Administrative Code

Virginia Administrative Code
5/12/2021

Part IV. Renewal and Reinstatement

18VAC130-30-70. Renewal required.

A license issued under this chapter shall expire one year from the last day of the month in which it was issued. A fee shall be required for renewal.

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 35, Issue 19, eff. July 1, 2019.

18VAC130-30-80. Expiration and renewal.

A. Prior to the expiration date shown on the license, licenses shall be renewed upon (i) completion of the renewal application, (ii) submittal of proof of current bond or letter of credit as detailed in 18VAC130-30-30 H, and (iii) payment of the fees specified in 18VAC130-30-60.

B. The board will mail a renewal notice to the regulant at the last known mailing address of record. Failure to receive this notice shall not relieve the regulant of the obligation to renew. If the regulant fails to receive the renewal notice, a copy of the license may be submitted with the required fees as an application for renewal. By submitting an application for renewal, the regulant is certifying continued compliance with the standards of conduct and practice in Part V (18VAC130-30-120 et seq.) of this chapter.

C. Applicants for renewal shall continue to meet all of the qualifications for licensure set forth in Part II (18VAC130-30-20 et seq.) of this chapter.

Statutory Authority

§ 54.1-201 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 7, eff. February 1, 2015.

18VAC130-30-90. Reinstatement of appraisal management company license required.

A. If all of the requirements for renewal of a license as specified in 18VAC130-30-80 A are not completed within 30 days of the license expiration date, the regulant shall be required to reinstate the license by meeting all renewal requirements and by paying the reinstatement fee specified in 18VAC130-30-60.

B. A license may be reinstated for up to one year following the expiration date. After one year, the license may not be reinstated under any circumstances and the firm must meet all current entry requirements and apply as a new applicant.

C. Any regulated activity conducted subsequent to the license expiration date may constitute unlicensed activity and be subject to prosecution under Chapter 1 (§ 54.1-100 et seq.) of Title 54.1 of the Code of Virginia.

Statutory Authority

§ 54.1-201 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 7, eff. February 1, 2015.

18VAC130-30-100. Status of license during the period prior to reinstatement.

A regulant that applies for reinstatement of a license shall be subject to all laws and regulations as if the regulant had been continuously licensed. The regulant shall remain under and be subject to the disciplinary authority of the board during this entire period.

Statutory Authority

§ 54.1-201 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 7, eff. February 1, 2015.

18VAC130-30-110. Board discretion to deny renewal or reinstatement.

The board may deny renewal or reinstatement of a license for the same reasons as the board may refuse initial licensure or discipline a regulant.

The board may deny renewal or reinstatement of a license if the regulant has been subject to a disciplinary proceeding and has not met the terms of an agreement for licensure or other board order, has not satisfied all sanctions, or has not fully paid any monetary penalties and costs imposed by the board, plus any accrued interest.

Statutory Authority

§ 54.1-201 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 31, Issue 7, eff. February 1, 2015.

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