TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING

REAL ESTATE APPRAISER BOARD

Proposed Regulation

Title of Regulation: 18VAC130-30. Appraisal Management Company Regulations (amending 18VAC130-30-10, 18VAC130-30-20, 18VAC130-30-30, 18VAC130-30-50 through 18VAC130-30-100, 18VAC130-30-120 through 18VAC130-30-150, 18VAC130-30-170).

Statutory Authority: §§ 54.1-201 and 54.1-2013 of the Code of Virginia.

Public Hearing Information:

June 10, 2025 - 10 a.m. - Department of Professional and Occupational Regulation, Perimeter Center, Second Floor Conference Center, Board Room Two, 9960 Mayland Drive, Richmond, VA 23233.

Public Comment Deadline: August 1, 2025.

Agency Contact: Anika Coleman, Executive Director, Real Estate Appraiser Board, 9960 Mayland Drive, Suite 400, Richmond, VA 23233, telephone (804) 367-8552, FAX (866) 826-8863, or email reappraisers@dpor.virginia.gov.

Basis: Section 54.1-201 of the Code of Virginia authorizes the Real Estate Appraiser Board to promulgate regulations necessary to ensure continued competency and prevent deceptive or misleading practices by practitioners and to effectively administer the regulatory system. Section 54.1-2013 of the Code of Virginia requires the board to promulgate regulations that satisfy any minimum criteria that are necessary for the federal financial institution's regulatory agencies to recognize and accept licenses for licensed residential real estate appraisers, certified residential real estate appraisers, certified general real estate appraisers, and appraisal management companies issued by the board.

Purpose: The board is responsible for regulating appraisal management companies (AMCs) who (i) provide appraisal management services to creditors or to secondary mortgage market participants, including affiliates; (ii) provide such services in connection with valuing a consumer's principal dwelling as security for a consumer credit transaction or incorporating such transactions into securitizations; and (iii) within a 12-month calendar year, oversee an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state or 25 or more state-certified or state-licensed appraisers in two or more states. The board protects the public welfare, in part, by establishing through regulation the minimum qualifications of applicants for certification or licensure in real estate appraisal and the minimum standards to ensure continued competency and to prevent deceptive or misleading practices by practitioners.

Substance: The proposed amendments (i) revise and add definitions; (ii) remove redundant and unnecessary language, including provisions regarding incomplete applications, the mailing of documents during license renewal, entry requirements for initial licensure, and a requirement that checks and money orders for fees be made payable to the Treasurer of Virginia; (iii) revise provisions regarding notification of incomplete applications and applicant disclosure of business names and addresses; (iv) reduce the stringency of requirements for disclosure of misdemeanor criminal convictions; (v) remove a requirement that an applicant be "in good standing" in all jurisdictions; (vi) require an applicant to disclose any action taken against a professional or occupational license issued to the applicant and any individuals associated with firm; and (vii) clarify that a licensee that reinstates its license will be regarding as continuously licensed without interruption and will be subject to the authority of the board for activities performed prior to reinstatement.

Issues: The primary advantages to the public and regulated community are providing clarification to provisions, ensuring the regulation complements Virginia law and reflects current agency procedures, and reducing regulatory burdens by removing requirements that are not necessary to protect the health, safety, or welfare of the public or to effectively administer the program. There are no identifiable disadvantages to the public or the Commonwealth. It is not anticipated that the proposed changes will create any substantial disadvantages to the regulated community.

Department of Planning and Budget Economic Impact Analysis:

The Department of Planning and Budget (DPB) has analyzed the economic impact of this proposed regulation in accordance with § 2.2-4007.04 of the Code of Virginia and Executive Order 19. The analysis presented represents DPB's best estimate of the potential economic impacts as of the date of this analysis.¹

Summary of the Proposed Amendments to Regulation. The Real Estate Appraiser Board (board) proposes to make misdemeanor conviction disclosures less stringent and make numerous other changes to remove requirements in the regulation that are: not necessary to protect the public welfare or effectively administer the program; duplicative of other regulations; obsolete; or are needed to conform to existing agency practices and statutory changes.

Background. This regulation applies to real estate appraisal management companies. These companies contract with independent appraisers to serve the company's customers. Pursuant to Executive Directive Number One (2022),² the board proposes to reduce regulatory requirements.

