General Assembly Proposed Bill No. 5432
January Session, 2017 LCO No. 691
*00691*
Referred to Committee on GENERAL LAW
Introduced by:
REP. DAVIS C., 57th Dist.
General Assembly
Proposed Bill No. 5432
January Session, 2017
LCO No. 691
*00691*
Referred to Committee on GENERAL LAW
Introduced by:
REP. DAVIS C., 57th Dist.
AN ACT CONCERNING PAYMENT FOR A COMPLETED APPRAISAL OR VALUATION ASSIGNMENT.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 20-529b of the general statutes be amended to (1) establish procedures for payment of an appraiser by an appraisal management company for a completed appraisal or valuation assignment, including the submission of invoices by appraisers and determination of reasonable fees for the services provided, and (2) shorten the time frame for such payment from forty-five days to fourteen days.
Statement of Purpose:
To establish procedures for payment of an appraiser by an appraisal management company for a completed appraisal or valuation assignment and to shorten the time frame for such payment from forty-five days to fourteen days.