Representatives of the North Dakota Appraisal Board told the Senate Industry and Business Committee they seek statutory amendments to bring state law governing appraisal management companies into compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and the federal appraisal management company (AMC) rule.

Joe Sheehan, a public member of the North Dakota Real Estate Appraiser Qualifications and Ethics Board, said House Bill 1080 “updates the statutory language with the appraisal management company, otherwise referred to as AMC, statute to bring the statute into compliance with Title XI of FIRREA as amended by the Dodd‑Frank and AMC rule.” He said the state program undergoes periodic federal review by the Appraisal Subcommittee (ASC), which identified areas of noncompliance in its most recent review.

Dave Campbell, executive director for the appraiser board, said the amendments being proposed aim to clarify ownership requirements in the statute so the state’s language matches the federal structure. He described the change as replacing confusing phrasing with language that mirrors federal law on when an individual’s prior disciplinary history bars AMC registration. Campbell said the board consulted with ASC compliance staff and other stakeholders, including REVA and Clear Capital, in drafting the clarifying language.

Jill Beck, CEO of the North Dakota Realtors, told the committee her organization supports bringing the statute into compliance, though she asked for additional time to review the last‑minute clarifications. Committee members discussed the yellow‑highlighted amendments, which focus on ownership interest and whether an appraisal management company is barred from registration if an owner was previously disciplined for “substantive cause” and later reinstated in the jurisdiction where the appraiser was licensed.

No formal vote was taken on House Bill 1080. The committee closed the hearing and directed staff to prepare a consolidated version of the bill that incorporates the clarifying amendments discussed so members can review a single, final text before further action.