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Virginia Administrative Code
Title 18. Professional And Occupational Licensing
Agency 130. Real Estate Appraiser Board
Chapter 30. Appraisal Management Company Regulations
2/4/2026

18VAC130-30-140. Change of business entity requires a new license.

A. Licenses are issued to firms as defined in this chapter and are not transferable. Whenever the legal business entity holding the license is dissolved or altered to form a new business entity, the license becomes void. The firm must make written notification to the board within 30 days of the change. Such changes include:

1. Cessation of the business or the voluntary termination of a sole proprietorship or general partnership;

2. Death of a sole proprietor;

3. Formation, reformation, or dissolution of a general partnership, limited partnership, corporation, limited liability company, association, or any other business entity recognized under the laws of the Commonwealth; or

4. The suspension or termination of the corporation's existence by the State Corporation Commission.

B. When a new firm is formed, the new firm must obtain a new license before engaging in any activity regulated by Chapter 20.2 (§ 54.1-2020 et seq.) of Title 54.1 of the Code of Virginia or the regulations of the board.

Statutory Authority

§ 54.1-201 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 7, eff. February 1, 2015; amended, Virginia Register Volume 42, Issue 9, eff. January 14, 2026.

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