CT SB00013

Requires appraisal management companies to register with the Department of Consumer Protection before operating in Connecticut, with an initial registration fee of $1,000 and biennial renewal fee of $1,000.

Mandates appraisal management companies maintain detailed records of appraisal requests and the appraisers who perform them, and ensures appraisals comply with Uniform Standards of Professional Appraisal Practice (USPAP).

Prohibits appraisal management companies from influencing appraisers to misstate property values through various coercive means, including withholding payment, threatening to terminate assignments, or providing predetermined valuation targets.

Requires appraisal management companies to disclose to clients the compensation paid to appraisers and the amount retained by the company, and prohibits preventing appraisers from disclosing appraisal fees or company names in reports.

Establishes protections for appraisers including 60-day payment requirements, written notice before removal from an appraiser panel, and the right to appeal removals to the Commissioner of Consumer Protection.