MS HB1286

Increases maximum initial and renewal license fees for real estate appraisers from $325.00 to $425.00, allowing the board to raise fees if necessary for regulation and enforcement.

Sets maximum initial registration fee for appraisal management companies at $2,500.00 and maximum renewal fee at $1,500.00, with delinquent renewal penalty not to exceed 100% of renewal fee.

Requires appraisal management company applicants to submit a $50,000.00 surety bond payable to the State of Mississippi to protect persons damaged by the company's breach of contract or violation of law.

Changes appraisal management company registration period from biennial (two years) to annual (one year).

Allows existing appraisal management companies to continue operating for up to 120 days after a registration process becomes available if not yet in place upon the act's effective date.