CO HB1110

Establishes state licensing and regulation of appraisal management companies (AMCs) overseeing networks of appraisers, requiring a $25,000 surety bond and controlling appraiser certification.

Adds AMC representative to the Board of Real Estate Appraisers and requires fingerprint-based criminal history checks for all applicants and licensees, with authority to deny licenses based on criminal history.

Prohibits AMCs from influencing appraisals through coercion, requiring indemnification clauses, altering reports without consent, or restricting appraiser communications; requires payment within 60 days and annual audits of appraisal quality.

Mandates errors and omissions insurance for all appraisers and AMCs (except government employees), with the division contracting for group policies after competitive bidding.

Provides $265,104 in appropriations for fiscal year 2013 for implementation, with effective date of July 1, 2013.