• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Public Hearing/Testimony is being held 02/28/2008 RE: House Bill 5517

Status
Not open for further replies.

CT Value

Thread Starter
Sophomore Member
Joined
Sep 27, 2005
Professional Status
Certified Residential Appraiser
State
Connecticut
Public Hearing/Testimony is being held on 02/28/2008 RE: House Bill 5517

The following House Bill has been introduced by State Legislator and Certified Real Estate Appraiser, John Harkins. The public hearing/testimony on the proposed Bill will take place on Thursday 02/28/2008 at 10:00am at the Legislative Office Building, Room 2B in Hartford. All interested parties are encouraged to arrive at around 9:00am. Those wishing to testify and or offer their comments will be called in the order in which their name appears on the sign up sheet.

Section 4 of the Bill is the section that pertains to alleviating appraiser pressure but most of all it helps protect Connecticut Consumers from predatory lending practices. (See below)

(4) permitting a party with an interest in a real estate transaction to unduly influence the independent judgment of such certification holder, licensee, limited licensee or provisional licensee as pertains to such transaction;


PLEASE TELL A FELLOW APPRAISER ABOUT THIS BILL AND ASK HIM/HER TO DO THEIR BEST TO ATTEND THE PUBLIC HEARING.


Rob Clermont




General Assembly
Raised Bill No. 5517

February Session, 2008
LCO No. 1663

*01663_______INS*

Referred to Committee on Insurance and Real Estate

Introduced by:

(INS)


AN ACT CONCERNING REAL ESTATE APPRAISERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 20-518 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2008):

The Department of Consumer Protection [may] shall, upon the request of the commission or upon the verified complaint in writing of any person, provided such complaint, or such complaint together with evidence, documentary or otherwise, represented in connection with such complaint, shall make out a prima facie case, investigate the actions of any real estate appraiser or any person who assumes to act in any of such capacities within this state. The commission shall have the power [temporarily] to temporarily suspend or permanently [to] revoke any certification, license, limited license or provisional license, as the case may be, issued under the provisions of sections 20-500 to 20-528, inclusive, and in addition to, or in lieu of, such suspension or revocation, may, in its discretion, impose a fine of not more than one thousand dollars for the first offense at any time when, after proceedings as provided in section 20-519, it finds that the certification holder, licensee, limited licensee or provisional licensee has by false or fraudulent misrepresentation obtained a certification, license, limited license or provisional license, as the case may be, or that the certification holder, licensee, limited licensee or provisional licensee is guilty of any of the following: (1) Making any material misrepresentation; (2) making any false promise of a character likely to influence, persuade or induce; (3) acting for more than one party in a transaction without the knowledge of all parties for whom he or she acts; (4) permitting a party with an interest in a real estate transaction to unduly influence the independent judgment of such certification holder, licensee, limited licensee or provisional licensee as pertains to such transaction; (5) conviction in a court of competent jurisdiction of this or any other state of forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud, or other like offense or offenses, provided suspension or revocation under this subdivision shall be subject to the provisions of section 46a-80; [(5)] (6) any act or conduct which constitutes dishonest, fraudulent or improper dealings; [(6)] (7) a violation of any provision of sections 20-500 to 20-528, inclusive, or any regulation adopted under said sections.


This act shall take effect as follows and shall amend the following sections:

Section 1
October 1, 2008
20-518



Statement of Purpose:

To provide that a real estate appraiser who permits a party with an interest in a real estate transaction to impair such appraiser's independent judgment as pertains to such transaction shall be subject to license suspension or revocation or a fine, or both.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
 
Last edited:
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks