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Connecticut appraiser law could shift appraiser requirements
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A bill seeking to make changes to Connecticut’s real estate appraiser and appraisal management company law awaits the signature of Gov. Dannel Malloy.
Senate Bill 205, which was introduced Feb. 19, was sent to the governor May 14. The bill aims to implement the recommendations of the Department of Consumer Protection’s (DCP) Trade Practices Real Estate Unit, as a result of a federal audit conducted by the Appraisal Subcommittee of the federal Financial Institutions Examination Council, and eliminate outdated references to limited appraisers and licensed appraisers. The bill eliminates obsolete references to the limited appraiser and appraiser licenses and makes conforming changes based on their elimination. The DCP stopped issuing or renewing these licenses in 2006 and 2003, respectively.
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