The bill amends Section 37-54-503 of the Montana Code Annotated to clarify the ownership requirements for appraisal management companies applying for registration in the state. It specifies that such companies cannot be owned by individuals or entities that have had their appraiser licenses or certificates revoked, canceled, or surrendered for substantive cause in any state. The previous language that allowed for ownership if the license was subsequently granted or reinstated has been removed.

Additionally, the bill mandates that each owner of an appraisal management company must be of good moral character, as determined by the board, and must undergo a background examination. The appraisal management company is also required to certify that it has reviewed the ownership structure to ensure compliance with these new provisions regarding license revocations.

Statutes affected:
LC Text: 37-54-503
HB0426_1(1): 37-54-503
HB0426_1(2): 37-54-503
HB0426_1(3): 37-54-503
HB0426_1(4): 37-54-503
HB0426_1: 37-54-503
HB0426_2: 37-54-503
HB0426_X(1): 37-54-503
HB0426_X(2): 37-54-503
HB0426_X(3): 37-54-503
HB0426_X(4): 37-54-503
HB0426_X(5): 37-54-503
HB0426_X(6): 37-54-503
HB0426_X(7): 37-54-503
HB0426_X(8): 37-54-503
HB0426_X(9): 37-54-503
HB0426_X: 37-54-503