HLS 19RS-870 ENGROSSED
2019 Regular Session
HOUSE BILL NO. 340
BY REPRESENTATIVE HOLLIS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
REAL ESTATE/APPRAISERS: Provides relative to real estate appraisers
1 AN ACT
2To amend and reenact R.S. 37:3410(A) and to enact R.S. 37:3392(14), relative to real estate
3 appraisers; to provide definitions regarding financial regulations; to provide for
4 standards for the development and communication of real estate appraisers; to
5 provide for an appraisal of real property for a federally insured depository institution;
6 and to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 37:3410(A) is hereby amended and reenacted and R.S. 37:3392(14)
9is hereby enacted to read as follows:
10 §3392. Definitions
11 As used in this Chapter, the following words have the meaning ascribed to
12 them in this Section unless the context clearly indicates otherwise:
13 * * *
14 (14) "Federal financial institutions regulatory agency" means:
15 (a) The Board of Governors of the Federal Reserve System.
16 (b) The Federal Deposit Insurance Corporation.
17 (c) The Office of the Comptroller of the Currency.
18 (d) The National Credit Union Administration.
19 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 19RS-870 ENGROSSED
HB NO. 340
1 §3410. Standards for the development and communication of real estate appraisals
2 A.(1) A licensed real estate appraiser shall comply with generally accepted
3 standards of professional practice in the development and communication of
4 appraisals of real estate located in this state and with generally accepted ethical rules
5 of conduct as contained in the "Uniform Standards of Professional Appraisal
6 Practice", or its successor, as approved by the Appraisal Standards Board of the
7 Appraisal Foundation or its successor.
8 (2) Nothing in this Chapter shall prohibit a licensed real estate appraiser
9 from performing an evaluation of real property for a federally insured depository
10 institution if the evaluation is permitted by either federal law, regulation, or the
11 guidelines for evaluations established by the federal financial institutions regulatory
12 agency of the depository institution.
13 * * *
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 340 Engrossed 2019 Regular Session Hollis
Abstract: Provides with respect to real estate appraisals and federal financial institutions.
Present law provides definitions relative to the Louisiana Real Estate Appraisers Law.
Proposed law retains present law and adds a definition for "federal financial institutions
regulatory agency".
Present law requires that licensed real estate appraisers comply with professional standards
of practice in the development and communication of appraisals.
Proposed law retains present law.
Proposed law provides that nothing in present law prohibits a licensed real estate appraiser
from performing an evaluation of property for a federally insured depository institution if
the appraisal is conducted pursuant to applicable law and regulations.
(Amends R.S. 37:3410(A); Adds R.S. 37:3392(14))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Commerce to the
original bill:
1. Make a technical change.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.