You would be in conflict with AMA safety standards, but there is no law involved.
Not so. If it's being controlled while it's out of sight, it's a UAV, and the Federal government regulates those. It's illegal to fly one without their permission, and you won't get that permission. This makes some sense, as UAVs could potentially be a useful thing for terrorists to play with and also a hazard to full-scale aviation. Whether flying it from a camera-based viewpoint even when it's within visual range makes it a UAV is something I don't know; best to check before doing it.