ADVISORY COMMITTEE ON APPRAISAL MANAGEMENT COMPANIES

(a) The board shall establish an advisory committee to advise the board and make recommendations on matters related to the regulation of appraisal management companies under Chapter 1104. (b) The advisory committee consists of the assistant presiding officer of the board and four persons appointed by the governor as follows: (1) two members who are each designated as the controlling person of an appraisal management company registered under Chapter 1104; and (2) two public members with recognized business ability. (c) The assistant presiding officer of the board shall serve as the presiding officer of the advisory committee. (d) The members of the advisory committee appointed by the governor serve staggered two-year terms, with the terms of one appraisal management company member and one public member expiring on January 31 of each year. (e) An appointed member may not serve more than two consecutive two-year terms. (f) If a vacancy occurs during a member's term, the governor shall appoint a person to fill the unexpired term. (g) The advisory committee may hold a meeting by telephone conference call or other video or broadcast technology.