IN HB1235 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Summary
Requires appraisal management companies to register with the real estate appraiser licensure and certification board (board). Provides that the registration fee may not exceed $500. Prohibits a person from owing an interest in an appraisal management company if the person has had the person's license or certificate to act as a real estate appraiser in any state revoked and not reinstated. Provides that an appraisal management company may only hire an independent contractor to perform an appraisal who holds a real estate appraiser license or certificate or a real estate broker license and is in good standing. Requires an individual who conducts appraisal reviews for an appraisal management company to be a licensed or certified appraiser or a licensed real estate broker. Requires an appraisal management company to maintain certain records. Provides that an appraisal management company is responsible for ensuring that an appraisal meets certain standards. Allows the board to impose a civil penalty for a violation of the appraisal management company provisions. Makes it a Class A infraction for a person to perform appraisal management services without a certificate or registration.
Title
Regulation of appraisal management companies.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2010-03-25 | Effective 07/01/2010 | |
| 2010-03-25 | Public Law 77 | |
| 2010-03-17 | Signed by the Governor | |
| 2010-03-11 | Signed by the President of the Senate | |
| 2010-03-10 | Signed by the President Pro Tempore | |
| 2010-03-08 | Signed by the Speaker | |
| 2010-03-01 | House concurred in Senate amendments; Roll Call 277: Yeas 93, Nays 0 | |
| 2010-02-23 | Senators Lanane and Charbonneau added as cosponsors | |
| 2010-02-23 | Returned to the House with amendments | |
| 2010-02-23 | Third reading: passed; Roll Call 210: Yeas 48 and Nays 2 | |
| 2010-02-22 | Second reading: ordered engrossed | |
| 2010-02-18 | Committee report: amend do pass, adopted | |
| 2010-02-16 | Senator Becker added as cosponsor | |
| 2010-02-11 | Senator Tallian added as cosponsor | |
| 2010-02-01 | First reading: referred to Committee on Commerce and Public Policy & Interstate Cooperation | |
| 2010-01-26 | Senate sponsors: Senators Kruse and Broden | |
| 2010-01-26 | Referred to the Senate | |
| 2010-01-26 | Third reading: passed; Roll Call 81: Yeas 95, Nays 1 | |
| 2010-01-25 | Second reading: ordered engrossed | |
| 2010-01-20 | Committee report: amend do pass, adopted | |
| 2010-01-13 | Representatives Bardon, Burton and M. Smith added as coauthors | |
| 2010-01-11 | First reading: referred to Committee on Financial Institutions | |
| 2010-01-11 | Authored by Representative Barnes |