Estimated Benefits and Costs. The only substantive proposed change in this action is to make misdemeanor conviction disclosures less stringent. Currently, any firm that applies for licensure as an appraisal management company must disclose misdemeanor information for (i) any person who own 10% or more of the firm and (ii) the controlling person of the firm. The proposal would limit the scope of misdemeanor convictions that must be disclosed about these individuals to those involving moral turpitude, sexual offense, non-marijuana drug distribution, or physical injury in the past five years. Currently, a firm that applies for licensure must disclose all misdemeanor convictions of these individuals (except marijuana convictions) in the past five years. The use of less stringent disclosure requirements may encourage individuals to be part of an appraisal management company who may have previously been discouraged from doing so because of a misdemeanor conviction. Once such convictions are disclosed, the board determines if the conviction would merit a disqualification for licensure. In that sense, the narrowed range of offenses requiring disclosure may lead to reduced administrative costs for the agency by limiting the convictions that need to be evaluated and may also result in fewer disqualifications. The remaining changes are housekeeping changes that would remove language that the board has determined are not necessary to protect the public welfare or effectively administer the program; duplicative of other regulations; obsolete; or as needed to conform to agency practices and statutory changes.

Businesses and Other Entities Affected. The proposed changes would affect all Virginia licensed appraisal management companies and those that might seek to obtain a license from the board. According to the Department of Professional and Occupational Regulation (DPOR), as of February 1, 2025, there were 108 licensed appraisal management companies. No company appears to be disproportionately affected. The Code of Virginia requires DPB to assess whether an adverse impact may result from the proposed regulation.³ An adverse impact is indicated if there is any increase in net cost or reduction in net benefit for any entity, even if the benefits exceed the costs for all entities combined.⁴ As noted above, the proposal neither increases costs nor reduces benefits for regulated companies. Thus, an adverse impact is not indicated.

Small Businesses⁵ Affected.⁶ DPOR states that some licensed appraisal management companies are likely business entities that meet the definition of small business in § 2.2-4007.1 of the Code of Virginia. However, the proposed amendments do not adversely affect any entity including small businesses.

Localities⁷ Affected.⁸ No costs for localities are expected nor would any locality be particularly affected.

Projected Impact on Employment. The proposed amendments do not appear to directly impact total employment.

Effects on the Use and Value of Private Property. No effects on the use and value of private property nor on real estate development costs are expected.

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¹ Section 2.2-4007.04 of the Code of Virginia requires that such economic impact analyses determine the public benefits and costs of the proposed amendments. Further the analysis should include but not be limited to: (1) the projected number of businesses or other entities to whom the proposed regulatory action would apply, (2) the identity of any localities and types of businesses or other entities particularly affected, (3) the projected number of persons and employment positions to be affected, (4) the projected costs to affected businesses or entities to implement or comply with the regulation, and (5) the impact on the use and value of private property.

² See https://www.governor.virginia.gov/media/governorvirginiagov/governor-of-virginia/pdf/ed/ED-1-Regulatory-Reduction.pdf.

³ Pursuant to § 2.2-4007.04 D: In the event this economic impact analysis reveals that the proposed regulation would have an adverse economic impact on businesses or would impose a significant adverse economic impact on a locality, business, or entity particularly affected, the Department of Planning and Budget shall advise the Joint Commission on Administrative Rules, the House Committee on Appropriations, and the Senate Committee on Finance. Statute does not define "adverse impact," state whether only Virginia entities should be considered, nor indicate whether an adverse impact results from regulatory requirements mandated by legislation.

⁴ Statute does not define "adverse impact," state whether only Virginia entities should be considered, nor indicate whether an adverse impact results from regulatory requirements mandated by legislation. As a result, DPB has adopted a definition of adverse impact that assesses changes in net costs and benefits for each affected Virginia entity that directly results from discretionary changes to the regulation.

⁵ Pursuant to § 2.2-4007.04, small business is defined as "a business entity, including its affiliates, that (i) is independently owned and operated and (ii) employs fewer than 500 full-time employees or has gross annual sales of less than $6 million."

