HB21-1293
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.
Session:
2021 Regular Session
Subject:
Bill Summary
Financial Services & Commerce
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.)