Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. PCS (138190) for CS for SB 608
       
       
       
       
       
       
                                Ì963650$Î963650                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/02/2015           .                                
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       The Committee on Fiscal Policy (Stargel) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 107 - 122
    4  and insert:
    5  licensed, or certified under this part or an appraisal
    6  management company registered under this part shall prepare and
    7  retain a work file for each appraisal, appraisal review, or
    8  appraisal consulting assignment. An appraisal management company
    9  registered under this part shall prepare and retain an order
   10  file for each appraisal, appraisal review, or appraisal
   11  consulting assignment. The work file and the order file shall be
   12  retained, for 5 years or the period specified in the Uniform
   13  Standards of Professional Appraisal Practice, whichever is
   14  greater. The work file must contain, original or true copies of
   15  any contracts engaging the appraiser’s or appraisal management
   16  company’s services, appraisal reports, and supporting data
   17  assembled and formulated by the appraiser or company in
   18  preparing appraisal reports or engaging in appraisal management
   19  services and all other data, information, and documentation
   20  required by the standards for the development or communication
   21  of a real estate appraisal as approved and adopted by the
   22  Appraisal Standards Board of The Appraisal Foundation, as
   23  established by rule of the board. The order file must contain
   24  original or true copies of any contracts engaging the
   25  appraiser’s services, the appraisal reports, any engagement
   26  materials or instructions from the client, and all other
   27  documents required by the standards for the development or
   28  communication of a real estate appraisal as approved and adopted
   29  by the Appraisal Standards Board of The Appraisal Foundation, as
   30  established by rule of the board. Notwithstanding the foregoing,
   31  while general contracts and materials pertaining to impaneling
   32  of an appraiser by an appraisal management company shall be
   33  retained under this section, such contracts and materials are
   34  not required to be maintained within the order file. Except as
   35  otherwise specified
   36  
   37  ================= T I T L E  A M E N D M E N T ================
   38  And the title is amended as follows:
   39         Delete lines 19 - 21
   40  and insert:
   41         file in certain circumstances; requiring an appraisal
   42         management company to prepare and retain an order file
   43         in certain circumstances; requiring the work file and
   44         the order file to be retained for a specified period;
   45         requiring the work file and the order file to contain
   46         certain data, information, and documentation;
   47         requiring