ND SB2075

Changes exemption threshold for appraisal management companies from "not more than fifteen" to "not fewer than sixteen" certified or licensed appraisers in North Dakota, or from "fewer than twenty-five or more" to "fewer than twenty-five or more" nationally within a given year.

Clarifies ownership restrictions by specifying appraisal management companies may not be more than ten percent owned by individuals or entities with refused, denied, canceled, revoked, or surrendered appraiser licenses in any state, unless subsequently granted or reinstated.

Requires each appraisal management company to certify to the board that it has reviewed all entities owning more than ten percent of the company and confirmed no such entities are more than ten percent owned by individuals with disciplinary actions against their appraiser licenses.

Requires individuals owning more than ten percent of an appraisal management company to be of good moral character and submit to criminal background investigations for initial applications or as required by the board.

Specifies that employees or independent contractors performing appraisal reviews for properties in North Dakota must be certified or licensed appraisers in good standing in either North Dakota or another state.