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CT HB05638

Bill

Official Source

Status

Introduced

1/23/2013

Primary Sponsor

Insurance and Real Estate Committee

Click for details

Origin

House of Representatives

2013 General Assembly

AI Summary

  • Reduces the payment deadline for appraisal management companies from 60 days to 45 days after an appraiser submits a completed appraisal or valuation assignment.
  • Exempts payments from the new timeline in cases of contract breach, substandard service performance, or when parties have mutually agreed to an alternate payment schedule in writing.
  • Takes effect October 1, 2013 and amends section 20-529b(c) of the Connecticut General Statutes.

Legislative Description

An Act Decreasing The Time Frame For Payment By An Appraisal Management Company To An Appraiser.

Last Action

File Number 204

3/27/2013

Committee Referrals

Banks2/26/2013
Insurance and Real Estate1/23/2013

Full Bill Text

No bill text available