SENATE BILL 291

Sponsored By:

Senator Dorman

Entitled:

Real Estate Appraisals - Prohibition on Making Payment Dependent on Finding of the Appraisal

Synopsis:

Prohibiting a bank, mortgage lender, savings and loan association, or other lender that enters into a contract with a real estate appraiser that requires the real estate appraiser to make an appraisal of real property from making the payment of the real estate appraiser dependent on a factual finding of the appraisal; etc.

History by Legislative Date

Senate Action

1/29

First Reading Finance

1/31

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

DAMAGES

FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.

HOUSING -see also- APARTMENTS; CONDOMINIUMS; MOBILE HOMES

LOANS -see also- MORTGAGES

MORTGAGES

PENALTIES

REAL ESTATE -see also- AGENTS AND BROKERS

SAVINGS AND LOAN ASSOCIATIONS

Bill affects the following Statute:

Real Property

( 14-127 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered