Bill > SB399

This bill authorizes a legislative rule filed by the Real Estate Appraiser Licensing and Certification Board regarding the registration and renewal requirements for appraisal management companies (AMCs). The specific rule, identified as 190 CSR 05, was initially filed on August 30, 2024, and then modified to address concerns raised by the Legislative Rule-Making Review Committee before being refiled on October 7, 2024. The bill grants official approval for these updated requirements, which will govern how appraisal management companies can register and renew their status with the board. An appraisal management company is typically a third-party entity that serves as an intermediary between appraisers and clients, such as mortgage lenders, and this rule will establish the specific administrative and regulatory standards they must meet to operate legally in West Virginia.

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http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=399&year=2025&sessiontype=RS&btype=bill