1 HB452
2 210269-2
3 By Representative Morris
4 RFD: Boards, Agencies and Commissions
5 First Read: 25-FEB-21
Page 0
 HB452
1
2 ENROLLED, An Act,
3 Relating to appraisers and appraisal management
4 companies; to amend Sections 34-27A-15 and 34-27A-55, Code of
5 Alabama 1975, to specify that a real estate appraiser renewing
6 a real estate appraiser's license must pay any late renewal,
7 application, or filing fees imposed by the board.
8 BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
9 Section 1. Sections 34-27A-15 and 34-27A-55, Code of
10 Alabama 1975, are amended to read as follows:
11 "34-27A-15.
12 "(a)(1) To obtain a renewal license for any real
13 estate appraiser classification, the holder of a current,
14 valid license shall make application and pay the prescribed
15 fee to the board between September 1 and September 30, and
16 shall be delinquent after September 30. With the application
17 for renewal, the licensed real estate appraiser shall present
18 evidence in the form prescribed by the board of having
19 completed the continuing education requirements for renewal
20 specified by the board.
21 "(2) If the board determines that an applicant has
22 failed to meet the requirements for renewal of a license
23 through mistake, misunderstanding, or circumstances beyond the
24 control of the applicant, the board may extend the term of the
25 license for a period not to exceed six months, upon payment by
Page 1
 HB452
1 the applicant of a prescribed fee set by the board for the
2 extension.
3 "(3) If the applicant satisfies the requirements for
4 renewal during the extended term of license, the beginning
5 date of the new renewal license shall be October 1.
6 "(b) If a person fails to renew a license for any
7 classification of real estate appraiser prior to its
8 expiration or within a period of extension granted by the
9 board pursuant to this article, the person may obtain a
10 renewal license by satisfying all of the requirements for
11 renewal and by the payment of a late renewal fee fees as set
12 by the board.
13 "34-27A-55.
14 "(a) The board shall establish by rule fees to be
15 charged to an appraisal management company in an amount
16 sufficient to sustain administration of this article. The
17 board may also establish a late filing fee fees and other fees
18 deemed necessary by the board for the proper administration of
19 this article.
20 "(b) In addition to the application fee fees and
21 late filing fee fees, where applicable, an applicant for
22 registration shall post with the board a surety bond in the
23 amount of twenty-five thousand dollars ($25,000). The bond
24 shall be annually maintained on renewal. The bond shall be in
25 a form prescribed by the board by rule and shall accrue to the
Page 2
 HB452
1 state for the benefit of a claimant against the registrant to
2 secure the faithful performance of obligations under this
3 article. The aggregate liability of the surety may not exceed
4 the principal sum of the bond.
5 "(c) An appropriate deposit of cash or security may
6 be accepted by the board in lieu of the required bond. The
7 face amount of the bond shall annually be restored upon
8 renewal of registration. Annual renewal of registration shall
9 occur before the expiration date of the registration. Failure
10 to timely renew registration shall result in loss of authority
11 to operate an appraisal management company in this state.
12 Request for reinstatement after expiration shall be
13 accompanied by the annual registration fee and any late filing
14 fee established by board rule."
15 Section 2. This act shall become effective on the
16 first day of the third month following its passage and
17 approval by the Governor, or its otherwise becoming law.
Page 3
 HB452
1
2
3
4 Speaker of the House of Representatives
5
6 President and Presiding Officer of the Senate
7 House of Representatives
8 I hereby certify that the within Act originated in
9 and was passed by the House 15-APR-21.
10
11 Jeff Woodard
12 Clerk
13
14
15
16 Senate 17-MAY-21 Passed
17
Page 4