Provides with respect to the appraisal threshold for bank owned property

Present law requires a bank to obtain a current appraisal of the fair market value of any immovable property that bank has acquired under certain conditions within a reasonable time of the acquisition, and every third calendar year thereafter.

Present law allows a bank to conduct evaluations of residential real estate in lieu of appraisals if that residential real estate is valued at or below $250,000.

Proposed law raises that threshold for appraisals from $250,000 to $400,000.

(Amends R.S. 6:243(C)(1) and (2))