1. (a) Upon the verified complaint, in writing, of any person concerning a violation by an appraisal management company, other than a federally regulated appraisal management company, of the provisions of sections 20-529 to 20-529c, inclusive, the Department of Consumer Protection may investigate such company. Upon a determination by the commissioner that an appraisal management company has made any materially false, fictitious or fraudulent statement or violated any provision of sections 20-529 to 20-529c, inclusive, the commissioner may deny, refuse to renew, suspend or revoke a certificate of registration issued in accordance with section 20-529 and may impose a civil penalty of not more than twenty-five thousand dollars.
2. (b) Before denying, refusing to renew, suspending or revoking a certificate of registration or imposing any civil penalty, the commissioner shall give notice and afford an opportunity for hearing in accordance with chapter 54.
3. (c) Any person aggrieved by any decision or order of the commissioner under this section may appeal therefrom in accordance with section 4-183.

(P.A. 10-77, S. 6; P.A. 24-142, S. 11.)

History: P.A. 24-142 amended Subsec. (a) by adding exemption re federally regulated appraisal management companies, effective June 6, 2024.