MS SB2039

Extends the automatic repeal date for registration requirements of real estate appraisal management companies from July 1, 2022 to July 1, 2026

Maintains existing requirement that appraisal management companies must register with the Mississippi Real Estate Commission before conducting business in the state

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

Preserves registration requirements including verification systems for appraiser licensing, compliance with Uniform Standards of Professional Appraisal Practice (USPAP), and appraisal independence standards

Effective date of July 1, 2022