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Committee backs rule to formalize State Conservation Bank appraisal procurement policy
Summary
A legislative committee voted to forward a proposed regulation that codifies the State Conservation Bank’s internal appraisal procurement policy to the full committee with a recommendation to approve, after agency officials said the change simply implements an existing practice and responds to an attorney general review.
A South Carolina legislative committee voted to send a proposed regulation formalizing appraisal procurement procedures used by the State Conservation Bank to the full committee with a recommendation that it be approved.
The rule codifies the bank’s existing internal policy requiring appraisal practices that ensure the agency does not pay more than fair market value, Raleigh West, director of the State Conservation…
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