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MS HB686
Bill
Status
3/1/2022
Primary Sponsor
Rob Roberson
Click for details
AI Summary
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Extends the repealer date for appraisal management company registration requirements from July 1, 2022 to July 1, 2026
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Maintains the requirement that appraisal management companies must register with the Mississippi Real Estate Appraiser Licensing and Certification Board before conducting business in the state
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Continues the requirement for applicants to submit a $20,000 surety bond payable to the State of Mississippi to protect against damages from breach of contract or law violations
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Registration applications must include owner information for anyone holding 10% or more of the company, certifications for appraiser verification systems, and compliance with Uniform Standards of Professional Appraisal Practice (USPAP)
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Effective date of July 1, 2022
Legislative Description
Appraisal Management Companies; extend repealer on registration requirements under Mississippi Appraisal Company Act.
Last Action
Died In Committee
3/1/2022