MT HB426

Amends Section 37-54-503, MCA to add "for substantive cause" as a qualifier for license revocations that disqualify individuals from owning appraisal management companies in Montana.

Removes the previous exception that allowed ownership if a revoked license was "subsequently granted or reinstated," making the disqualification permanent for substantive cause revocations.

Prohibits appraisal management company ownership by persons whose appraiser licenses were refused, denied, canceled, revoked for substantive cause, or surrendered in lieu of pending revocation in any state.

Requires appraisal management companies to certify they have reviewed all direct and indirect owners to verify none have disqualifying license actions.

Aligns Montana's appraisal management company registration requirements with federal requirements.