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Senate Bill 0337


Senate Bill 0337

ARCHIVE (2013)

Latest Information

 

DIGEST OF INTRODUCED BILL


Appraisal management companies. Prohibits an appraisal management company (AMC) from removing an appraiser from its appraiser panel or otherwise refusing to assign requests for real estate appraisal services to a real estate appraiser on its appraiser panel unless the AMC meets certain requirements. Allows a real estate appraiser to request the real estate appraiser licensure and certification board (board) to review the AMC's removal of the real estate appraiser or the AMC's refusal to assign requests to the real estate appraiser. Provides that an AMC is subject to disciplinary sanctions if the board determines that the real estate appraiser did not commit a violation of the law or applicable real estate appraisal standards. Requires an AMC, before the AMC receives payment for real estate appraisal services, to: (1) provide to the person who requested the appraisal services; and (2) make clear to any person that may rely on the appraisal report; information concerning fees. Provides that an AMC or a person requesting appraisal services from an AMC may not prohibit a real estate appraiser from disclosing the real estate appraiser's fee in a real estate appraisal report.
    Current Status:
     In Committee - first House
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