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Banks Modify Threshold Credentialed Appraiser

Concerning a modification to the threshold below which a bank need not use a credentialed appraiser to appraise property reflected in its balance sheet.
2021 Regular Session
Financial Services & Commerce
Bill Summary

Current law requires a bank to use a certified or licensed appraiser when including property in its financial balance sheet unless the property is initially valued at $250,000 or less. The act deletes the dollar-value limit and changes the exemption to a value consistent with federal requirements and established pursuant to rules of the state banking board.

(Note: This summary applies to this bill as enacted.)


Became Law


Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    07/02/2021 Signed Act PDF
    06/08/2021 Final Act PDF
    05/27/2021 Rerevised PDF
    05/26/2021 Revised PDF
    05/10/2021 Reengrossed PDF
    05/07/2021 Engrossed PDF
    04/22/2021 Introduced PDF

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details