Ownership of AMC applying for, holding, or renewing a

registration. A. An AMC applying for, holding, or renewing a registration under the Oklahoma Appraisal Management Company Regulation Act shall not be owned by: 1. A person who has held a credential issued by any appraiser- credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated; or 2. An entity that is owned by any person who has held a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated. B. Each person that owns an AMC applying for, holding, or renewing a registration under the Oklahoma Appraisal Management Company Regulation Act shall: 1. Be of good moral character, as determined by the Board; and 2. Submit to a background investigation, as determined by the Board. C. Each AMC applying for registration or for renewal of a registration under the Oklahoma Appraisal Management Company Regulation Act shall certify to the Oklahoma Real Estate Appraiser Board on a form prescribed by the Board that it has reviewed each entity that owns the AMC and that no entity has had a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, cancelled, suspended, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated.