l9n/ Mississippi

2011 Regular Session

Senate Bill 2940

Real Estate Appraisers Licensing and Certification Act; revise to place appraisal management companies under the authority of.

Did not become law. It stopped in the Senate's Business and Financial Institutions Committee on February 1, 2011. The 2011 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO PLACE APPRAISAL MANAGEMENT COMPANIES UNDER THE AUTHORITY OF THE REAL ESTATE APPRAISERS LICENSING AND CERTIFICATION ACT; TO REQUIRE THOSE COMPANIES TO REGISTER WITH THE BOARD OF REAL ESTATE APPRAISERS BEFORE ENGAGING IN THE BUSINESS OF REAL ESTATE MANAGEMENT; TO PROVIDE FOR THE MINIMUM REGISTRATION REQUIREMENTS; TO REQUIRE EACH COMPANY APPLYING FOR REGISTRATION TO SUBMIT AN IRREVOCABLE UNIFORM CONSENT TO SERVICE OF PROCESS DESIGNATING THE SECRETARY OF STATE AS THE 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 PLACE CERTAIN RESTRICTIONS ON THE AUTHORITY OF AN APPRAISAL MANAGEMENT COMPANY TO CONTRACT WITH INDEPENDENT APPRAISERS; TO REQUIRE THOSE COMPANIES TO CERTIFY ANNUALLY TO THE BOARD ITS SYSTEM OF VERIFICATION FOR ADDITIONS TO ITS APPRAISAL PANEL AND REVIEW OF WORK DONE BY INDEPENDENT APPRAISERS; TO REQUIRE DISCLOSURE TO THE BOARD, AS PART OF REGISTRATION, ANY USE OF AN APPRAISAL FEE SCHEDULE; TO MAKE IT UNLAWFUL FOR ANY PERSON TO INFLUENCE THE DEVELOPMENT, REPORTING OR REVIEW OF AN APPRAISAL; TO REQUIRE APPRAISAL MANAGEMENT COMPANIES TO MAKE PAYMENT TO INDEPENDENT APPRAISERS FOR THE COMPLETION OF AN APPRAISAL WITHIN SIXTY DAYS OF RECEIVING THE COMPLETED APPRAISAL; TO PROHIBIT THE REMOVAL OF AN INDEPENDENT APPRAISER FROM THE APPRAISAL PANEL OF A COMPANY WITHIN THE FIRST THIRTY DAYS OF BEING ADDED TO AN APPRAISAL PANEL; 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.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

Its course

January 17 to February 1, 2011, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action2 actions on 2 days

In the SenateJan 17 to Feb 1 · stopped15 days

Business and Financial InstitutionsJan 17 to Feb 1 · stopped15 days

Text

Each version as the Legislature printed it.

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

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Jan 17 – Feb 1

  1. Jan 17Referred to the Senate committee on Business and Financial Institutions
  2. Feb 1Died in committee in the Senate
All 2 actions, as published
  1. Jan 17Referred To Business and Financial InstitutionsSenate
  2. Feb 1Died In CommitteeSenate