Sec. 55. Fees.

141 words·~1 min read·/il/chapter-225/act-459/55

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 55. Fees.

(a)The fees for the administration and enforcement of this Act, including, but not limited to, original registration fees, renewal fees, appraiser panel fees, appraiser management company national registry fees, and restoration fees, shall be set by the Department by rule. The fees shall not be refundable.

(b)All fees and other moneys collected under this Act shall be deposited in the Appraisal Administration Fund, except as provided in subsection

(d)of this Section.

(c)The Department shall establish by rule a process for calculating, collecting, and paying appraiser panel fees and, where applicable, appraiser management company national registry fees in a manner consistent with Title XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

(d)The administration fee charged by the multi-state licensing system shall be paid directly to the multi-state licensing system.