Section 1452.20  Application for Registration

a)         An applicant for registration as an appraisal management company shall, in accordance with Sections 35 and 40 of the Act, file an application with the Division, in a manner provided by the Division, on which all questions have been answered, together with the following:

1)         Business entity name, address, telephone number, e-mail address and other information required by the Division for the principal office in Illinois where services are provided. A post office box by itself is not acceptable;

2)         If the business entity does not maintain a principal office in Illinois, the address, telephone number, e-mail address and other information required by the Division for the out-of-state office responsible for its Illinois operations (a post office box by itself is not acceptable), and the name of the agent for service of process;

3)         A Federal Employer Identification Number (FEIN);

4)         The legal form of the business entity.

A)        If a sole proprietorship, the name of the sole proprietor;

B)        If a partnership, a list of all partners, and an affidavit stating that the partnership has been legally formed, a letter of authority from the Illinois Secretary of State, or if foreign, a copy of the application for admission or authority to transact business in Illinois;

C)        If a corporation organized in Illinois,

i)          A copy of the Articles of Incorporation;

ii)         Proof of Good Standing

•           A certificate of good standing issued by the Illinois Secretary of State or obtained from the Illinois Secretary of State's website within the previous 60 days; or

•           If the corporation is a foreign corporation, a copy of the Articles of Incorporation and proof of good standing issued by the state in which the corporation is domiciled, and a certificate of authority to transact business in Illinois; and

iii)        A list of all persons or business entities and their contact information and Illinois appraisal license numbers, if applicable, that hold an ownership interest of 10% or more in the company;

D)        If a limited liability company,

i)          A copy of the Articles of Organization;

ii)         Proof of Good Standing

•           A certificate of good standing issued by the Illinois Secretary of State or obtained from the Illinois Secretary of State's website within the previous 60 days; or

•           If the company is foreign corporation, proof of good standing issued by the state in which it is domiciled, and a certificate of authority to transact business in Illinois; and

iii)        A list of the members of the limited liability company and their contact information and Illinois appraisal license numbers, if applicable, that hold an ownership interest of 10% or more in the company;

E)        If an assumed name is to be used, a certified copy of the assumed name certificate pursuant to the Assumed Business Name Act [805 ILCS 405] is required;

F)         If another type of business entity, the same or similar information, as applicable, to that listed in this subsection.

5)         The name, address, and contact information for any business entity applicant that owns 10% or more of the appraisal management company and answers to questions concerning each such individual's history of convictions for criminal offenses, denial or discipline of professional licenses pursuant to Section 67 of the Act.

6)         Any business entity that owns 10% or more of the appraisal management company shall report to the Division within 30 calendar days after any change related to criminal offenses or professional licensure status in any jurisdiction pursuant to Section 67 of the Act.

7)         The name, address, telephone number, and e-mail address of the business entity's designated controlling person and answers to questions concerning that person's history of convictions for criminal offenses, denial or discipline of professional licenses, discharge from military or government service, and delinquency on any state taxes or child support payments;

8)         A signed irrevocable Uniform Consent to Service of Process form provided by the Division;

9)         A list of any other states where the business entity is registered, along with registration numbers;

10)       The certifications required under Section 40 of the Act;

11)       The bond required under Section 50 of the Act and this Part; and

12)       The required fee specified in Section 1452.200.

b)         The application shall be signed and dated by the designated controlling person.

(Source:  Amended at 50 Ill. Reg. 686, effective January 5, 2026)