| (a) For purposes of this rule, the term "AMC" includes
each AMC registered with the Board under Chapter 1104, Occupations
Code, including AMCs with an active or inactive license status, and
each federally regulated AMC operating in this state.
(b) An AMC must provide information to the Board and
pay the required AMC Registry Fee on an annual basis.
(c) The Board will send notice to each AMC regarding
payment of AMC Registry Fees on or before November 1st of each calendar
year.
(d) On or after January 1st and before March 31st of
the calendar year following the issuance of notice under subsection
(c), each AMC must:
(1) Submit the information required to determine the
applicable AMC Registry Fee; and
(2) Pay the applicable AMC Registry Fee.
(e) The Board will transmit the information collected
from each AMC to the Appraisal Subcommittee for inclusion on the AMC
National Registry as required by federal law.
(f) Failure to receive notice from the Board regarding
annual payment of AMC Registry Fees does not relieve an AMC from submitting
the required information and paying the applicable AMC Registry Fee
in a timely manner as required in this section.
(g) Failure to submit the required information and
pay the applicable AMC Registry Fee in a timely manner as required
in this section is a violation of this rule that may result in one
or more of the following:
(1) Assessment of a late fee;
(2) Placement on inactive status; and
(3) Disciplinary action, up to and including license
revocation.
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