An Act To Amend the Real Estate Appraisal Management Company Laws

Sec. 1. 32 MRSA §14049-G, sub-§1, ¶M,  as reenacted by PL 2017, c. 475, Pt. D, §1, is amended to read:

Sec. 2. 32 MRSA §14049-I,  as reenacted by PL 2017, c. 475, Pt. D, §1, is amended to read:

§ 14049-I. Appraiser panel management

Except within the first 30 days after an appraiser is added to an appraiser panel, an An appraisal management company may not remove an appraiser from its appraiser panel or otherwise refuse to assign requests for real estate appraisal services to an appraiser without notifying the appraiser in writing and identifying the reasons why the appraiser is being removed from the appraiser panel and providing an opportunity for the appraiser to respond to the notification.

summary

Current law prohibits a real estate appraisal management company from removing, without written notice to the affected appraiser, an appraiser from its appraiser panel except within the first 30 days after the appraiser has been added to the panel. This bill removes the exception that authorizes removal without notice within the first 30 days after being added to the panel.