On Mar. 4, WV LEG passed bill on appraiser background check fee.
WV LEG passed HB 5569 requiring appraiser to pay for background check required by the appraisal management company (AMC) to be added to AMCs panel of appraisers.
The bill amends WV LEG 30-38A-15Prohibited acts, relating to AMC registration act.
Bill Provisions
An AMC may not require appraisers to pay the fee for background check that is required by the AMC as a condition of being added to the AMCs panel of appraisers.
Legislative History
On Feb. 12, 2024, bill was introduced in House; on Feb. 23, 2024, bill passed House.
On Feb. 26, 2024, bill was introduced in Senate; on Mar. 4, 2024, bill passed Senate.
Effectiveness
If enacted, bill would become effective 90 days from Mar. 4 passage, Jun. 2, 2024.
Mar. 2024 WV LEG Governor Approval
On Mar. 27, 2024, WV LEG bill HB 5569 approved by governor, effective Jun. 2, 2024.
Regulators
WV LEG
Entity Types
CNSM; Corp
Reference
Bill, 3/27/2024; Bill, HB5569, 3/4/2024; Citation: WV LEG 30-38A-15;
Functions
Actuarial and Valuation; Compliance; Financial; Legal; Registration/Licensing
