SB 955
Modifies various provisions of the Missouri Certified and Licensed Real Estate Appraisers and Appraisal Management Company Regulation Act
LR Number:
Last Action:
4/8/2014 - Voted Do Pass S Financial and Governmental Organizations and Elections Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2014

Current Bill Summary

SB 955 - Under current law, the Missouri Real Estate Appraisers Commission shall consist of seven members appointed by the governor, six of whom are appraisers. This act requires that such members shall not be from the same congressional district. Such members may also not participate in a complaint investigation of a direct competitor.

The act states that any person may file a complaint with the Commission against a licensed appraiser. Upon receipt of the complaint, the Commission must investigate the licensee and notify the complainant that the investigation has been commenced. While the investigation is being conducted, the Commission must inform the complainant of the status of the investigation every sixty days. An investigation shall not last longer than six months.

If the Commission fails to comply with the investigation and notification requirements of the act the Commission must then provide the complainant with a new appraisal of the real estate originally appraised by the licensee under investigation.

This act is similar to HB 2103 (2014) and to provisions contained in the truly agreed to and finally passed version of SB 672 (2014).