All Roll Calls
Yes: 228 • No: 0
North DakotaHB 10802025 Regular SessionHouseWALLET
AN ACT to amend and reenact sections 43-23.5-01, 43-23.5-07, 43-23.5-08, and 43-23.5-15 and subsection 6 of section 43-23.5-21 of the North Dakota Century Code, relating to the regulation of appraisal management companies.
Sponsored By: House Industry, Business and Labor
Became Law
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
Notice before dropping panel appraisers
After an independent appraiser has been on a panel for 90 days, an AMC must give prior written notice to remove them. When it applies, the notice must include evidence of illegal conduct, a USPAP or rule violation, or improper or unprofessional conduct.
Who is exempt from AMC rules
Some groups do not have to follow this chapter. You are exempt if you are an appraisal firm that only employs staff appraisers. You are exempt if your panel has fewer than 16 North Dakota appraisers or fewer than 25 nationwide in a year. Subsidiary AMCs owned and controlled by banks can be exempt when the bank follows strong appraisal independence rules. Federally regulated AMCs or financial institutions are exempt. Deals where the report is jointly signed by the doing appraiser and the requesting appraiser are also exempt. A federally regulated AMC is one owned by an insured depository institution and overseen by the OCC, Federal Reserve, or FDIC.
AMCs must keep and share records
To register or renew, an AMC must certify it keeps a detailed record of every North Dakota appraisal service request. Registered AMCs must keep all required records for five years. The five-year clock starts at the company’s final action on the job, or when any lawsuit over it is finally done. The board can inspect and copy these records after giving reasonable notice.
Stricter owner checks for AMCs
An AMC cannot be owned, even partly, by someone whose appraiser license was refused, canceled, surrendered in lieu of revocation, or revoked for a substantive cause and not reinstated. Anyone who owns more than 10% must be of good moral character and complete a criminal background check for an initial application or when the board requires it. The company must certify, on a board form, that it checked all entity owners and found no disqualified owners. There is an exception: if an owner-appraiser’s issue was not a substantive revocation, the AMC is not automatically barred.
Who counts as an AMC
The law explains who is an appraisal management company. A company is an AMC if it manages more than 15 licensed appraisers in North Dakota in a year, or 25 nationwide. Tasks like recruiting appraisers, setting fees, managing orders, and quality checks count as appraisal management services. An appraisal review means giving an opinion on another appraiser’s work, not simple grammar or completeness checks. It also defines an appraiser panel, who is a controlling person, and the kinds of real estate financial deals covered.
Sponsors & Cosponsors
Sponsor
House Industry, Business and Labor
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 3/18/2025
Second reading, passed, yeas 93 nays 0
Yes: 93 • No: 0
Senate vote • 3/10/2025
Second reading, passed as amended, yeas 45 nays 0
Yes: 45 • No: 0
House vote • 1/17/2025
Second reading, passed, yeas 90 nays 0
Yes: 90 • No: 0
Actions Timeline
Filed with Secretary Of State 03/26
3/27/2025HouseSigned by Governor 03/25
3/26/2025HouseSent to Governor
3/24/2025HouseSigned by Speaker
3/24/2025HouseSigned by President
3/21/2025SenateSecond reading, passed, yeas 93 nays 0
3/18/2025HouseConcurred
3/18/2025HouseReturned to House (12)
3/11/2025HouseSecond reading, passed as amended, yeas 45 nays 0
3/10/2025SenateAmendment adopted, placed on calendar
3/7/2025SenateReported back amended, do pass, amendment placed on calendar 5 0 0
3/7/2025SenateCommittee Hearing 03:30
2/17/2025SenateIntroduced, first reading, referred Industry and Business Committee
2/5/2025SenateReceived from House
1/20/2025SenateSecond reading, passed, yeas 90 nays 0
1/17/2025HouseReported back, do pass, placed on consent calendar 14 0 0
1/10/2025HouseCommittee Hearing 01:30
1/8/2025HouseIntroduced, first reading, referred Industry, Business and Labor Committee
1/7/2025House
Bill Text
Adopted by the Senate Industry and Business Committee
Enrollment
HOUSE BILL NO. 1080 with Senate Amendments
INTRODUCED
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