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2015 SESSION

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15104884D
SENATE BILL NO. 1445 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee on General Laws and Technology on February 9, 2015) (Patron Prior to Substitute--Senator Martin) A BILL to amend the Code of Virginia by adding a section numbered 54.1-2022.1, relating to appraisal management companies; appraiser compensation.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 54.1-2022.1 as follows:

§ 54.1-2022.1. Appraiser compensation.

An appraisal management company shall compensate appraisers in compliance with § 129E(i) of the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder.