An Act making corrective changes to Chapter 112 of the General Laws

This bill amends Massachusetts laws to update regulations governing real estate appraisers and appraisal management companies. It primarily affects small appraisal firms by clarifying definitions, removing specific licensing restrictions, and tightening background check requirements for company owners. The legislation also mandates that the state board forward annual fees to a federal oversight committee and removes the term "managing principal" from various sections to align with current terminology.