R162-2e-205. Division Service Fees -- AMC Registry Fee

  (1) The division shall collect and transmit to the Appraisal Subcommittee an AMC registry fee from:

  (a) an AMC registered under the Appraisal Management Company Registration and Regulation Act; or

  (b) an AMC that operates as a subsidiary of a federally regulated financial institution.

  (2) The amount of the AMC registry fee shall be as follows:

  (a) for an AMC that has been in existence for more than one year, the amount collected shall be the established AMC registry fee multiplied by the number of appraisers who have performed an appraisal in connection with a covered transaction for the AMC in Utah during the previous year; and

  (b) for an AMC that has not been in existence for more than one year, the amount collected shall be the established AMC registry fee multiplied by the number of appraisers who have performed an appraisal in connection with a covered transaction for the AMC in Utah since the AMC commenced doing business.