(1) Each entity owning more than ten percent of an appraisal management company may not be directly controlled or owned in whole or in part by any person who has had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state.

(2) Each person that owns an appraisal management company in whole or in part must not have had a license or certificate to act as an appraiser refused, denied, canceled, or revoked in any state.

(3) Owners of more than ten percent of an appraisal management company must:

(a) Be of good moral character, as determined by the department; and

(b) Submit to a background investigation under RCW 18.310.070.

(4) Each appraisal management company must certify to the department that it has reviewed each and every individual or entity that owns the appraisal management company in whole or in part and that no such person or entity is prohibited from owning an appraisal management company under this section.

(5) A person under this section may appeal an adjudicative proceeding involving a final decision of the director to deny, suspend, or revoke a license under chapter 18.235 RCW.

Effective dates—2019 c 74: See note following RCW 18.310.040.