Rep. Angelo Saviano
Filed: 5/10/2011
 
 

 

 

 
09700SB1539ham002LRB097 08574 CEL 55316 a



1
AMENDMENT TO SENATE BILL 1539 




2    AMENDMENT NO. ______. Amend Senate Bill 1539 as follows:


 
3on page 6, line 2, by deleting ", a broker price opinion,"; and 
 
4on page 6, line 11, by replacing "whereby" with "when"; and
 
5on page 7, line 6, by deleting "or"; and
 
6on page 7, line 10, by replacing "scope." with "scope; or"
 
7on page 7, immediately below line 10, by inserting the 
8following:
9        (7) a design professional entity when the appraisal is 
10    not used for
mortgage purposes and the end user client is 
11    an agency of State government or a unit of local 
12    government."; and
 
 
 
09700SB1539ham002- 2 -LRB097 08574 CEL 55316 a

1on page 28, by replacing lines 15 through 23 with the 
2following:
3"of a consumer.  To the extent permitted by federal law or 
4regulation, the

Department shall formulate rules pertaining to 
5customary and reasonable rates of

compensation for fee 
6appraisers.  The appraisal management company must certify

to 
7the Department that it has policies and procedures in place to 
8be in compliance

under the Final Interim Rule of the".