Massachusetts H468 amends Chapter 112 to update definitions and requirements for appraisal management companies.

Massachusetts H468 makes corrective changes to Chapter 112 of the General Laws, focusing on the licensing of small appraisal companies. The bill amends definitions, removes references to "managing principal," and updates the process for collecting and remitting fees to the Federal Appraisal Subcommittee. It also specifies that appraisal management companies owned by individuals with revoked or denied licenses are ineligible for registration. The changes aim to align state regulations with federal requirements and improve oversight of appraisal management companies.

Massachusetts H468 amends Chapter 112 to update definitions and requirements for appraisal management companies.

Massachusetts H468 makes corrective changes to Chapter 112 of the General Laws, focusing on the licensing of small appraisal companies. The bill amends definitions, removes references to "managing principal," and updates the process for collecting and remitting fees to the Federal Appraisal Subcommittee. It also specifies that appraisal management companies owned by individuals with revoked or denied licenses are ineligible for registration. The changes aim to align state regulations with federal requirements and improve oversight of appraisal management companies.