MS SB2538

Requires each individual owner of more than 10% of an appraisal management company to undergo a fingerprint-based criminal history records check through the Mississippi central criminal database and Federal Bureau of Investigation for initial registration and every third annual renewal thereafter.

Establishes that owners must have good moral character and cannot have been convicted of or pleaded nolo contendere to felonies relating to appraisal, banking, mortgage, financial services, or crimes involving fraud, misrepresentation, or moral turpitude.

If no individual owns more than 10% of the company, the controlling person designated by the appraisal management company must instead be subject to the background check requirements.

Requires applicants to submit a full set of fingerprints in a form prescribed by the board, which shall be forwarded to the Mississippi Department of Public Safety and the Federal Bureau of Investigation Identification Division.

Designates criminal history records obtained by the board as nonpublic and confidential information restricted to board use in evaluating applicant eligibility, and allows the board to charge applicants for the costs of obtaining state and national criminal history records.