⁶ If the proposed regulatory action may have an adverse effect on small businesses, § 2.2-4007.04 requires that such economic impact analyses include: (1) an identification and estimate of the number of small businesses subject to the proposed regulation, (2) the projected reporting, recordkeeping, and other administrative costs required for small businesses to comply with the proposed regulation, including the type of professional skills necessary for preparing required reports and other documents, (3) a statement of the probable effect of the proposed regulation on affected small businesses, and (4) a description of any less intrusive or less costly alternative methods of achieving the purpose of the proposed regulation. Additionally, pursuant to § 2.2-4007.1 of the Code of Virginia, if there is a finding that a proposed regulation may have an adverse impact on small business, the Joint Commission on Administrative Rules shall be notified.

⁷ "Locality" can refer to either local governments or the locations in the Commonwealth where the activities relevant to the regulatory change are most likely to occur.

⁸ Section 2.2-4007.04 defines "particularly affected" as bearing disproportionate material impact.

Agency Response to Economic Impact Analysis: The Real Estate Appraiser Board concurs with the Department of Planning and Budget's economic impact analysis.

Summary:

The proposed amendments revise (i) definitions; (ii) requirements for application procedures; (iii) requirements for license qualifications of appraisal management companies; (iv) provisions regarding fees; (v) provisions regarding expiration and renewal of licenses; and (vi) standards of conduct and practice.

18VAC130-30-10. Definitions.

A. Section 54.1-2020 of the Code of Virginia provides definitions of the following terms and phrases as used in this chapter:

"Appraisal management company"

"Appraisal management services"

"Appraisal services"

"Appraiser"

"Appraiser panel"

"Board"

"Employee"

"Uniform Standards of Professional Appraisal Practice"

B. The following words and phrases when used in this chapter shall have the following meanings unless the context clearly indicates otherwise:

"Address of record" means the mailing address designated by the regulant to receive notices and correspondence from the board. Notice mailed to the address of record by certified mail, return receipt requested, shall be deemed valid notice.

"Applicant" means an appraisal management company that has submitted an application for licensure.

"Application" means a completed, board-prescribed form submitted with the appropriate fee and other required documentation.

"Controlling person" means (i) an owner, officer, or director of a corporation or a partnership or a managing member of a limited liability company or other business entity seeking to offer appraisal management services; (ii) an individual employed, appointed, or authorized by an appraisal management company who has the authority to enter into a contractual relationship with other persons for the performance of appraisal management services and has the authority to enter into agreements with appraisers for the performance of appraisals; or (iii) an individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company.

"Department" means the Virginia Department of Professional and Occupational Regulation.

"Direct supervision" means exercising oversight and direction of, and control over, the work of another.

"Firm" means a sole proprietorship, association, partnership, corporation, limited liability company, limited liability partnership, or any other form of business organization recognized under the laws of the Commonwealth of Virginia and properly registered, as may be required, with the Virginia State Corporation Commission.

"Person" means a corporation, partnership, sole proprietorship, firm, enterprise, franchise, association, or any other individual or entity.

"Regulant" means an appraisal management company as defined in § 54.1-2020 of the Code of Virginia that holds a license issued by the board.

"Reinstatement" means the process and requirements through which an expired license can be made valid without the regulant having to apply as a new applicant.

"Renewal" means the process and requirements for periodically approving the continuance of a license.

"Responsible person" means a person licensed under Chapter 20.1 (§ 54.1-2009 et seq.) of Title 54.1 of the Code of Virginia who shall be is designated by each regulant to ensure compliance with Chapter 20.2 (§ 54.1-2020 et seq.) of Title 54.1 of the Code of Virginia, and all regulations of the board, and to receive communications and notices from the board that may affect the regulant.

"Sole proprietor" means any individual, not a corporation or other registered business entity, who is trading under his the individual's own name or under an assumed or a fictitious name pursuant to the provisions of §§ Chapter 5 (§ 59.1-69 through 59.1-76 et seq.) of Title 59.1 of the Code of Virginia.

"Timely payment" means payment to an appraiser for the completion of an appraisal or a valuation assignment within 30 days after the appraiser delivers the completed appraisal or valuation assignment to the appraisal management company except in cases of breach of contract or noncompliance with the conditions of the engagement or performance of services that violates the Uniform Standards of Professional Appraisal Practice.

18VAC130-30-20. Application procedures.

An applicant seeking licensure shall must submit an application with the appropriate fee specified in 18VAC130-30-60. Application shall must be made on a form provided by the board or its agent.

