{"data":{"id":"us-ky/krs-324a.162","jurisdiction":"us-ky","citation":"KRS 324A.162","heading":"Disciplinary action -- Injunctive relief.","body":"(1) The board may deny, suspend, revoke, or refuse to issue or renew the registration of\nan appraisal management company, or may restrict or limit the activities of an\nappraisal management company or of a person who owns an interest in or\nparticipates in the business of an appraisal management company if the board finds\nthat any of the following circumstances apply to the applicant, a registrant, a person\nowning ten percent (10%) or more of the applicant or registrant, a partner, member,\nmanager, officer, direc tor, managing principal, controlling person, a person\noccupying a similar status or performing similar functions, or a person directly or\nindirectly controlling the applicant or registrant:\n(a) The application for registration contained a statement that in  light of the\ncircumstances under which it was made is false or misleading with respect to\na material fact;\n(b) The person has violated or failed to comply with KRS 324A.152, 324A.154,\n324A.156, or 324A.158 or failed to comply with administrative regulatio ns\npromulgated by the board for the implementation and enforcement of KRS\n324A.150 to 324A.164;\n(c) The person has pled guilty or nolo contendere to, or has been found guilty of,\na felony or, within the past ten (10) years, a misdemeanor involving mortgage\nlending or real property appraising or an offense involving a breach of trust or\nfraudulent or dishonest dealing;\n(d) The person is permanently or temporarily enjoined by a court of competent\njurisdiction from engaging in or continuing any conduct or prac tice involving\nappraisal management services or operating an appraisal management\ncompany;\n(e) The person is the subject of an order of the board or any other state's appraisal\nmanagement company regulatory agency denying, suspending, or revoking\nthe person's privilege to operate as an appraisal management company;\n(f) The person acted as an appraisal management company while not properly\nregistered by the board; or\n(g) The person failed to pay the proper filing or renewal fee as provided under\nKRS 324A.152 and 324A.154.\n(2) Upon its own motion or the written complaint of a person reporting a violation of\nsubsection (1) of this section, and after notice and the opportunity for a hearing in\naccordance with KRS Chapter 13B, the board may:\n(a) Suspend or revoke the registration of a registrant;\n(b) Impose a fine not to exceed five thousand dollars ($5,000) per violation; or\n(c) Take other appropriate disciplinary actions as established by the board\nthrough promulgation of administrative regulations.\n(3) The board may appear in its own name in Franklin Circuit Court, or the Circuit\nCourt of the county where the alleged violation o ccurred, to obtain injunctive relief\nto prevent a person from violating this section or KRS 324A.154, 324A.156, or\n324A.158. The Circuit Court may grant a temporary or permanent injunction\nregardless of whether:\n(a) Criminal prosecution has been or may be instituted as a result of the violation;\nor\n(b) The person is the holder of a registration issued by the board.","path":["KRS Chapter 324A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58046","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:20Z","sha256":"733a67d4ce572b1c8e21e38a06e14e1e2d1893cba6a822ca2e6750111b3f7fbe","source_id":"us-ky","stale":false,"prev":"us-ky/krs-324a.160","next":"us-ky/krs-324a.163"},"notice":"GroundRules: Original legal text. Not legal advice."}