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House Bill 288

Actions | Amendments
Last Action signed by Governor (Acts ch. 58)
Title AN ACT relating to real estate appraisal management companies.
Bill Documents Bill
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

Actions

Top | Amendments
02/02/11
  • introduced in House
02/03/11
  • to Licensing & Occupations (H)
02/04/11
  • posted in committee
02/09/11
  • reported favorably, 1st reading, to Consent Calendar
02/10/11
  • 2nd reading, to Rules
  • posted for passage in the Consent Orders of the Day for Friday, February 11, 2011
02/11/11
  • 3rd reading, passed 95-0
  • received in Senate
02/15/11
  • to Licensing, Occupations, & Administrative Regulations (S)
02/25/11
  • taken from Licensing, Occupations, & Administrative Regulations (S)
  • 1st reading
  • returned to Licensing, Occupations, & Administrative Regulations (S)
02/28/11
  • taken from Licensing, Occupations, & Administrative Regulations (S)
  • 2nd reading
  • returned to Licensing, Occupations, & Administrative Regulations (S)
03/01/11
  • reported favorably, to Rules with Committee Substitute as a Consent Bill
03/03/11
  • taken from Rules (S)
  • returned to Licensing, Occupations, & Administrative Regulations (S)
  • reported favorably, to Rules with Committee Substitute (2)
  • posted for passage in the Consent Orders of the Day for Friday, March 4, 2011
03/04/11
  • 3rd reading
  • Committee Substitute (1) withdrawn
  • passed 37-0 with Committee Substitute (2)
  • received in House
  • posted for passage for concurrence in Senate Committee Substitute (2)
  • House concurred in Senate Committee Substitute (2)
  • passed 93-0
  • enrolled, signed by each presiding officer
  • delivered to Governor
03/16/11
  • signed by Governor (Acts ch. 58)

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
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
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)