58-4705. Exemptions from registration.

135 words·~1 min read·/ks/chapter-58/58-4705

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

(a)The registration provisions of this act shall not apply to an AMC that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institutions regulatory agency.

(b)The provisions of this act shall not apply to:

(1)A person as defined in K.S.A. 58-4703 , and amendments thereto, who exclusively employs appraisers on an employer and employee basis for the performance of appraisals; or

(2)an individual or individuals who are state-certified or state-licensed appraisers in good standing credentialed by the board and who are actively engaged in the practice of real estate appraising and, as a function of the practice, maintain a list of not more than 15 employees who are credentialed appraisers in good standing or independent contractor credentialed appraisers in good standing.