SB18-210
Amend Regulation Of Appraisal Management Companies
| Type | Bill |
|---|---|
| Session | 2018 Regular Session |
| Subjects |
Concerning the regulation of real estate appraisal management companies, and, in connection therewith, aligning state law with current federal law and regulations.
Bill Summary:
Real estate appraisers - appraisal management companies - regulation in accordance with federal law. The act amends the definition of "appraisal management company" to contain all of the elements specified in recent amendments to Title XI of the federal "Financial Institutions Reform, Recovery, and Enforcement Act of 1989" (FIRREA) and regulations adopted in furtherance of FIRREA. In addition, the act adds a definition of "appraiser panel" to include appraisers working as independent contractors. The state board of real estate appraisers is directed to:
- Maintain a separate list of appraisal management companies (AMCs) that have an appraiser panel larger than the federal jurisdictional threshold of 15 appraisers in Colorado or 25 appraisers in all states in which the company operates;
- Require that an AMC establish processes and controls to ensure compliance with the federal "Truth in Lending Act" and applicable federal regulations;
- Collect an annual registry fee from AMCs that operate as subsidiaries of federally regulated financial institutions; and
- Transmit the annual registry fee to the federal financial institutions examinations council.
(Note: This summary applies to this bill as enacted.)
Committees
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee of the Whole. | The motion passed on a vote of 9-4. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee on Appropriations. | The motion passed on a vote of 10-2. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee on Finance. | The motion passed on a vote of 10-3. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee on Appropriations. | The motion passed on a vote of 4-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer Senate Bill 18-210 to the Committee on Finance. | The motion passed on a vote of 6-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/07/2018 | Third Reading | BILL |
41
AYE
24
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/12/2018 | Third Reading | BILL |
35
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 05/29/2018 | Governor | Governor Signed |
| 05/16/2018 | Governor | Sent to the Governor |
| 05/16/2018 | House | Signed by the Speaker of the House |
| 05/15/2018 | Senate | Signed by the President of the Senate |
| 05/07/2018 | House | House Third Reading Passed - No Amendments |
| 05/04/2018 | House | House Second Reading Special Order - Passed - No Amendments |
| 05/04/2018 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 04/30/2018 | House | House Committee on Finance Refer Unamended to Appropriations |
| 04/19/2018 | House | House Committee on Business Affairs and Labor Refer Unamended to Finance |
| 04/17/2018 | House | Introduced In House - Assigned to Business Affairs and Labor |
| 04/12/2018 | Senate | Senate Third Reading Passed - No Amendments |
| 04/11/2018 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 04/10/2018 | Senate | Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 03/29/2018 | Senate | Senate Committee on Finance Refer Unamended to Appropriations |
| 03/28/2018 | Senate | Senate Committee on Business, Labor, & Technology Refer Unamended to Finance |
| 03/19/2018 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
Prime Sponsor
Sponsor
(None)
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/08/2018 | 286 | Amend Regulation Of Appraisal Mgmt Companies |