By submitting the application to the department, the applicant certifies that the applicant has read and understands the applicable statutes and the board's regulations.

The receipt of an application and the deposit of fees by the board does not indicate approval by the board.

The board may make further inquiries and investigations with respect to the applicant's qualifications to confirm or amplify information supplied. All applications shall be completed in accordance with the instructions contained in this chapter and on the application. Applications No application will not be considered complete until all documents are received by the board.

A firm will be notified within 30 days of the board's receipt of an initial application if the application is incomplete. A firm that fails to complete the process within 12 months of receipt of the application in the board's office must submit a new application and fee.

18VAC130-30-30. Qualifications for licensure as an appraisal management company.

A. Firms that meet the definition of appraisal management company as defined in § 54.1-2020 of the Code of Virginia shall submit an application on a form prescribed by the board and shall must meet the requirements set forth in § 54.1-2021.1 of the Code of Virginia, as well as the additional qualifications of this section.

B. Any firm acting as an appraisal management company as defined in § 54.1-2020 of the Code of Virginia shall must hold a license as an appraisal management company. All names under which the appraisal management company conducts business shall, including any trade or fictitious names, must be disclosed on the application. The name under which the firm conducts business and holds itself out to the public (i.e., the trade or fictitious name) shall also be disclosed on the application. Firms shall must be organized as business entities under the laws of the Commonwealth of Virginia or otherwise authorized to transact business in Virginia. Firms shall must register any trade or fictitious names with the State Corporation Commission or the clerk of the court in the county or jurisdiction where the business is to be conducted in accordance with §§ 59.1-69 through 59.1-76 § 59.1-70 of the Code of Virginia before submitting an application to the board.

C. The applicant for an appraisal management company license shall disclose the firm's mailing address must provide an address of record and the firm's physical address. A post office box is only acceptable as a mailing an address of record when a physical address is also provided.

D. In accordance with § 54.1-204 of the Code of Virginia, each applicant for an appraisal management company license shall must have any person who owns 10% or more of the firm and the controlling person of the firm submit to fingerprinting and a background investigation and disclose the following information:

1. All felony convictions.

2. All misdemeanor convictions except marijuana convictions involving moral turpitude, sexual offense, non-marijuana drug distribution, or physical injury in any jurisdiction that occurred within five years of the date of application.

3. Any plea of nolo contendere or finding of guilt regardless of adjudication or deferred adjudication shall will be considered a conviction for the purposes of this section. The record of conviction certified or authenticated in such form as to be admissible in evidence under the laws of the jurisdiction where convicted shall will be admissible as prima facie evidence of such guilt.

E. The applicant for an appraisal management company license must disclose for the firm, the controlling person, the responsible person, and any person who owns 10% or more of the firm shall be in good standing in Virginia and in every jurisdiction and with every any action taken by any board or administrative body where licensed, certified, or registered, and the board, in its discretion, may deny licensure to any applicant who has been subject to, or whose in any jurisdiction against a professional or occupational license, certification, or registration issued to the firm, the controlling person or, the responsible person has been subject to, or and any person who owns 10% or more of the firm has been subject to, any form of adverse disciplinary action, including (i) reprimand; revocation, including any suspension, or denial of license; revocation, or surrender of a license, certification, or registration; imposition of a monetary penalty; or requirement to complete take remedial education, or any other corrective action in any jurisdiction or by any board or administrative body or (ii) surrender of a license, a certificate, or registration in connection with any disciplinary action in any jurisdiction prior to obtaining licensure in Virginia.

F. The board shall may deny the application for licensure of an applicant for an appraisal management company if any person or entity that owns any part of the appraisal management company has had a license to act as an appraiser refused, denied, canceled, surrendered in lieu of revocation, or revoked in Virginia or any jurisdiction.

G. The applicant for an appraisal management company license shall must be in compliance with the standards of conduct and practice set forth in Part V (18VAC130-30-120 et seq.) of this chapter at the time of application, while the application is under review by the board, and at all times when the license is in effect.

