(a) The board, on its own motion or upon receipt of a written complaint, may investigate an appraisal management company, a person or firm associated with an appraisal management company, or a person or firm performing appraisal management services.
(b) If the board determines after the investigation there are grounds for disciplinary action, the board may hold a hearing after giving 30 days" prior notice.
(c) The board has the same powers set out in §30-38-1 et seq. of this code.
(d) After notice and a hearing, the board may:
(1) Deny, revoke, or refuse to issue or renew the registration of an appraisal management company or restrict or limit the activities of an appraisal management company or of a person or firm that owns an interest in or participates in the business of an appraisal management company;
(2) Impose a fine not to exceed $25,000 for each violation; or
(3) Take other disciplinary action as established by the board by rule.
(e) The board may seek injunctive relief in the Kanawha County Circuit Court to prevent a person or firm from violating the provisions of this article or the rules promulgated hereunder. The circuit court may grant a temporary or permanent injunction.
(f) Within five days of a final disciplinary action, the board will report any action taken to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council via its extranet application.
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