VA HB210 | 2012 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 30 2012 - 100% progression
Action: 2012-03-30 - Governor: Acts of Assembly Chapter text (CHAP0405)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 30 2012 - 100% progression
Action: 2012-03-30 - Governor: Acts of Assembly Chapter text (CHAP0405)
Text: Latest bill text (Chaptered) [HTML]
Summary
Regulation of real estate appraisal management companies. Adds definitions of "appraisal services” and "appraiser" and provides exemptions from licensure for certain entities. The bill also (i) authorizes the Board, beginning July 1, 2014, to issue a license to a person or entity to do business as an appraisal management company in the Commonwealth provided such person or entity meets certain requirements set out in the bill; (ii) requires the Board to require an appraisal management company as a condition of licensure to execute a performance agreement and provide collateral to the Board in form of cash, letter of credit, or bond in an amount sufficient as reasonably determined by the Board to secure the payment of the obligations of the licensee for its transactions in the Commonwealth for a period not less than 12 months; (iii) increases the civil penalty from not more than $2,500 to $10,000 for willful violations by a real estate appraisal management company; and (iv) requires the disclosure on the settlement statement of any fees paid to a real estate appraisal management company. The bill requires the Real Estate Appraiser Board to adopt emergency regulations to implement the provisions of the bill.
Title
Real estate appraisal management companies; includes feed paid to appraiser in appraisal reports.
Sponsors
Roll Calls
2012-02-29 - House - House: VOTE: ADOPTION (83-Y 0-N) (Y: 85 N: 0 NV: 17 Abs: 0) [PASS]
2012-02-29 - Senate - Senate: Passed Senate with substitute (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2012-02-29 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-27 - Senate - Senate: Reported from General Laws and Technology with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-14 - House - House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (Y: 102 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-09 - House - House: Reported from General Laws with substitute (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2012-02-08 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-29 - Senate - Senate: Passed Senate with substitute (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2012-02-29 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-27 - Senate - Senate: Reported from General Laws and Technology with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-14 - House - House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (Y: 102 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-09 - House - House: Reported from General Laws with substitute (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2012-02-08 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-03-30 | Governor: Acts of Assembly Chapter text (CHAP0405) | |
| 2012-03-30 | Governor: Approved by Governor-Chapter 405 (effective - see bill) | |
| 2012-03-07 | Senate: Signed by President | |
| 2012-03-05 | House: Signed by Speaker | |
| 2012-03-05 | House: Bill text as passed House and Senate (HB210ER) | |
| 2012-03-05 | House: Enrolled | |
| 2012-02-29 | House: VOTE: ADOPTION (83-Y 0-N) | |
| 2012-02-29 | House: Senate substitute agreed to by House 12105639D-S1 (83-Y 0-N) | |
| 2012-02-29 | House: Passed by temporarily | |
| 2012-02-29 | House: Placed on Calendar | |
| 2012-02-29 | Senate: Passed Senate with substitute (39-Y 0-N) | |
| 2012-02-29 | Senate: Engrossed by Senate - committee substitute HB210S1 | |
| 2012-02-29 | Senate: Committee substitute agreed to 12105639D-S1 | |
| 2012-02-29 | Senate: Reading of substitute waived | |
| 2012-02-29 | Senate: Read third time | |
| 2012-02-29 | Senate: Constitutional reading dispensed (40-Y 0-N) | |
| 2012-02-27 | Senate: Reported from General Laws and Technology with substitute (15-Y 0-N) | |
| 2012-02-27 | Senate: Committee substitute printed 12105639D-S1 | |
| 2012-02-15 | Senate: Referred to Committee on General Laws and Technology | |
| 2012-02-15 | Senate: Constitutional reading dispensed | |
| 2012-02-14 | House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) | |
| 2012-02-14 | House: Read third time and passed House BLOCK VOTE (100-Y 0-N) | |
| 2012-02-13 | House: Engrossed by House - committee substitute HB210H1 | |
| 2012-02-13 | House: Committee substitute agreed to 12105248D-H1 | |
| 2012-02-13 | House: Passed by temporarily | |
| 2012-02-13 | House: Read second time | |
| 2012-02-12 | House: Read first time | |
| 2012-02-09 | House: Committee substitute printed 12105248D-H1 | |
| 2012-02-09 | House: Reported from General Laws with substitute (21-Y 0-N) | |
| 2012-02-08 | House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N) | |
| 2012-01-13 | House: Assigned GL sub: #1 Housing | |
| 2012-01-09 | House: Referred to Committee on General Laws | |
| 2012-01-09 | House: Prefiled and ordered printed; offered 01/11/12 12102594D |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 54 | 1 | 2020 | (n/a) | See Bill Text |
| 54 | 1 | 2021 | (n/a) | See Bill Text |
| 54 | 1 | 2021.1 | (n/a) | See Bill Text |
| 54 | 1 | 2022 | (n/a) | See Bill Text |
| 54 | 1 | 2023 | (n/a) | See Bill Text |
