HB309 Alabama 2020 Session

Summary

Primary Sponsor

Kelvin LawrenceRepresentative

Democrat

Session

Regular Session 2020

Title

Real Estate Appraisers, appraisal management companies, to change renewal license fees, Secs.34-27A-15, 34-27A-55 am'd.

Summary

HB309 requires real estate appraisers renewing licenses to pay any late renewal, application, or filing fees, and adds bond and fee requirements for appraisal management companies registering in Alabama.

What This Bill Does

If passed, the bill makes license renewals for real estate appraisers require payment of any late renewal, application, or filing fees imposed by the board. It maintains a September renewal window with a late- renewal pathway and allow extensions for up to six months, with a prescribed extension fee. For appraisal management companies, the bill lets the board set necessary administration fees, requires a $25,000 bond (or cash deposit) at registration and renewals, and ties renewal to maintaining the bond; failure to renew ends the authority to operate and reinstatement requires paying annual registration and any late filing fees.

Who It Affects

• Real estate appraisers renewing their licenses: must pay any late renewal, application, or filing fees in addition to the standard renewal fee.
• Appraisal management companies (AMCs): must pay board-imposed registration and related fees, and post a $25,000 surety bond (or cash) to operate in Alabama; must renew the bond annually and maintain it to keep registration active.

Key Provisions

• Amend 34-27A-15 to require license renewal applicants to pay any late renewal, application, or filing fees imposed by the board.
• Maintain renewal timing: renew between September 1-30, with delinquency after September 30; allow extensions up to six months for certain renewal issues with a board-prescribed extension fee; if renewed during extension, renewal date starts October 1.
• If renewal is not completed by expiration or extended period, late renewal fees apply to obtain renewal.
• Amend 34-27A-55 to let the board establish fees for appraisal management companies to fund administration and to set other related fees, including late filing fees.
• Require AMCs to post a $25,000 surety bond (or acceptable cash deposit) at registration and on renewal; bond protects claimants and the board’s scope; bond amount is restored with annual renewal; failure to renew results in loss of authority to operate; reinstatement requires payment of annual registration and any late filing fees.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Real Estate Appraisers