Appraisal management companies; appraiser compensation. (SB1445)

Introduced By

Sen. Steve Martin (R-Chesterfield)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Appraisal management companies; payment of fees to appraisers; disclosure. Provides for an appraisal management company to compensate appraisers at a rate that is customary and reasonable for appraisals being performed in the market area of the property being appraised. The bill also requires an appraisal management company to provide a separate statement to the client disclosing (i) the fees paid to an appraiser for appraisal services and (ii) the fees charged by the appraisal management company for services associated with the management of the appraisal process. Read the Bill »


Bill Has Passed


01/23/2015Presented and ordered printed
01/23/2015Presented and ordered printed 15103447D
01/23/2015Referred to Committee on General Laws and Technology
01/29/2015Impact statement from DPB (SB1445)
02/09/2015Committee substitute printed 15104884D-S1
02/09/2015Reported from General Laws and Technology with substitute (10-Y 0-N) (see vote tally)
02/10/2015Read second time
02/10/2015Reading of substitute waived
02/10/2015Committee substitute agreed to 15104884D-S1
02/10/2015Engrossed by Senate - committee substitute SB1445S1
02/10/2015Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/10/2015Passed Senate (38-Y 0-N) (see vote tally)
02/12/2015Placed on Calendar
02/12/2015Read first time
02/12/2015Referred to Committee on General Laws
02/13/2015Assigned GL sub: Subcommittee #1
02/13/2015Impact statement from DPB (SB1445S1)
02/17/2015Subcommittee recommends reporting (6-Y 0-N)
02/17/2015Reported from General Laws (20-Y 0-N) (see vote tally)
02/18/2015Read second time
02/19/2015Read third time
02/19/2015Passed House (98-Y 1-N 1-A)
02/19/2015VOTE: PASSAGE (98-Y 1-N 1-A) (see vote tally)
02/24/2015Bill text as passed Senate and House (SB1445ER)
02/24/2015Signed by Speaker
02/25/2015Impact statement from DPB (SB1445ER)
02/26/2015G Governor's Action Deadline Midnight, Monday, March 30, 2015
02/26/2015Signed by President
02/26/2015Enrolled Bill Communicated to Governor on 2/26/15
02/26/2015G Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/23/2015G Approved by Governor-Chapter 422 (effective 7/1/15)
03/23/2015G Acts of Assembly Chapter text (CHAP0422)