MO SB579

Repeals and reenacts section 339.1115 of Missouri Revised Statutes relating to exemptions from the appraisal management company registration and regulation act

Removes the requirement that national or state banks, federal or state savings institutions, and credit unions file a notice with the commission when assigning appraisal requests to independent contractor appraisers

Maintains five categories of entities exempt from appraisal management company regulations: appraisal firms, certain financial institutions, appraisers contracting with other appraisers, state agencies and municipalities ordering appraisals, and attorneys and fiduciaries directly contracting with independent appraisers

Eliminates the obligation for exempt financial institutions to provide information to the commission that was previously required under section 339.1110