Current Status Introducing Body:House Bill Number:3130 Primary Sponsor:Kirsh Committee Number:26 Type of Legislation:GB Subject:Real estate appraiser, financial transactions Residing Body:House Current Committee:Labor, Commerce and Industry Computer Document Number:EGM/22329.DW Introduced Date:19930114 Last History Body:House Last History Date:19930114 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Kirsh G. Bailey Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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3130 House 19930114 Introduced, read first time, 26
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-60-45 SO AS TO PROVIDE THAT A STATE LICENSED OR STATE CERTIFIED REAL ESTATE APPRAISER IS NOT REQUIRED FOR REAL-ESTATE-RELATED FINANCIAL TRANSACTIONS WHICH ARE EXEMPTED FROM THE APPRAISAL REQUIREMENT UNDER THE REGULATIONS OF THE FEDERAL BANKING AGENCIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 40-60-45. Under the provisions of this chapter, a state licensed or state certified real estate appraiser is not required for real-estate-related financial transactions which are exempted from the appraisal requirement under the regulations of the federal banking agencies."
SECTION 2. This act takes effect upon approval by the Governor.