H 3130 General Bill, By Kirsh and Bailey
 A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section
 40-60-45 so as to provide that a state licensed or state certified real estate
 appraiser is not required for real-estate-related financial transactions which
 are exempted from the appraisal requirement under the regulations of the
 federal banking agencies.

   01/14/93  House  Introduced and read first time HJ-11
   01/14/93  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-11

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 40-60-45 SO AS TO PROVIDE THAT A STATE LICENSED OR STATE CERTIFIED REAL ESTATE APPRAISER IS NOT REQUIRED FOR REAL-ESTATE-RELATED FINANCIAL TRANSACTIONS WHICH ARE EXEMPTED FROM THE APPRAISAL REQUIREMENT UNDER THE REGULATIONS OF THE FEDERAL BANKING AGENCIES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. The 1976 Code is amended by adding:

"Section 40-60-45. Under the provisions of this chapter, a state licensed or state certified real estate appraiser is not required for real-estate-related financial transactions which are exempted from the appraisal requirement under the regulations of the federal banking agencies."

SECTION 2. This act takes effect upon approval by the Governor.