HB2772 Summary

• Creates the Oklahoma Appraisal Management Company Regulation Act requiring appraisal management companies (AMCs) to register with the Oklahoma Real Estate Appraiser Board before conducting business in the state.

• Establishes registration requirements including submission of company information, ownership details, controlling person identification, and certification of systems to verify appraiser credentials and conduct quality control reviews.

• Prohibits AMCs from influencing appraisals through coercion, withholding payment, promising future business, or conditioning assignments on valuation outcomes; prohibits altering completed appraisals without appraiser consent.

• Sets registration fees at the lesser of the Board's administrative costs or $2,000 annually, valid for one year, with renewal required for continued operation.

• Authorizes the Board to deny registration, suspend, revoke, or impose fines up to $5,000 per violation for violations of the act; provides procedures for complaint filing and disciplinary hearings.