H. The applicant for an appraisal management company license shall must submit evidence of a bond or letter of credit in accordance with § 54.1-2021.1 D of the Code of Virginia. Proof of current bond or letter of credit with the appraisal management company as the named bond holder or letter of credit holder must be submitted to obtain or renew the license. The bond or letter of credit must be in force no later than the effective date of the license and shall must remain in effect through the date of expiration of the license. The bond or letter of credit shall must include:

1. The principal of the bond or letter of credit;

2. The beneficiary of the bond or letter of credit;

3. The name of the surety or financial institution that issued the bond or letter of credit;

4. The bond or letter of credit number as assigned by the issuer;

5. The dollar amount; and

6. The expiration date, or, if self-renewing, the date by which the bond or letter of credit shall must be renewed.

I. The firm shall must provide the name, address, and contact information for any person or entity that owns 10% or more of the appraisal management company.

J. The firm shall must designate a responsible person.

18VAC130-30-50. General fee requirements.

All fees are nonrefundable and shall will not be prorated. The date on which the fee is received by the department or its agent will determine whether the fee is on time. Checks or money orders shall be payable to the Treasurer of Virginia.

18VAC130-30-60. Fee schedule.

The following fees apply:

Fee Type	Fee Amount	When Due
Initial Application - Appraisal Management Company	$340	With application
Renewal - Appraisal Management Company	$150	With At renewal application
Reinstatement - Appraisal Management Company	$490 (includes a $340 reinstatement fee in addition to the regular $150 renewal fee)	With At reinstatement application

Each appraisal management company shall will be assessed a National Registry fee in accordance with § 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 USC §§ 3331-3356) (the Act). The National Registry fee will be $25 multiplied by the number of appraisers who have performed an appraisal for the appraisal management company in Virginia during the previous year. The minimum National Registry fee will be $25. This fee may be adjusted and charged to the appraisal management company in accordance with the Act. If an applicant fails to qualify for licensure, then the National Registry fee will be refunded.

18VAC130-30-70. Renewal required.

A license issued under this chapter shall will expire one year from the last day of the month in which it the license was issued. A fee shall be required for renewal.

18VAC130-30-80. Expiration and renewal.

A. Prior to the expiration date shown on the license, licenses shall will be renewed upon (i) completion of the renewal application, (ii) submittal of proof of current bond or letter of credit as detailed in 18VAC130-30-30 H, and (iii) payment of the fees specified in 18VAC130-30-60.

B. The board will mail send a renewal notice to the regulant at the last known mailing address of record. Failure to receive this notice shall does not relieve the regulant of the obligation to renew. If the regulant fails to receive the renewal notice, a copy of the license may be submitted with the required fees as an application for renewal. By submitting an application for renewal, the regulant is certifying continued compliance with the standards of conduct and practice in Part V (18VAC130-30-120 et seq.) of this chapter.

C. Applicants for renewal shall continue to meet all of the qualifications for licensure set forth in Part II (18VAC130-30-20 et seq.) of this chapter.

18VAC130-30-90. Reinstatement of appraisal management company license required.

A. If all of the requirements for renewal of a license as specified in 18VAC130-30-80 A are not completed within 30 days of the license expiration date, the regulant shall will be required to reinstate the license by meeting all renewal requirements and by paying the reinstatement fee specified in 18VAC130-30-60.

B. A license may be reinstated for up to one year following the expiration date. After one year, the license may not be reinstated under any circumstances and the firm must meet all current entry requirements and apply as a new applicant.

C. Any regulated activity conducted subsequent to the license expiration date may constitute unlicensed activity and be subject to prosecution under Chapter 1 (§ 54.1-100 et seq.) of Title 54.1 of the Code of Virginia.

18VAC130-30-100. Status of license during the period prior to reinstatement.

A regulant licensee that applies for reinstatement of a reinstates a license shall be subject to all laws and regulations as if the regulant had will be regarded as having been continuously licensed without interruption. The regulant shall remain under and Therefore, a licensee will be subject to the disciplinary authority of the board during this entire period for activities performed prior to reinstatement.

18VAC130-30-120. Grounds for disciplinary action.

