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NC S600
Bill
AI Summary
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Requires appraisal management companies to compensate appraisers in compliance with section 129E(i) of the federal Truth in Lending Act for appraisals of property secured by a consumer's principal dwelling, effective January 1, 2017.
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Authorizes the Appraisal Board to adopt rules establishing customary and reasonable appraisal rates based on objective third-party information such as academic studies and independent surveys.
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Establishes failure to compensate appraisers in compliance with these requirements as grounds for the Board to deny, suspend, revoke, or refuse to issue or renew an appraisal management company's registration.
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Allows United States Supreme Court Justices and United States Court of Appeals Judges to solemnize marriages in North Carolina during the period of July 2, 2016 through July 5, 2016.
Legislative Description
Appraiser Compensation/Judge Perform Marriage
Last Action
Ch. SL 2016-61
6/30/2016