Bill Text: MI HB5591 | 2017-2018 | 99th Legislature | Introduced
Bill Title: Occupations; appraisers; time period for filing a complaint against a licensee for certain violations; modify. Amends sec. 2635 of 1980 PA 299 (MCL 339.2635).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-05-23 - Assigned Pa 157'18 With Immediate Effect [HB5591 Detail]
Download: Michigan-2017-HB5591-Introduced.html
HOUSE BILL No. 5591
February 15, 2018, Introduced by Reps. Iden and Lucido and referred to the Committee on Regulatory Reform.
A bill to amend 1980 PA 299, entitled
"Occupational code,"
by amending section 2635 (MCL 339.2635), as amended by 2008 PA 531.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2635. (1) Except as otherwise provided in subsection (2),
a
licensee who does 1 or more of the following shall be is subject
to the penalties set forth in article 6:
(a) Violates any of the standards for the development and
communication of real property appraisals as provided in this
article
or a rule promulgated pursuant to under this article.
(b) Fails or refuses without good cause to exercise reasonable
diligence in developing or communicating an appraisal.
(c) Demonstrates incompetence in developing or communicating
an appraisal.
(d)
Fails to make available to the department upon on request
or fails to maintain books and records required under this article.
(e) Performs, attempts to perform, or offers to perform
appraisal services for which the individual is not licensed under
this article.
(f) Aids or abets another to commit a violation of this act or
the rules promulgated under this act.
(g) Uses the license of another individual or knowingly allows
another individual to use his or her license.
(h) If a limited real estate appraiser fails to disclose to
the client, before making an appraisal, that the licensee's
appraisal cannot be used in a federally related transaction.
(i) Develops and communicates, in violation of the standards
adopted under this article, an appraisal used as an investment or
as collateral for a loan in a real-estate-related financial
transaction by developing and communicating that appraisal as a
result of the client's or intended user's doing either or both of
the following:
(i) Setting preconditions on the outcome of the appraisal as a
prerequisite for being selected to develop and communicate an
appraisal or for obtaining future appraisal work. As used in this
subparagraph, "setting preconditions on the outcome of an
appraisal" does not include the communication of information,
including documents related to the property being appraised,
necessary to identify the valuation problem to be solved and the
scope of work necessary to determine credible assignment results.
(ii) Representing or implying that payment for the development
and
communication of the appraisal is predicated upon on attaining
a desired minimum appraised value.
(2)
A person An individual licensed under this article who
violates subsection (1)(i) is guilty of a misdemeanor punishable by
a fine of not more than $15,000.00 or imprisonment for not more
than 1 year, or both.
(3) A complaint under article 5 that seeks a penalty for a
violation of this section must be filed within 18 months after 1 of
the following dates, whichever occurs later:
(a) The date of the alleged violation.
(b) If the alleged violation occurs in connection with the
performance of an appraisal, the delivery of the appraisal to the
client.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.
