12 USC Ch. 34A: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 34A-APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
CHAPTER 34A-APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Sec.
3331.
Purpose.
3332.
Functions of Appraisal Subcommittee.
(a)
In general.
(b)
Monitoring and reviewing foundation.
3333.
Chairperson of Appraisal Subcommittee; term of Chairperson; meetings.
(a)
Chairperson.
(b)
Meetings; quorum; voting.
3334.
Officers and staff.
3335.
Powers of Appraisal Subcommittee.
3336.
Procedures for establishing appraisal standards and requiring use of certified and licensed appraisers.
3337.
Startup funding.
(a)
In general.
(b)
Additional funds.
(c)
Repayment of Treasury loan.
3338.
Roster of State certified or licensed appraisers; authority to collect and transmit fees.
(a)
In general.
(b)
Use of amounts appropriated or collected.
3339.
Functions of Federal financial institutions regulatory agencies relating to appraisal standards.
3340.
Time for proposal and adoption of standards.
3341.
Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications.
(a)
In general.
(b)
Threshold level.
(c)
GAO study of appraisals in connection with real estate related financial transactions below threshold level.
3342.
Transactions requiring services of State certified appraiser.
3343.
Transactions requiring services of State licensed appraiser.
3344.
Time for proposal and adoption of rules.
3345.
Certification and licensing requirements.
(a)
In general.
(b)
Restriction.
(c)
"State licensed appraiser" defined.
(d)
Additional qualification criteria.
(e)
Authority of Appraisal Subcommittee.
3346.
Establishment of State appraiser certifying and licensing agencies.
3347.
Monitoring of State appraiser certifying and licensing agencies.
(a)
In general.
(b)
Disapproval by Appraisal Subcommittee.
(c)
Rejection of State certifications and licenses.
3348.
Recognition of State certified and licensed appraisers for purposes of this chapter.
(a)
Effective date for use of certified or licensed appraisers only.
(b)
Temporary waiver of appraiser certification or licensing requirements for State having scarcity of qualified appraisers.
(c)
Reports to State certifying and licensing agencies.
3349.
Violations in obtaining and performing appraisals in federally related transactions.
(a)
Violations.
(b)
Penalties.
(c)
Proceeding.
3350.
Definitions.
3351.
Miscellaneous provisions.
(a)
Temporary practice.
(b)
Reciprocity.
(c)
Supplemental funding.
(d)
Prohibition against discrimination.
(e)
Other requirements.
(f)
Studies.
3352.
Emergency exceptions for disaster areas.
(a)
In general.
(b)
3-year limit on exceptions.
(c)
Publication required.
(d)
"Disaster area" defined.