LRC Seal

SB66

10RS

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Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.


SB 66 (BR 898) - D. Seum

     AN ACT relating to real estate appraisal management companies.
     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; establish a filing fee of not more than $5,000 and require surety bond; 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.

SB 66 - AMENDMENTS


     SCS - Retain original provisions except delete the provision that a registrant shall not hire a real estate broker to perform a broker's price opinion or comparative market analysis to be used in lieu of an appraisal.

     SFA (1, D. Seum) - Modify the filing fee the Kentucky Real Estate Appraisers Board may charge an appraisal management company from a maximum of $5,000 to a reasonable fee as set by the board.

     Jan 5-introduced in Senate
     Jan 6-to Licensing, Occupations & Administrative Regulations (S)
     Mar 9-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 10-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Monday, March 15, 2010; floor amendment (1) filed to Committee Substitute
     Mar 15-3rd reading, passed 34-0 with Committee Substitute, floor amendment (1)
     Mar 16-received in House
     Mar 18-to Licensing & Occupations (H)
     Mar 22-posting waived

Vote History
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