2019 Regular Session ENROLLED
SENATE BILL NO. 191
BY SENATOR CHABERT
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
1 AN ACT
2 To enact R.S. 9:5610, relative to civil liability for damages; to provide for peremption of
3 actions for damages against real estate appraisers, appraisal management companies,
4 and real estate appraisal companies; to provide for a prescriptive period for such
5 actions; to provide for applicability; to provide for exceptions; and to provide for
6 related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 9:5610 is hereby enacted to read as follows:
9 ยง5610. Actions against real estate appraisers, appraisal management
10 companies, and real estate appraisal companies; prescriptive and
11 peremptive periods
12 A. No action for damages against any real estate appraiser or appraisal
13 management company duly licensed under the laws of this state, or against any
14 real estate appraisal company, whether based in tort, breach of contract, or
15 otherwise arising out of an agreement to perform real estate appraisal services
16 or appraisal management company services, shall be brought unless filed in a
17 court of competent jurisdiction and proper venue within one year from the date
18 of the act, omission, or neglect, or within one year from the date that the alleged
19 act, omission, or neglect is discovered or should have been discovered; however,
20 even as to actions filed within one year from the date of such discovery, in all
21 events such actions shall be filed at the latest within three years from the date
22 of the act, omission, or neglect.
23 B. The provisions of this Section are remedial and apply to all causes of
24 action without regard to the date when the alleged act, omission, or neglect
25 occurred. However, with respect to any alleged act, omission, or neglect
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 191 ENROLLED
1 occurring prior to August 1, 2019, actions shall, in all events, be filed in a court
2 of competent jurisdiction and proper venue on or before August 1, 2020,
3 without regard to the date of discovery of the alleged act, omission, or neglect.
4 The one-year period of limitation provided in Subsection A of this Section is
5 prescriptive within the meaning of Civil Code Article 3447. The three-year
6 period of limitation provided in Subsection A of this Section is a peremptive
7 period within the meaning of Civil Code Article 3458 and, in accordance with
8 Civil Code Article 3461, may not be renounced, interrupted, or suspended.
9 C. Notwithstanding any other law to the contrary, the prescriptive and
10 peremptive period in all actions brought in this state against any real estate
11 appraiser, appraisal management company, or real estate appraisal company
12 shall be governed exclusively by the provisions of this Section.
13 D. The prescriptive period provided in Subsection A of this Section shall
14 not apply in cases of fraud, as defined in Civil Code Article 1953.
15 E. The prescriptive period provided in Subsection A of this Section shall
16 not apply to any proceedings initiated by the Louisiana Real Estate Appraisers
17 Board.
18 Section 2. This Act shall not affect any action filed prior to the effective date of this
19 Act.
20 Section 3. This Act shall become effective January 1, 2020.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.