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OK HB2546
Bill
Status
4/26/2016
Primary Sponsor
Glen Mulready
Click for details
AI Summary
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Amends the Oklahoma Appraisal Management Company Regulation Act to add "suspended" credentials to the list of disciplinary actions that disqualify persons from AMC ownership, employment, or contractor relationships
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Requires AMCs to comply with federal appraisal independence requirements under Section 129E(a) through (i) of the Truth in Lending Act (15 U.S.C. Section 1639e)
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Mandates that controlling persons notify the Oklahoma Real Estate Appraiser Board within 10 calendar days of receiving any discipline imposed by another state or federal jurisdiction related to real property valuation activities
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Allows the Board to impose discipline that may be less or more severe than discipline imposed by another jurisdiction, with no collateral attack permitted on the other jurisdiction's decision
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Effective date: November 1, 2016
Legislative Description
Professions and occupations; modifying various provisions of the Oklahoma Appraisal Management Company Regulation Act; effective date.
Last Action
Approved by Governor 04/26/2016
4/26/2016