Form AMC-622-194 Appraisal Management Company Designated Controlling Person Registration - Washington

What Is Form AMC-622-194?

This is a legal form that was released by the Washington State Department of Licensing - a government authority operating within Washington. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form AMC-622-194?A: Form AMC-622-194 is the Appraisal Management Company Designated Controlling Person Registration form specific to the state of Washington.

Q: What is an Appraisal Management Company (AMC)?A: An Appraisal Management Company (AMC) is a business entity that administers a network of licensed and certified appraisers to perform real estate appraisal services.

Q: Who is a Designated Controlling Person?A: A Designated Controlling Person is an individual who has the authority to make managerial decisions and oversee the operations of an Appraisal Management Company.

Q: Why is registration of a Designated Controlling Person required?A: Registration of a Designated Controlling Person is required by the state of Washington to ensure accountability and compliance with regulations for Appraisal Management Companies.

Q: What are the consequences of not registering a Designated Controlling Person?A: Failure to register a Designated Controlling Person for an Appraisal Management Company in Washington may result in penalties, fines, or other legal consequences.

Q: Are there any exemptions from registering a Designated Controlling Person?A: The state of Washington may provide certain exemptions from the requirement of registering a Designated Controlling Person for specific circumstances or entities. It is advisable to consult the relevant regulations or licensing authorities for more information.

Q: Can a Designated Controlling Person be changed or updated?A: Yes, a Designated Controlling Person for an Appraisal Management Company can be changed or updated. The necessary forms and procedures must be followed to notify the licensing authorities and update the company's registration information.

Q: Are there any renewal requirements for the registration of a Designated Controlling Person?A: The registration of a Designated Controlling Person for an Appraisal Management Company in Washington may require periodic renewal, which involves submitting updated information and paying renewal fees. It is important to comply with the state's renewal requirements to maintain an active registration status.