SB 155 — An Act relating to the registration and regulation of real estate appraisal management companies; relating to the establishment of fees by the Department of Commerce, Community, and Economic Development; relating to the Board of Certified Real Estate Appraisers; relating to real estate appraisers; and providing for an effective date.

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"AnRelating Act relating to the registration and regulation of real estate appraisal management companies;

and providing for an effective date."date. HOUSE CS FOR CS FOR SENATE BILL NO.

155(L&C)00Enrolled amSB H155 01 "AnRelating Act relating to the registration and regulation of real estate appraisal management 02 companies;

02 relating to the establishment of fees by the Department of Commerce, 03 Community, and 03 Economic Development;

relating to the Board of Certified Real Estate 04 Appraisers;

relating to 04 real estate appraisers;

and providing for an effective date."date. 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:

05 _______________ 06 * Section 1.

08 (d) The board shall provide a copy of a registration under this section to the 09 Appraisal Subcommittee established under 12 U.S.C.

1813 and regulated by the United States Comptroller of the Currency, the 12 Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance 13 Company,Corporation, shall annually submit to the board information that the board is required to 14 to submit to the Appraisal Subcommittee established under 12 U.S.C.

3310, including 15 a 1516 (1) report of intent to operate in the state;

and 1617 (2) disclosure of whether the company is directly or indirectly owned 1718 in whole or in part by any person that has had a certificate to act as a real estate 1819 appraiser denied, cancelled, suspended, revoked, put on probation, or surrendered in 1920 lieu of a pending revocation in any state.

2021 (b) If a person has had disciplinary action taken against the person under 2122 (a)(2) of this section, the board shall collect information related to whether the 2223 certificate to act as a real estate appraiser was denied, cancelled, suspended, revoked, 2324 put on probation, or surrendered in lieu of a pending revocation for a substantive cause 2425 and whether the person has later had the certificate to act as a real estate appraiser 2526 reinstated by the same state.

2627 Sec.

AS 08.87.130 - 08.87.150, 08.87.215, and 2728 08.87.220 do not apply to a 2829 (1) person who is employed by a department or division of an entity 2930 that provides appraisal management services only to that entity;

3031 (2) real estate appraisal management company that is 31 (A) owned and controlled by an insured depository institution;

02 and 0203 (B) regulated by the Consumer Financial Protection Bureau, 0304 the Federal Housing Finance Agency, the Board of Governors of the Federal 0405 Reserve System, the Federal Deposit Insurance Corporation, the United States 0506 Comptroller of the Currency, or the National Credit Union Administration;

or 0607 (3) real estate appraiser who enters into an agreement with another real 0708 estate appraiser for the performance of an appraisal that upon completion results in a 0809 report signed by both the real estate appraiser who completed the appraisal and the 0910 real estate appraiser who requested completion of the appraisal.

1011 * Sec.

1112 Sec.

real estate appraisal management 1213 companies.

(a) A real estate appraisal management company may not, while 1314 registered in the state, retain or enter into a business relationship with an employee, 1415 contractor, or agent whose certificate to act as a real estate appraiser is denied, 1516 cancelled, suspended, revoked, put on probation, or surrendered in lieu of a pending 1617 revocation in any state unless the employee, contractor, or agent has later had a 1718 certificate to act as a real estate appraiser granted or reinstated by the same state.

1819 (b) A real estate appraisal management company or a controlling person, 1920 employee, director, officer, or agent of a real estate appraisal management company 2021 may not 2122 (1) seek to influence a real estate appraiser through intimidation, 2223 coercion, extortion, or bribery;

2324 (2) condition payment of an appraisal fee on a real estate appraiser's 2425 opinion, conclusion, or valuation;

2526 (3) request that a real estate appraiser report a predetermined opinion, 2627 conclusion, or valuation;

2728 (4) alter, amend, or change an appraisal report submitted by a real 2829 estate appraiser without the real estate appraiser's written consent;

2930 (5) require a real estate appraiser to sign an indemnification agreement 3031 for a claim that does not arise from a service performed by the real estate appraiser;

31 (6) prohibit an appraiser from recording in the body of the report 02 submitted by the appraiser to the appraisal management company the fee that the 0203 appraiser was paid by the company for the performance of the appraisal;

0304 (7) prohibit lawful communication between a real estate appraiser and 0405 any other person who the real estate appraiser determines possesses information 0506 relevant to the appraisal;

0607 (8) engage in an act or practice with intent to impair a real estate 0708 appraiser's independence, objectivity, and impartiality;

0809 (9) knowingly make a false statement, submit false information, or fail 0910 to provide complete information in response to a question in an application for 1011 registration or renewal of a registration;

or 1112 (10) violate this chapter or a regulation adopted under this chapter.

1213 Sec.

real estate appraisal 1314 management companies.

The board may take disciplinary action under AS 08.01.075 1415 or suspend or revoke a registration of a real estate appraisal management company if it 1516 finds that the 1617 (1) company or a controlling person, employee, director, officer, or 1718 agent of a real estate appraisal management company has violated a provision of this 1819 chapter or a regulation adopted by the board under this chapter;

1920 (2) company or a controlling person of the company has had a 2021 certificate to act as a real estate appraiser or a registration as a real estate appraisal 2122 management company denied, cancelled, suspended, revoked, put on probation, or 2223 surrendered in lieu of a pending revocation in any state;

2324 (3) company fails to comply with the Uniform Standards of 2425 Professional Appraisal Practice under 12 U.S.C.

2526 (4) company performs appraisal management services in a manner that 2627 causes injury or loss to the public;

2728 (5) company has ceased to operate in the state as a real estate appraisal 2829 management company;