1. (a) The Commission shall establish an appraisal management company hearing board.

2. (b)

   1. (1) The hearing board consists of three members of the Commission, appointed by the Commission.

   2. (2) Of the three positions on the appraisal management company hearing board:

      1. (i) one shall be a representative of a financial institution;
      2. (ii) one shall be a consumer member; and
      3. (iii) one shall be a representative of an appraisal management company.
3. (c) From among the members of the hearing board, the Commission shall designate a chair.

Added by Acts 2011, c. 269, § 1, eff. July 1, 2011; Acts 2011, c. 270, § 1, eff. July 1, 2011.