ND HB1080

Adds a new definition for "federally regulated appraisal management company" as one owned and controlled by an insured depository institution regulated by federal agencies (OCC, Federal Reserve, or FDIC)

Explicitly exempts federally regulated appraisal management companies from state registration requirements under the chapter

Modifies ownership disqualification rules so that appraisal management companies are only barred from registration if an owner's appraiser license was revoked "for a substantive cause" as determined by the board, rather than for any revocation

Changes record retention requirements from permissive ("may") to mandatory ("must") for making records available to the board upon request

Removes the 90-day grace period exemption that previously allowed appraisal management companies to remove new appraisers from panels without prior written notice