HF1960 Summary

• Amends investment adviser definition to include federal covered investment advisers under securities law
• Adds exemption for individuals offering or negotiating residential mortgage loans under temporary federal authority granted by the Economic Growth, Regulatory Relief, and Consumer Protection Act
• Changes adjuster license renewal requirement from annual to every two years, with penalty of double the unpaid renewal fee for late renewal
• Reduces timeframe for adjusters and certain registrants to notify the commissioner of address or legal name changes from 30 days to 10 days
• Changes reference in appraisal standards from subdivision 31 to subdivision 26 and clarifies various public records and confidentiality provisions under securities administration