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Oregon Bulletin

February 1, 2012

 

Department of Consumer and Business Services,
Division of Finance and Corporate Securities
Chapter 441

Rule Caption: Repealing appraisal management company rules to transfer responsibility to the Appraiser Certification and Licensure Board.

Adm. Order No.: FCS 14-2011

Filed with Sec. of State: 12-22-2011

Certified to be Effective: 1-1-12

Notice Publication Date: 11-1-2011

Rules Repealed: 441-674-0005, 441-674-0100, 441-674-0120, 441-674-0130, 441-674-0140, 441-674-0210, 441-674-0220, 441-674-0230, 441-674-0240, 441-674-0250, 441-674-0310, 441-674-0510, 441-674-0520, 441-674-0910, 441-674-0915, 441-674-0920

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 Section 6 of the bill states that DCBS’ rules remain in effect until “superseded or repealed by rules” of the ACLB.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.

2.) Copyright 2012 Oregon Secretary of State: Terms and Conditions of Use

Oregon Secretary of State • 136 State Capitol • Salem, OR 97310-0722
Phone: (503) 986-1523 • Fax: (503) 986-1616 • oregon.sos@state.or.us

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