New Jersey § 45:14f-36

§ 45:14f-36.

a. An appraisal management company applying to the board for registration in this

State shall not: (1) in whole or in part, directly or indirectly, be owned by any person who has had

an appraiser license or certificate in this State or in any other state, refused,

denied, cancelled, surrendered in lieu of revocation, or revoked; (2) be subject to the ownership, control, direction, or authority of, or employ, appoint,

or otherwise retain, a controlling person who is not of good moral character, which

for purposes of this section shall require that such person has not been convicted

of, or entered a plea of nolo contendere to, a crime relating to the practice of appraisal

or any crime involving financial services, fraud, misrepresentation or moral turpitude. b. For purposes of paragraph (2) of subsection a. of this section, each controlling

person of an appraisal management company shall submit to a background investigation

to be carried out by the board, in accordance with standards as established by the

board by regulation. c. The background investigation authorized under subsection b. of this section shall

include but is not limited to a criminal history record information check conducted

in accordance with sections 3 and 4 of P.L.1997, c. 401 ( C.45:14F-10.1 and C.45:14F-10.2 ).