2001 Regular Session

SENATE BILL 427

File Code: Business Regulation and Occupations
Sponsored By:
Senator Dorman
Entitled:
Licensed and Certified Real Estate Appraisers - Scope of Practice and Payment by Lenders

Synopsis:

Expanding the definition of providing real estate appraisal services to include valuation of any real estate in the State that will result in the total indebtedness of a person that exceeds $1; prohibiting a lender that enters into a contract with a licensed or certified real estate appraiser from making payment dependent on a factual finding of the appraisal or from withholding payment after 90 days under specified circumstances; etc.

History by Legislative Date

Senate Action
2/2
First Reading Finance
2/6
Hearing 2/14 at 1:00 p.m.
2/26
Unfavorable Report by Finance
House Action
No Action
Bill indexed under the following Subjects:
APPRAISALS
BANKS AND TRUST COMPANIES
CIVIL ACTIONS -see also- SMALL CLAIMS
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
CREDIT UNIONS
FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
MORTGAGES
PENALTIES
REAL ESTATE -see also- AGENTS AND BROKERS
SAVINGS AND LOAN ASSOCIATIONS
Bill affects the following Statutes:
Business Occupations and Professions
( 16-101 , 16-702 )
Real Property
( 14-127 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered