Senate Judiciary Committee
Tuesday, November 9, 2021 | 11:30 a.m.
East Wing, Hearing Room 8E-B
Meeting to consider HB 1255
Call to Order
House Bill 1255 (Lewis) – Amends Section 5539 of Title 42 to limit the time frame pursuant to which an action to recover damages may be brought against a real estate appraiser.
- Amendment A02915 (Baker) – Clarifies that the specified time frame does not apply if (i) there is evidence of fraud or intentional misrepresentation on the part of the real estate appraiser or (ii) the appraisal was performed for a consumer as part of the purchase or sale of single-family residence not involving a lender. Also, eliminates the requirement that actions be brought within one year of discovery of an error and provides that the 5 year period of repose does not apply to claims that accrued before the effective date of the legislation.