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HB 3261 would amend the Occupations Code relating to the registration and regulation of appraisal management companies, and expanding the applicability of an occupational registration. The Texas Appraiser Licensing and Certification Board would be required to collect the national registry fee and corresponding information from federally regulated appraisal companies. These collected fees would be deposited to the credit of the appraiser registry account in the general revenue fund.
An administrative penalty collected under this section must be deposited in a restricted fund maintained and operated by the board to develop educational programs for appraisers or to conduct studies that enhance consumer protection. The board would be permitted to negotiate a settlement and enter into an agreed order with an appraisal management company or person who is the subject of a complaint.