MI HB5591

Establishes an 18-month statute of limitations for filing complaints against real estate appraiser licensees for violations of appraisal standards, with the clock starting from the alleged violation date, appraisal delivery date, or expert witness delivery date, whichever occurs later

Classifies violation of appraisal standards when the appraiser develops and communicates an appraisal with a predetermined outcome as a misdemeanor punishable by a fine up to $15,000 and/or imprisonment up to 1 year

Specifies that "setting preconditions on the outcome of an appraisal" excludes communication of property-related information necessary to identify the valuation problem and scope of work

Applies to licensees who violate standards for developing or communicating appraisals, fail to maintain required records, perform unlicensed appraisal services, or allow others to use their license

Effective August 21, 2018