HB 538 (BR 1556) - R. Damron
AN ACT relating to appraisal management companies.
Create new sections of KRS Chapter 324A to establish the appraisal management company education, research, and recovery fund; direct the Real Estate Appraisal Board to assess each registrant an annual fee of $800 to be included in the fund; designate purposes of the fund; require the board to maintain a minimum fund level of $200,000 for recovery and guaranty purposes; permit the board to use funds in excess of the required minimum balance for educational and other purposes that advance the appraisal field in Kentucky; establish procedure for making claims against the fund; define "aggrieved party"; permit the board to require a respondent to pay costs of investigation and all proceedings when disciplinary action is imposed pursuant to the chapter.
Mar 1-introduced in House
Mar 5-to Licensing & Occupations (H)