registered appraisal management company shall submit

   1. (1) an annual report on a form provided by the department; and
   2. (2) the registry fee required under 12 AAC 02.370(b)(5) for each appraiser on the appraiser panel who performed appraisals for covered transactions in the state during the preceding calendar year.

2. (b) Not later than June 30 of each year, a federally regulated appraisal management company shall submit

   1. (1) information required by AS 08.87.155 to the board on a form provided by the department; and
   2. (2) the registry fee required under 12 AAC 02.370(b)(5) for each appraiser on the appraiser panel who performed appraisals for covered transactions in the state during the preceding calendar year.
3. (c) An appraisal management company that fails to submit the required form and corresponding fee by the designated reporting date in (a) and (b) of this section will be recorded as inactive on the appraisal management company registry and may be subject to disciplinary proceedings under AS 08.87.215 and 08.87.220.

(Eff. 3/28/2019, Register 229; am 4/8/2021, Register 238)

Authority: AS 08.87.020, AS 08.07.130, AS 08.87.135, AS 08.87.155