House Bill 1337

AN ACT TO CREATE THE MISSISSIPPI APPRAISAL MANAGEMENT COMPANY REGISTRATION ACT, TO PLACE APPRAISAL MANAGEMENT COMPANIES UNDER THE AUTHORITY OF THE REAL ESTATE APPRAISER LICENSING AND CERTIFICATION COMMISSION; TO REQUIRE THOSE COMPANIES TO REGISTER WITH THE MISSISSIPPI REAL ESTATE APPRAISER LICENSING AND CERTIFICATION BOARD BEFORE ENGAGING IN THE BUSINESS AS AN APPRAISAL MANAGEMENT COMPANY; TO PRESCRIBE FOR AN APPLICATION OF REGISTRATION TO ENGAGE IN SUCH BUSINESS; TO PROVIDE FOR THE MINIMUM REGISTRATION REQUIREMENTS; TO EXEMPT THE APPLICABILITY OF THE ACT TO CERTAIN COMPANIES; TO REQUIRE EACH COMPANY APPLYING FOR REGISTRATION TO SUBMIT AN IRREVOCABLE UNIFORM CONSENT TO SERVICE OF PROCESS DESIGNATING AN AGENT TO RECEIVE SERVICE OF PROCESS FOR THE COMPANY; TO PRESCRIBE THE REQUIREMENTS OF OWNERS, CONTROLLING PERSONS AND EMPLOYEES OF AN APPRAISAL MANAGEMENT COMPANY; TO REQUIRE THE COMPANY TO DESIGNATE ONE CONTROLLING PERSON TO ACT AS THE CONTACT FOR ALL COMMUNICATIONS BETWEEN THE COMMISSION AND THE COMPANY; TO REQUIRE THOSE COMPANIES TO CERTIFY TO THE BOARD ITS SYSTEM OF VERIFICATION FOR ADDITIONS TO ITS APPRAISAL PANEL, REVIEW OF WORK DONE BY INDEPENDENT APPRAISERS AND CONTINUING LICENSURE OR CERTIFICATION REQUIREMENTS; TO REQUIRE THOSE COMPANIES TO CERTIFY BIENNIALLY TO THE BOARD ITS ADHERENCE TO CERTAIN PROFESSIONAL AND GOVERNMENTAL STANDARDS; TO REQUIRE THE COMPANY TO RETAIN RECORDS RELATING TO ITS APPRAISAL ACTIVITIES FOR A MINIMUM OF FIVE YEARS; TO PROHIBIT THE ALTERATION OF APPRAISAL REPORTS; TO REQUIRE THE BOARD TO ISSUE A REGISTRATION NUMBER TO EACH COMPANY REGISTERED IN THE STATE; TO REQUIRE THE COMPANY TO DISCLOSE ITS REGISTRATION NUMBER ON ENGAGEMENT DOCUMENTS PRESENTED TO THE APPRAISER; TO PROVIDE A PROCEDURE FOR THE SETTLING OF DISPUTES BETWEEN AN APPRAISAL MANAGEMENT COMPANY AND AN APPRAISER; TO PROVIDE DUE PROCESS TO INDEPENDENT APPRAISERS REMOVED FROM AN APPRAISAL PANEL FOR MISCONDUCT AND CERTAIN OTHER VIOLATIONS; TO AMEND SECTIONS 73-34-3, 73-34-9, 73-34-13, 73-34-25, 73-34-27, 73-34-29, 73-34-35, 73-34-41, 73-34-43, 73-34-45, 73-34-49 AND 73-34-53, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Brandon Jones

  Sponsor

• Senate committee amendmentPending

• Senate floor amendmentPending

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 17 – Feb 8

1. Jan 17Referred to the House committees on Judiciary B and on Appropriations
2. Jan 27Reported as a committee substitute from JB to AP in the House: title sufficient, do pass
3. Feb 1Reported as a committee substitute from AP to JB in the House: title sufficient, do pass
4. Reported from committee in the House: title sufficient, do pass as a committee substitute
5. Feb 8Committee substitute adopted in the House
6. Passed the House

In the Senate Feb 10 – Mar 9

1. Feb 10Sent to the Senate
2. Feb 11Referred to the Senate committee on Business and Financial Institutions
3. Feb 23Reported from committee in the Senate: title sufficient, do pass as amended
4. Mar 9Amended in the Senate
5. Passed the Senate as amended

Back in the House of Representatives Mar 11 – Mar 21

1. Mar 11Returned to the House to concur in the Senate's amendments
2. Mar 14Concurred in the House in the Senate's amendments
3. Mar 21Enrolled bill signed in the House

To the Governor Mar 22 – Mar 30

1. Mar 22Enrolled bill signed in the Senate
2. Mar 30Approved by the Governor