00RS HB499


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HB 499 (BR 1852) - J. Adams

     AN ACT relating to errors and omissions insurance for real estate appraisers.
     Create a new section of KRS Chapter 324A.010 to 324A.090 to make errors and omissions insurance mandatory for all real estate appraiser licensees and certificate holders; require insurance coverage to be effective July 1, 2001.


     HCA (1, C. Miller) - Amend Subsection (1) of Section 1 to exempt salaried employees of the federal and state government from the requirement to carry errors and omissions insurance if they do not perform fee appraisals; technical correction.
     HFA (1, J. Reinhardt) - Change upper cap on cost of insurance from $500 to $750; require that minimum coverage be at least $250,000.

     Jan 27-introduced in House
     Jan 28-to Licensing and Occupations (H)
     Feb 1-posted in committee
     Feb 9-floor amendment (1) filed ; reported favorably, 1st reading, to Calendar with committee amendment (1)
     Feb 10-2nd reading, to Rules
     Feb 14-posted for passage in the Regular Orders of the Day for Tuesday, February 15, 2000
     Feb 15-3rd reading, passed 96-0 with floor amendment (1)
     Feb 16-received in Senate
     Feb 18-to Banking and Insurance (S)
     Feb 29-reported favorably, 1st reading, to Calendar
     Mar 1-2nd reading, to Rules
     Mar 3-posted for passage in the Regular Orders of the Day for Monday, March 6, 2000
     Mar 6-3rd reading, defeated 14-12

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