SB20-047
Financial Institution Agent Analyses Not Real Estate Appraisal
Concerning an exemption from the definition of a real estate appraisal of analyses prepared by agents of financial institutions for the institutions' internal use only.
Session:
2020 Regular Session
Subject:
Bill Summary
Professions & Occupations
Current law exempts from the definition of a "real estate appraisal" certain analyses prepared by an officer, director, or regularly salaried employee of a financial institution or its affiliate when the analyses are used for internal purposes only. Federal law also exempts such analyses when they are prepared by an agent of a financial institution or its affiliate. The act adds these agents to the list of people who can make these exempt analyses.
(Note: This summary applies to this bill as enacted.)