Governor Schwarzenegger signed Senate Bill 237 into law on October 11, 2009, mandating the registration of Appraisal Management Companies (AMCs). Effective January 1, 2010, no person or entity shall act in the capacity of an AMC without first obtaining a certificate of registration from the Office of Real Estate Appraisers. To view the enrolled legislation, please see the PDF at OREA's website: http://www.orea.ca.gov/pdf/SB-237-AMC.pdf
Instructions for the application process for AMCs will be posted on OREA's website in the near future, and the process for adoption of enabling regulations has commenced. Please refer to the OREA website for updates on implementation of the new law.