OK HB2956

Amends the Oklahoma Appraisal Management Company Regulation Act to clarify that AMCs cannot be owned by persons or entities whose appraiser credentials were refused, denied, canceled, suspended, revoked, or surrendered "for substantive cause" (adding this qualifying language)

Removes the National Credit Union Administration from the list of federal regulators overseeing federally regulated AMCs, leaving oversight to the Office of the Comptroller of the Currency, Federal Reserve Board, and FDIC

Eliminates the requirement for federally-regulated AMCs to report ownership limitation information to the Real Estate Appraiser Board, now requiring only information needed for the AMC National Registry fee determination

Makes technical corrections including changing numerical formatting (e.g., "12-month" to "twelve-month") and updating statutory citation formats

Effective date: November 1, 2026