HB 1081: Professions and occupations; Oklahoma Certified Real Estate Appraisers Act; Oklahoma Appraisal Management Company Regulation Act; disclosure fees; effective date. - Oklahoma

Floor (House) → Floor (Senate) · 3 edits

MINOR

The bill text was converted from the House floor version to the Senate floor version, incorporating amendments made during the legislative process. The substantive policy content remains the same, with changes primarily reflecting formatting updates, committee report additions, and minor text adjustments for Senate floor consideration.

TECHNICAL

Header information was updated to reflect Senate floor version with amended date of April 24, 2025, and changed from 'AS INTRODUCED' to 'ENGROSSED HOUSE BILL'.

Committee report section was added showing the bill was referred to the Committee on Business and Insurance with a recommendation to pass as amended.

Minor text formatting changes occurred throughout the document, including line breaks, spacing, and numbering adjustments to comply with Senate formatting standards.

Engrossed → Floor (House) · 3 edits

MINOR

This bill version was updated from the Engrossed House version to the Floor version, primarily changing the header information and adding a note about committee amendments. The substantive policy content regarding real estate appraiser ethics and invoice requirements remains unchanged.

TECHNICAL

Header changed from 'ENGROSSED HOUSE' to 'HOUSE OF REPRESENTATIVES - FLOOR VERSION' with updated session information

Added note stating 'BOLD FACE denotes Committee Amendments' to indicate where committee changes are located

Page headers updated to reflect floor version format with committee amendment indicators

Introduced → Engrossed · 5 edits · Mar 13, 2025

MODERATE

This bill modifies Oklahoma's real estate appraisal laws to strengthen transparency and ethical standards. Key changes include updating the code of ethics for appraisers, requiring invoices to be included in all residential appraisal services, and prohibiting appraisal management companies from demanding removal of invoices showing appraiser fees. These changes aim to prevent conflicts of interest and ensure clients receive full disclosure of compensation arrangements.

Scope change

The bill applies to all persons conducting real property valuations under Oklahoma law and specifically targets appraisal management companies registered under the Oklahoma Appraisal Management Company Regulation Act.

REQUIREMENT

Updated the code of ethics for appraisers to emphasize impartiality, objectivity, and independence in real property valuation assignments.

Mandated that invoices showing compensation to the appraiser must be included as the first page in all residential appraisal service assignments.

ADDED

Prohibited appraisal management companies from demanding or allowing removal of invoices that show fees paid to appraisers for completed appraisal assignments.

ENFORCEMENT

Added specific penalties for violations related to invoice removal or non-disclosure of appraisal fees.

TIMELINE

Established November 1, 2025 as the effective date for these new requirements.

Professions and occupations; Oklahoma Certified Real Estate Appraisers Act; Oklahoma Appraisal Management Company Regulation Act; disclosure fees; effective date.

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