Arizona § 32-3678 - Censure, suspension or revocation; civil penalty

§ 32-3678. Censure, suspension or revocation; civil penalty

The deputy director may censure an appraisal management company, conditionally or unconditionally suspend or revoke any registration issued under this article or impose civil penalties not to exceed $15,000 per violation if, in the opinion of the deputy director, an appraisal management company is attempting to perform, has performed or has attempted to perform any of the following acts:

1. Committing any act in violation of this article.

2. Violating any rule adopted by the deputy director in the interest of the public and consistent with this article.

3. Knowingly making or causing to be made to the deputy director any false representation of material fact.

4. Suppressing or withholding from the deputy director any information that the appraisal management company possesses and that, if submitted by the appraisal management company, would have rendered the appraisal management company ineligible to be registered pursuant to rules adopted by the deputy director.

5. Violating the federal financial institutions reform, recovery and enforcement act of 1989 (P.L. 101-73; 103 Stat. 183).