SB320 Alabama 2011 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Jimmy Holley
Republican
Session: Regular Session 2011
Title: Real Estate Appraisal Management Companies, licensing and regulation by Real Estate Appraisers Board, Real Estate Appraisers Act, renamed the Alabama Real Estate Appraisers and Appraisal Management Company Registration and Regulation Act, Secs. 34-27A-50 to 34-27A-63, inclusive, added; Secs. 34-27A-1, 34-27A-2, 34-27A-4 am'd. (2011-20503)
Summary: SB320 renames the existing Real Estate Appraisers Act and creates a new framework to register and regulate appraisal management companies in Alabama, including adding an AMC representative to a nine-member board.
What This Bill Does
It designates new Article 1 for real estate appraisers and adds Article 2 to regulate appraisal management companies (AMCs). It requires AMCs to register with the Alabama Real Estate Appraisers Board, sets conditions for registration (including bonds, background checks, and principal contact), and mandates annual renewal and recordkeeping. It also sets standards to protect appraisal independence (no coercion, timely payments, geographic competency) and empowers the board to discipline violators with fines, suspensions, or revocation. Additionally, the board is expanded to include an AMC representative and is given authority to adopt rules and enforce the act, with procedures for hearings and penalties.

Who It Affects
Appraisal Management Companies (AMCs): must register with the board, post a $25,000 bond, maintain records, pay annual fees, designate a principal contact, and ensure appraisers are licensed and geographically competent; they are subject to background checks for owners and can be disciplined for violations.
Real estate appraisers and appraisal staff working for AMCs: must hold Alabama licenses or certifications in good standing, be geographically competent, and work under independence standards; AMCs must ensure timely payments and cannot coerce or influence appraisals.

Key Provisions
Provision 1: Establishes the Alabama Real Estate Appraisers and Appraisal Management Company Registration Act, creating registration requirements for AMCs (including forms, background checks for owners, geographic competency, work reviews, mandatory records, and a $25,000 bond) and a one-year registration term with annual renewals.
Provision 2: Expands the Real Estate Appraisers Board to include a representative of an appraisal management company, grants the board enforcement powers (censure, suspension, or revocation of registration; civil penalties up to $25,000), outlines adjudicatory procedures, and sets rules to ensure appraiser independence and prevent improper influence.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Licenses and Licensing