AN ACT to create and enact a new section to chapter 43-23.3 of the North Dakota Century Code, relating to evaluations conducted by appraisers; and to amend and reenact sections 43-23.3-01, 43-23.3-04, and 43-23.3-18 of the North Dakota Century Code, relating to the definitions of agency and evaluation, an exemption from appraisal permit requirements, and the standards of professional appraisal practice.
House Bill No. 1354 amends and enacts provisions related to appraisals and evaluations in North Dakota. It updates definitions within the North Dakota Century Code, specifically addressing the roles and requirements for appraisers, including apprentice, licensed, and certified appraisers. The bill introduces a new section allowing appraisers to conduct evaluations under certain conditions, distinguishing them from formal appraisals and ensuring compliance with federal and state regulations.
The bill impacts the regulatory framework governing appraisers in North Dakota by clarifying the definitions of appraisal and evaluation, and by allowing appraisers to perform evaluations without needing a separate permit, provided they adhere to specified guidelines. This change aims to streamline the appraisal process and reduce regulatory burdens while maintaining standards of practice.
The sentiment surrounding HB1354 appears to be largely positive, as indicated by the overwhelming support in the House and Senate votes, with only a few dissenting votes. The discussions suggest a recognition of the need for updated regulations to reflect current practices in the appraisal industry.
Notable points of contention include concerns from some stakeholders about the potential for confusion between appraisals and evaluations, particularly regarding the qualifications required for each. Some members of the committee expressed worries about ensuring that evaluations remain distinct from appraisals to maintain the integrity of the appraisal process.