North Carolina Appraiser Background Check Law Passes

[Meandering]

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 651 RATIFIED BILL

*H651-v-5*

AN ACT TO BAR CIVIL ACTIONS FILED AFTER THE PERIOD OF RECORD RETENTION ESTABLISHED UNDER THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE OR FIVE YEARS, WHICHEVER IS GREATER, AND TO REQUIRE APPRAISAL MANAGEMENT COMPANIES TO ACCEPT CRIMINAL BACKGROUND CHECKS PERFORMED WITHIN THE PRECEDING TWELVE MONTHS.

The law:
http://www.ncleg.net/Sessions/2015/Bills/House/PDF/H651v5.pdf

The vote:
http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2015&BillID=H651

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[hastalavista]

Re, Civil Liability, what date does the law go into effect?
I predict bonfires ablazing in 5-years + 1=day.

Re, criminal background checks, that should be a boom for companies like ClearBox, no?
If an appraiser obtained one BC, then all the AMCs would have to accept that (as long as it was current within a year). Can the AMC require an update after one year?
(you may or may not know the answer, but maybe Carnie or some other Tar Heel does. Not that I'm too lazy to read the link.. I will later).

 

[Terrel L. Shields]

I hope this means NC appraisers cannot be sanctioned for things that are decades old. Too many states have laws that basically means you can be sanctioned for things you did in 1992.

 

[Meandering]

Re, Civil Liability, what date does the law go into effect?
I predict bonfires ablazing in 7-years + 1=day.

SECTION 3. This act becomes effective October 1, 2015, and applies to contracts entered into, renewed, or amended on or after that date. Nothing in this act shall be construed as being applicable to or affecting any pending litigation.

In the General Assembly read three times and ratified this the 30th day of July, 2015

http://www.ncleg.net/Sessions/2015/Bills/House/PDF/H651v5.pdf

 

[hastalavista]

SECTION 3. This act becomes effective October 1, 2015, and applies to contracts entered into, renewed, or amended on or after that date. Nothing in this act shall be construed as being applicable to or affecting any pending litigation.

In the General Assembly read three times and ratified this the 30th day of July, 2015

http://www.ncleg.net/Sessions/2015/Bills/House/PDF/H651v5.pdf

Thanks, Marion. A one page bill; Washington DC could learn from that.

I just forwarded it to my AI Chapter's Government Relations Committee. We have an active advocacy group with a paid lobbyist. Maybe this will get some traction in the Golden State.

 

[Meandering]

Agreed.

There is a lot to be said for one page laws.

I like 'em.

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[JTip]

.....for things you did in 1992.

Ahh, '92. That was a good year had by all.

 

[Adios]

Re, Civil Liability, what date does the law go into effect?
I predict bonfires ablazing in 5-years + 1=day.

Re, criminal background checks, that should be a boom for companies like ClearBox, no?
If an appraiser obtained one BC, then all the AMCs would have to accept that (as long as it was current within a year). Can the AMC require an update after one year?
(you may or may not know the answer, but maybe Carnie or some other Tar Heel does. Not that I'm too lazy to read the link.. I will later).

I don't know Denis. It is rather weird. Some AMCs order their own. I don't see how they can demand they not. Some lenders have very specific requirements.

There are State laws that do not permit background checks beyond 7 to 10 years depending on the State.

 

[Meandering]

Tough.

 

[Evincere]

Some AMCs order their own. I don't see how they can demand they not. Some lenders have very specific requirements.
.

And legislatures and state boards should cater too, care or be concerned about the specifics of what some Lenders or AMCs want...........because?

The Bill doesn't "demand" anything of the AMC. It would be up to the Appraiser if they should so choose to have a BC done by a particular AMC, and that that BC would be good for any other AMC contractual or employment purpose. And if the AMC doesn't like I they can go pound sand, or perhaps, elect not to do business in NC if they want or "demand" something different than what the Bill states.

Bottom line - its a business decision for all parties involved as to where the BC originates from - if required and if the Appraisers chooses to provide one to do business. .