Thursday, October 15, 2009

Governor Signs California AMC Legislation into Law

UPDATE - 10/15/2009 - Link to additional columns about the legislation

California became the sixth state to enact a framework for the regulation and oversight of appraisal management companies when Governor Arnold Schwarzenegger signed Senate Bill 237 into law on October 11th, 2009. Effective January 1st, 2010, S.B. 237 will require appraisal management companies operating in the state to register with the Office of Real Estate Appraisers. The law also sets forth standards with which an appraisal management company must comply, and provides enforcement authority to OREA.

Read more at the Appraisal Institute Appraiser News Online, or visit Inman News.

UPDATE! - Here's another article with quite a few related links from

The text of the legislation is RIGHT HERE.