11RS HB288
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HB288

11RS

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HB 288 (BR 924) - S. Westrom, A. Webb-Edgington

     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; 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.

HB 288 - AMENDMENTS


     SCS (1) - Make technical corrections.
     SCS (2) - 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.

     Feb 2-introduced in House
     Feb 3-to Licensing & Occupations (H)
     Feb 4-posted in committee
     Feb 9-reported favorably, 1st reading, to Consent Calendar
     Feb 10-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Friday, February 11, 2011
     Feb 11-3rd reading, passed 95-0; received in Senate
     Feb 15-to Licensing, Occupations, & Administrative Regulations (S)
     Feb 25-taken from Licensing, Occupations, & Administrative Regulations (S); 1st reading; returned to Licensing, Occupations, & Administrative Regulations (S)
     Feb 28-taken from Licensing, Occupations, & Administrative Regulations (S); 2nd reading; returned to Licensing, Occupations, & Administrative Regulations (S)
     Mar 1-reported favorably, to Rules with Committee Substitute as a Consent Bill
     Mar 3-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
     Mar 4-3rd 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
     Mar 16-signed by Governor

Vote History
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