A BILL TO BE ENTITLED
AN ACT TO replace north carolina education requirements to become a licensed or certified appraiser with the requirements of the appraisal foundation appraiser qualifications board and to allow the north carolina appraisal board to collect new fees and to make other modifications that would allow north carolina appraisal management companies to be placed on the appraisal management company national registry.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 93E‑1‑6 reads as rewritten:
"§ 93E‑1‑6.  Qualifications for registration, licensure, and certification; applications; application fees; examinations.
(a)	Any person desiring to be registered as a trainee or to obtain licensure or certification as a licensed or certified real estate appraiser shall make written application to the Board on the forms as are prescribed by the Board setting forth the applicant's qualifications for registration, licensure, or certification. Each applicant shall satisfy the following qualification requirements:

	

	

	

	

	

	

	
(5)	Successfully complete education, experience, and examination as required by The Appraisal Foundation Appraiser Qualifications Board for each level of registration, licensure, or certification.
(6)	Satisfy any additional education or experience requirements that the Board may impose by rule.
(b)	Each application for registration as a trainee or for licensure or certification as a real estate appraiser shall be accompanied by a fee of two hundred dollars ($200.00). The applicant shall pay the fee for the required competency examination directly to the private testing service.
	
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(d)	If the applicant has not affirmatively demonstrated that the applicant meets the requirements for registration, licensure, or certification, action on the application will be deferred pending a hearing before the Board."
SECTION 2.  G.S. 93E‑1‑9 reads as rewritten:
"§ 93E‑1‑9.  Nonresident registration, licensure, and certification.
(a)	An applicant from another state which offers real estate appraiser licensing or certification privileges to residents of North Carolina may become licensed or certified in North Carolina by conforming to all of the provisions of this Chapter and, in the discretion of the Board, such other terms and conditions as are required of North Carolina residents applying for licensure or certification in such other state.
(b)	The Board, in its discretion, may undertake to license or certify on a reciprocal basis, persons licensed or certified in another state if the appraiser licensing and certification program of the other state is in compliance with 12 U.S.C. § 3331, et seq.
(c)	The Board may by rule establish a procedure for granting temporary appraiser licensure or certification and may charge an application fee of one hundred fifty dollars ($150.00) for temporary appraiser licensure or certification.
(d)	Every applicant for State licensure, or certification under this Chapter who is not a resident of this State shall submit with his application an irrevocable consent that service of process in any action against the applicant arising out of the applicant's activities as a State‑licensed or State‑certified real estate appraiser may be made by delivery of the process on the Executive Director of the Board."
SECTION 3.  G.S. 93E‑2‑6 is amended by adding two new subsections to read:
"(d)	In addition to those fees prescribed for renewal, the Board shall collect from registrants any additional fees as may be required pursuant to 12 U.S.C. § 3338 to render North Carolina registered appraisal management companies eligible to perform services in connection with federally related transactions and shall remit those fees to the Appraisal Management Company National Registry ("AMC National Registry") of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
(e)	The Board may also collect a fee from an appraisal management company that is a subsidiary wholly owned and controlled by a financial institution in order to be eligible to be placed on the AMC National Registry."
SECTION 4.  G.S. 93E‑2‑7 is amended by adding two new subsections to read:
"(c)	An appraisal management company shall not require or attempt to require an appraiser to prepare an appraisal if the appraiser may have a direct or indirect interest, financial or otherwise, in the property or transaction involving the appraisal.
(d)	No appraisal management company procuring or facilitating an appraisal in connection with a consumer credit transaction secured by the principal dwelling of a consumer may have a direct or indirect interest, financial or otherwise, in the property or transaction involving the appraisal."
SECTION 5.  Section 1, Section 2, and Section 3 of this act become effective October 1, 2019, and apply to registrations, licensures, and certifications issued after that date. The remainder of this act is effective when it becomes law.