Substitute Bill No. 1007 Summary

• Redefines "appraisal management services" to include administration of appraiser panels, recruitment of certified appraisers, and receipt and delivery of appraisal requests or orders.

• Prohibits appraisal management companies from being owned by or employing persons with denied, refused, suspended, or revoked appraiser licenses in any state.

• Changes appraiser removal protections to require written notice and opportunity to respond, eliminating the previous 30-day exception period for newly added appraisers.

• Modifies license revocation procedures to give the commissioner discretion to revoke licenses after proceedings, rather than automatic revocation upon conviction of specified offenses.

• Adds electronic funds transfer to the $20 fine provision for applicants submitting uncollectible payments to the Department of Consumer Protection.

• Clarifies the definition of "potentially hazardous food" to reference the FDA Food Code definition for time and temperature control standards.