OK SB1456

Amends the Oklahoma Appraisal Management Company Regulation Act to add "Truth in Lending Act" (TILA) as a defined term and requires appraisal management companies to comply with federal TILA appraisal independence requirements

Requires controlling persons of appraisal management companies to notify the Oklahoma Real Estate Appraiser Board within 10 calendar days of any disciplinary action imposed by another jurisdiction related to real property valuation activities

Adds "suspended" credentials to the list of disqualifying actions that prevent individuals from owning more than 10% of an AMC, serving as controlling persons, or being employed by an AMC

Prohibits collateral attacks on disciplinary decisions from other jurisdictions; the Board may only determine the extent of discipline to impose in Oklahoma, which may be more or less severe than the original discipline

Effective date: November 1, 2016