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ENGROSSED HOUSE
BILL NO. 1081 By: Tedford of the House
and
Rader of the Senate
An Act relating to professions and occupations;
amending 59 O.S. 2021, Section 858 -732, which relates
to the Oklahoma Certified Real Estate Appraisers Act;
requiring invoice to be included in certain real
property valuations; amending 59 O.S. 20 21, Section
858-818, which relates to the Oklahoma Appraisal
Management Company Regulation Act; modifying invoice
requirements for appraisal services; prohibiting the
removal of invoices; providing penalties ; and
providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 59 O.S. 2021, Section 858 -732, is
amended to read as follows:
Section 858-732. A. All persons listed in paragraph 2 of
subsection A of Section 858 -702 of this title must conduct all real
property valuations and any real property valuation -related activity
in conformance with the following:
1. An appraiser must perform ethically and c ompetently and not
engage in conduct that is unlawful, unethical or improper. An
appraiser who could reasonably be perceived to act as a
disinterested third party in rendering an unbiased real property
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valuation must perform assignments with impartiality, objectivity
and independence and without accommodation of personal interests;
2. The acceptance of compensation that is contingent upon the
reporting of a predetermined value or a direction in value that
favors the cause of the client, the amount of the value estimate,
the attainment of a stipulated result or the occurr ence of a
subsequent event is unethical;
3. The payment of undisclosed fees, commissions or things of
value in connection with the procurement of real property valuation
assignments is unethical;
4. When providing residential appraisal services, an invoice
for service exhibiting compensation to the appraiser must be
included as the first page in all assignments;
5. Advertising for or soliciting appraisal assignments in a
manner which is false, misleading or exaggerated is unethical;
5. 6. An appraiser must protect the confidential nature of the
appraiser-client relationship; and
6. 7. Using or attempting to use the seal, certificate, or
license of another as their own; falsely impersonat ing any duly
licensed appraiser; using or attempting to use an inactive, expired,
suspended, or revoked license; or aiding or abetting any of the
foregoing is unethical.
B. Although this code of ethics is based upon the ethics
provisions of the Uniform St andards of Professional Appraisal
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Practice, it is not the intent of the Legislature to incorporate the
standards set forth in the Uniform Standards of Professional
Appraisal Practice.
SECTION 2. AMENDATORY 59 O.S. 2021, Section 85 8-818, is
amended to read as follows:
Section 858-818. A. An AMC registered under the Oklahoma
Appraisal Management Company Regulation Act shall be required to
have a system in place to disclose to its client the fees paid for
appraisal management servic es and the fees paid to the appraiser for
the completion for an app raisal assignment.
B. An AMC registered under the Oklahoma Appraisal Management
Company Regulation Act that applies for registration in this state
shall accept and shall not prohibit an appraiser that is part of an
appraiser panel of the AMC from including an invoice as an
attachment to the appraisal recording the fee that the appraiser was
paid by the AMC for the performance of the appraisal within the
communication of the appraisal that i s submitted by the appraiser to
the AMC. Any demand by an AMC or its employees to an appraiser to
remove an invoice, or if an AMC or its employees remove an attached
invoice to the appraisal recording fee , showing the appraiser was
paid by the AMC for performance of the appraisal are in violation of
this act and shall be subject to penalties under Section 858-827 of
this title.
SECTION 3. This act shall become effective November 1, 2025.
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Passed the House of Representatives the 13th day of March, 2025.
Presiding Officer of the House
of Representatives
Passed the Senate the ____ day of __________, 2025.
Presiding Officer of the Senate