Texas Appraiser Licensing and Certification Board (TALCB) adopts amendments to §159.1, Definitions; §159.3, Appraisal Management Company Advisory Committee; §159.4, Jurisdiction and Exemptions; §159.52, Fees; §159.101, Registration Requirements; §159.102, Eligibility for Registration; Ownership; §159.103, Applications; §159.104, Primary Contact; Appraiser Contact; §159.105, Denial of Registration; §159.107, Expiration; §159.108, Renewal; §159.109, Inactive Status; §159.154, Competency of Appraisers; §159.155, Periodic Review of Appraisals; §159.156, Business Records; §159.157, Compensation of Appraisers; §159.159, Disclosure of Registered Name and Registration Number; §159.161, Appraiser Panel; §159.162, Dispute Resolution; §159.201, Guidelines for Revocation, Suspension, or Denial of a Registration; and §159.204, Complaint Processing without changes as published in the September 19, 2014 issue of the Texas Register (39 TexReg 7523).

The amendments are made following a comprehensive rule review for this Chapter to better reflect current TALCB procedures applicable to Appraisal Management Companies (AMCs) and to simplify and clarify where needed. Specific amendments recommended by the AMC Advisory Committee include allowing an AMC to renew its license on inactive status and reducing the percentage of annual appraisal reviews an AMC must perform from five to two percent

The reasoned justification for the amendments adopted by the TALCB is to align the rules with current TALCB practices and simplify and clarify the rules for improved consistency and readability.

Two comments were received on the amendments as proposed. One commenter was a trade association and the other commenter was a law firm who represents AMCs. Both commenters support the reduction in the total percentage of appraisals that must be reviewed by an AMC on an annual basis. In addition, one commenter supports the clarification requiring a license holder to utilize an AMC's dispute resolution process before filing a complaint against an AMC with the TALCB.

The TALCB agrees with all of the recommended amendments except the reduction to the percentage of annual appraisal reviews that must be conducted by an AMC. The TALCB believes there is not enough data to support this reduction from five to two percent at this time and is concerned that the reduction could lessen consumer protection.

The amendments are adopted under Texas Occupations Code, §1104.051, which authorizes the TALCB to adopt rules necessary to administer the provisions of Chapter 1104, Texas Occupations Code.

The statute affected by these amendments is Texas Occupations Code, Chapter 1104. No other statute, code or article is affected by the amendments.