HB452 Alabama 2021 Session

Summary

Primary Sponsor

TaShina MorrisRepresentative

Democrat

Session

Regular Session 2021

Title

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

Summary

HB452 updates Alabama law to require payment of late renewal, application, or filing fees for real estate appraisers renewing licenses and tightens fee and bonding requirements for appraisal management companies.

What This Bill Does

For real estate appraisers, the bill requires payment of any late renewal, application, or filing fees imposed by the board and allows the board to extend a license term up to six months for renewal issues, with a board‑set extension fee; if renewed during the extension, the new license date is October 1. If renewal isn’t completed, the late renewal fees apply when finally renewing. For appraisal management companies, it lets the board establish registration fees and any late filing or other fees, requires a $25,000 surety bond (or an acceptable cash/security deposit) renewed annually, and ties renewal to maintaining the bond; failure to renew terminates the authority to operate in Alabama, with reinstatement requiring the renewal and any applicable fees.

Who It Affects

• Real estate appraisers renewing licenses — must pay late renewal, application, or filing fees as determined by the board and follow renewal timelines (Sept 1-30 window, with possible Oct 1 renewal if extended).
• Appraisal management companies — must pay registration fees and may owe late filing or other fees; must post and maintain a $25,000 bond (or cash/security deposit) and renew before expiration to keep authority to operate.

Key Provisions

• Amends Section 34-27A-15 to require renewal applications between September 1 and September 30, with delinquency after September 30, and to allow a renewal extension up to six months for renewal issues upon payment of a board‑set extension fee; if renewed during extension, the license date becomes October 1.
• Adds to Section 34-27A-15: if renewal is not completed, the applicant must pay late renewal fees as set by the board when renewing.
• Amends Section 34-27A-55 to authorize the board to establish registration fees and late filing fees for appraisal management companies and other necessary fees.
• Requires AMC registration applicants to post a $25,000 surety bond (or acceptable cash/security deposit), with annual renewal and bond restoration upon renewal; failure to renew ends authority to operate in Alabama; reinstatement requires annual registration fee 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 AppraisersReal Estate Appraisers Board