HB1663: Property data collector; authorize licensure under the Mississippi Real Estate Appraisal Board.

Legislative Summary

An Act To Authorize A Person Licensed As A Property Data Collector To Collect Data For Real Estate And Real Property In The State Of Mississippi For The Purpose Of Providing Such Data To A Licensed Real Estate Appraiser Who Uses The Data In The Course Of Forming An Opinion Of Value For An Identified Parcel Of Real Estate Or Identified Real Property At A Particular Point In Time; To Require That Applications For A Property Data Collector License, Application For Renewal, And Application To Take An Examination Shall Be Made In Writing To The Mississippi Real Estate Appraisal Board; To Provide Certain Requirements For Applicants To Qualify To Be A Licensed Property Data Collector; To Require That An Applicant Be Successfully Cleared For Licensure Through A Background Investigation To Qualify For A Mississippi Property Data Collector License; To Require Licensed Property Data Collectors To Obtain Errors And Omissions Insurance In An Amount That Is No Less Than The Coverage Required For Licensed Real Estate Appraisers; To Require Licensed Property Data Collectors To Complete Twenty-eight Hours Of Continuing Education For Renewal Of A License; To Require A Licensed Property Data Collector To Retain For A Period Of Five Years The Original Or A True Copy Of Each Property Data Collection Report Prepared Or Signed By Such Property Data Collector And All Supporting Data Assembled And Formulated By The Property Data Collector In Preparing Each Such Property Data Collection Report; To Amend Sections 73-34-3, 73-34-5, 73-34-9, 73-34-43, 73-34-47, 73-34-49, 73-34-51, And 73-34-55, Mississippi Code Of 1972, Which Relate To Licensed Real Estate Appraisers And The Mississippi Real Estate Appraisal Board, To Conform To The Preceding Provisions; And For Related Purposes.