SB 774 Summary

• Amends Section 858-825 of Oklahoma law effective January 1, 2011 regarding the Oklahoma Real Estate Appraiser Board's authority over appraisal management companies.

• Grants the Board authority to deny issuance or renewal of registration to applicants on grounds enumerated in the Oklahoma Appraisal Management Company Regulation Act, provided a hearing is held first.

• Specifies that denials may only occur "after the hearing" rather than before, adding procedural protections for applicants.

• Declares an emergency necessity for the act, making it effective immediately upon passage and approval.