Subject: This rulemaking repeals the entire division of
administrative rules that govern the registration and auditing of appraisal
management companies (AMCs). In response to new federal standards for AMCs
contained within the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.
L. 110-203), the Oregon Legislature passed legislation to transfer authority
over AMCs from DCBS to the Oregon Appraiser Certification and Licensure Board.
HB 2499 takes effect on January 1, 2012. Section 6 of the bill states that
DCBS’ rules remain in effect until “superseded or repealed by rules” of the
ACLB. On December 21, 2011, in a special board meeting, the ACLB voted to adopt
rules on a temporary basis that implement the provisions of HB 2499. The rules
adopted by the ACLB become effective as of January 1, 2012. In order to ensure
continuity for regulated entities, the repeal of the rules contained in the
notice will take effect as of January 1, 2012.
Rules Coordinator: Shelley Greiner—(503) 947-7484
Notes 1.) This online version of the OREGON BULLETIN is provided for convenience of reference and enhanced access. The official, record copy of this publication is contained in the original Administrative Orders and Rulemaking Notices filed with the Secretary of State, Archives Division. Discrepancies, if any, are satisfied in favor of the original versions. Use the OAR Revision Cumulative Index found in the Oregon Bulletin to access a numerical list of rulemaking actions after November 15, 2011.