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 Reengrossed 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, regulations, the guidelines for evaluations established by the
federal financial institutions regulatory agency of the depository institution, or a mortgage service
approved to service any federally related mortgage loans.
(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.
The House Floor Amendments to the engrossed bill:
1. Provide that nothing prohibits a licensed real estate appraiser from performing an
evaluation of real property for a federally insured depository institution if the evaluation
is permitted by a mortgage service approved to service any federally related mortgage
loans.