Bill > HB426

This bill clarifies regulations for appraisal management companies (AMCs) seeking registration in Montana by modifying owner requirements. Specifically, the bill introduces the concept of "substantive cause" when considering past license revocations, allowing for more nuanced evaluation of an owner's eligibility. Under the revised law, an AMC cannot be owned by a person who has had an appraiser license revoked for substantive cause in any state, removing the previous language that allowed for potential reinstatement. The bill requires each company owner to demonstrate good moral character as determined by the board and submit to a background examination. Additionally, the AMC must certify that no direct or indirect owner has had an appraiser license, certificate, or registration refused, denied, canceled, revoked, or surrendered in lieu of a pending revocation in any state. These changes aim to enhance oversight and ensure the integrity of appraisal management companies by implementing more stringent ownership requirements and background checks.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC1511