08 LC 21
9758
Senate
Bill 496
By:
Senators Tate of the 38th, Hooks of the 14th, Thompson of the 33rd, Shafer of
the 48th, Orrock of the 36th and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 7-1-1013 of the Official Code of Georgia Annotated, relating
to prohibition of certain acts by persons involved in transacting a mortgage
business, so as to provide that it shall be prohibited to solicit or otherwise
facilitate the fraudulent appraisal of the value of property offered as security
for a mortgage or loan; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 7-1-1013 of the Official Code of Georgia Annotated, relating to
prohibition of certain acts by persons involved in transacting a mortgage
business, is amended by striking the word "or" at the end of paragraph (10), by
replacing the period at the end of paragraph (11) with "; or", and by adding a
new paragraph to read as follows:
"(12)
Knowingly compensate, instruct, induce, coerce, or intimidate or to attempt to
compensate, instruct, induce, coerce, or intimidate an appraiser for the purpose
of corrupting or improperly influencing the independent judgment of such
appraiser with respect to the value of property offered as security for the
repayment of a mortgage or loan."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.