The board has the power to fine impose a monetary penalty against any regulant, to place any regulant on probation, and to suspend or revoke any license issued under the provisions of Chapter 20.2 (§ 54.1-2020 et seq.) of Title 54.1 of the Code of Virginia and the regulations of the board, in accordance with § 54.1-201 A 7 and § 54.1-202 of the Code of Virginia and the provisions of the Administrative Process Act (§ 2.2-4000 et seq. of the Code of Virginia) when any regulant has been found to have violated or cooperated with others in violating any provision of Chapter 20.2 of Title 54.1 of the Code of Virginia, any relevant provision of the Uniform Standards of Professional Appraisal Practice as developed by the Appraisal Standards Board of the Appraisal Foundation, or any regulation of the board.

18VAC130-30-130. Maintenance of license.

A. No license issued by the board shall be assigned or otherwise transferred.

B. A. A regulant shall must report, in writing, all changes of address to the board within 30 days of the change and shall must return the license to the board. In addition to the address of record, a physical address is required for each license. If the regulant holds more than one license, certificate, or registration, the regulant shall must inform the board of all licenses, certificates, and registrations affected by the address change.

C. B. Any change in any of the qualifications for licensure found in 18VAC130-30-30 shall must be reported to the board within 30 days of the change.

D. C. Notwithstanding the provisions of subsection C of this section, a regulant shall must report the cancellation, amendment, expiration, or any other change of any bond or letter of credit submitted in accordance with 18VAC130-30-30 H within five days of the change.

E. D. A regulant shall must report to the board the discharge or termination of the responsible person and provide to the board the new responsible person designated by the regulant within five business days of the discharge or termination and name a new responsible person.

18VAC130-30-140. Change of business entity requires a new license.

A. Licenses are issued to firms as defined in this chapter and are not transferable. Whenever the legal business entity holding the license is dissolved or altered to form a new business entity, the license becomes void and shall must be returned to the board within 30 days of the change. Such changes include but are not limited to:

1. Cessation of the business or the voluntary termination of a sole proprietorship or general partnership;

2. Death of a sole proprietor;

3. Formation, reformation, or dissolution of a general partnership, limited partnership, corporation, limited liability company, association, or any other business entity recognized under the laws of the Commonwealth of Virginia; or

4. The suspension or termination of the corporation's existence by the State Corporation Commission.

B. When a new firm is formed, the new firm shall apply for must obtain a new license on a form provided by the board before engaging in any activity regulated by Chapter 20.2 (§ 54.1-2020 et seq.) of Title 54.1 of the Code of Virginia or the regulations of the board.

18VAC130-30-150. Notice of adverse action.

A. Licensed appraisal management companies shall must notify the board of the following actions against the firm, the responsible person, any controlling person, or any person who owns 10% or more of the firm:

1. Any disciplinary action taken by any jurisdiction, board, or administrative body of competent jurisdiction, including any reprimand; license or certificate revocation, suspension, or denial; monetary penalty; or requirement for remedial education or other corrective action.

2. Any voluntary surrender of a license, certificate, or registration done in connection with a disciplinary action in another jurisdiction.

3. Any conviction, finding of guilt, or plea of guilty, regardless of adjudication or deferred adjudication, in any jurisdiction of the United States of any misdemeanor involving moral turpitude, sexual offense, non-marijuana drug distribution, or physical injury, or any felony, there being no appeal pending therefrom or the time for appeal having lapsed. Review of convictions shall will be subject to the requirements of § 54.1-204 of the Code of Virginia. Any plea of nolo contendere shall will be considered a conviction for the purpose of this section.

B. The notice must be made to the board in writing within 30 days of the action. A copy of the order or other supporting documentation must accompany the notice. The record of conviction, finding, or case decision shall will be considered prima facie evidence of a conviction or finding of guilt.

18VAC130-30-170. Response to inquiry and provision of records.

A. A regulant must respond within 10 days to a request by the board or any of its agents regarding any complaint filed with the department.

B. Unless otherwise specified by the board, a regulant of the board shall must produce to the board or any of its agents within 10 days of the request any document, book, or record concerning any transaction pertaining to a complaint filed in which the regulant was involved, or for which the regulant is required to maintain records for inspection and copying by the board or its agents. The board may extend such time frame timeframe upon a showing of extenuating circumstances prohibiting delivery within such 10-day period.

C. A No regulant shall not may provide a false, misleading, or incomplete response to the board or any of its agents seeking information in the investigation of a complaint filed with the board.

D. With the exception of the requirements of subsections A and B of this section, a regulant must respond to an inquiry by the board or its agents within 21 days.