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NC S600

Bill

Status

Passed

6/30/2016

Primary Sponsor

Wesley Meredith

Click for details

Origin

Senate

2015-2016 Session

AI Summary

  • 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.

  • 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.

  • 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.

  • 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

Committee Referrals

Rules, Calendar, and Operations of the House6/15/2016
Banking6/6/2016
Rules, Calendar, and Operations of the House6/24/2015
Transportation6/15/2015
Rules, Calendar, and Operations of the House4/30/2015
Transportation4/13/2015
Rules and Operations of the Senate3/30/2015

Full Bill Text

No bill text available