Bill Text: AZ HB2401 | 2018 | Fifty-third Legislature 2nd Regular | Introduced
Bill Title: Civil action; limitation; appraisers
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-01-22 - House read second time [HB2401 Detail]
Download: Arizona-2018-HB2401-Introduced.html
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REFERENCE TITLE: civil action; limitation; appraisers |
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State of Arizona House of Representatives Fifty-third Legislature Second Regular Session 2018
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HB 2401 |
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Introduced by Representative Mosley
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AN ACT
amending title 12, chapter 5, article 2, Arizona Revised Statutes, by adding section 12‑531; relating to limitation of actions.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 12, chapter 5, article 2, Arizona Revised Statutes, is amended by adding section 12-531, to read:
12-531. Appraiser liability; statute of limitation; exception
A. A cause of action, whether based on contract or tort, against a state‑licensed appraiser, a state‑certified residential real estate appraiser, a state‑certified general appraiser or a registered trainee appraiser or any agent, firm, employee or employer of a state‑licensed appraiser, a state‑certified residential real estate appraiser, a state‑certified general appraiser or a registered trainee appraiser must be commenced before the earlier of:
1. The expiration of the applicable statute of limitation for the type of claim being pursued.
2. Two years after the date on which the appraisal giving rise to the action was completed or should have been completed.
3. Two years after the date on which the appraisal‑related service giving rise to the action was performed or should have been performed.
B. This section does not apply to a cause of action that is based on a claim that alleges a knowing or intentional fraud or a knowing or intentional misrepresentation made during the performance of a real estate appraisal or when providing an appraisal‑related service.
