Last Action | signed by Governor (Acts ch. 58) |
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Title | AN ACT relating to real estate appraisal management companies. |
Bill Documents |
Bill
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Bill Request Number | 924 |
Sponsors | S. Westrom, A. Webb-Edgington |
Summary of Original Version | Create new sections of KRS Chapter 324A to define terms related to real estate appraisal management companies; require registration of real estate appraisal management companies with the board and provide qualifications and limitations on registration; require board to establish a reasonable filing fee in administrative regulation; specify the inclusion of the annual national registry fee required under federal law and maintained by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council; require surety bond not to exceed $500,000; require registrants and persons owning 10% or more of the registrant to submit to a national criminal history check through the Federal Bureau of Investigation; provide requirements for registered companies and their employees, directors, officers, and agents; require executive director of the board to maintain a register of all applicants; grant board the authority to penalize registrants for specified offenses; exempt specified parties from provisions of the Act; specify that the Act shall be known as the Kentucky Appraisal Management Company Registration Act. |
Index Headings of Original Version |
Consumer Affairs - Real estate appraisal management companies, business practices of Fees - Real estate appraisal management companies, registration fee Licensing - Real estate appraisal management companies, registration of Occupations and Professions - Real estate appraisal management companies, business practices of Small Business - Real estate appraisal management companies, business practices of Bonds of Surety - Real estate appraisal management companies, surety bond, requirement for |
Proposed Amendments |
Senate Committee Substitute 1 Senate Committee Substitute 2 |
Votes | Vote History |
02/02/11 |
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02/03/11 |
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02/04/11 |
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02/09/11 |
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02/10/11 |
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02/11/11 |
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02/15/11 |
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02/25/11 |
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02/28/11 |
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03/01/11 |
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03/03/11 |
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03/04/11 |
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03/16/11 |
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Amendment | Senate Committee Substitute 1 |
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Summary | Make technical corrections. |
Index Headings |
Consumer Affairs - Real estate appraisal management companies, business practices of Fees - Real estate appraisal management companies, registration fee Licensing - Real estate appraisal management companies, registration of Occupations and Professions - Real estate appraisal management companies, business practices of Small Business - Real estate appraisal management companies, business practices of Bonds of Surety - Real estate appraisal management companies, surety bond, requirement for |
Amendment | Senate Committee Substitute 2 |
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Summary | Retain original provisions, except make technical corrections; direct the real estate appraisers board to require national and state criminal background checks for real estate appraisal management company registrants; clarify that the background check is mandatory and not at the request of the registrant; replace payment and deadline language with a requirement that any background check fee charged by the Kentucky State Police or the F.B.I. not exceed the actual cost of the background check. |
Index Headings |
Consumer Affairs - Real estate appraisal management companies, business practices of Fees - Real estate appraisal management companies, registration fee Licensing - Real estate appraisal management companies, registration of Occupations and Professions - Real estate appraisal management companies, business practices of Small Business - Real estate appraisal management companies, business practices of Bonds of Surety - Real estate appraisal management companies, surety bond, requirement for |
Last updated: 1/16/2019 3:43 PM (EST)