AR HB1927

Amends Arkansas Code § 17-14-103(23) and (24) to replace references to the "Appraisal Subcommittee" with the "Appraiser Qualifications Board" in the definitions of state-certified residential appraisers and state-licensed appraisers.

Extends the statute of limitations for complaints and investigations by the Arkansas Appraiser Licensing and Certification Board from three (3) years to five (5) years from the date of the actions complained of, except in cases involving false or fraudulent representation.

Declares an emergency based on findings that the previous 3-year statute of limitations was inconsistent with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, resulting in a non-compliance finding that could lead to monetary sanctions or decertification.

Makes the act effective immediately upon the Governor's approval, upon the expiration of the Governor's veto period, or upon veto override by the legislature.