GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2015

H                                                                                                                                                   3

HOUSE BILL 651

Committee Substitute Favorable 4/27/15

Senate Judiciary I Committee Substitute Adopted 7/23/15

Short Title:        Appraisal Bd. Recordkeeping & Bkgrd. Checks.	(Public)
Sponsors:
Referred to:

April 14, 2015

A BILL TO BE ENTITLED

AN ACT to bar civil actions filed after the period of record retention established under the uniform standards of professional appraisal practice or five years, whichever is greater, and to require appraisal management companies to accept criminal background checks performed within the preceding twelve months.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 1‑51 is amended by adding a new subdivision to read:

"(3) Notwithstanding G.S. 1‑52(9) or any other provision of law, no suit, action, or proceeding shall be brought or maintained against a real estate appraiser, general real estate appraiser, or appraiser trainee who is licensed, certified, or registered pursuant to Chapter 93E of the General Statutes, unless the suit, action, or proceeding is commenced within (i) five years of the date the appraisal was performed or (ii) until the applicable time period for retention of the work file for the appraisal giving rise to the action as established by the Recordkeeping Rule of the Uniform Standards of Professional Appraisal Practice has expired, whichever is greater."

SECTION 2.  G.S. 93E‑2‑4 is amended by adding a new subsection to read:

"(h) A registered appraisal management company that requires a real estate appraiser to submit to a criminal background check as a condition of employment, contractual relationship, or access to an appraisal portal shall accept a criminal background check that has been performed within the preceding 12 months and that substantially conforms to the criminal history record check required under G.S. 93E‑2‑11."

SECTION 3.  This act is effective when it becomes law. Nothing in this act shall be construed as being applicable to or affecting any pending litigation.