A BILL TO BE ENTITLED
AN ACT to conform the law on the compensation of appraisers by appraisal management companies to the federal truth‑in‑lending act as interpreted by the Consumer Financial Protection Bureau's Regulation Z and to replace an inconsistent reference to principal dwellings with a reference to one‑ to four‑family residential dwellings.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 93E‑2‑4(i) reads as rewritten:
"(i)	For appraisal assignments of one‑ to four‑family residential dwellings, an appraisal management company shall compensate appraisers in compliance with section 129E(i) of the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder. The Board shall adopt rules necessary to enforce this subsection."
SECTION 2.  This act becomes retroactively effective January 1, 2017.