[USC02] 25 USC 5635: Appraisals and valuations
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25 USC 5635: Appraisals and valuations Text contains those laws in effect on December 2, 2020
From Title 25-INDIANSCHAPTER 48-INDIAN TRUST ASSET REFORMSUBCHAPTER III-IMPROVING EFFICIENCY AND STREAMLINING PROCESSES
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§5635. Appraisals and valuations

(a) In general

Notwithstanding section 5634 of this title, not later than 18 months after June 22, 2016, the Secretary, in consultation with Indian tribes and tribal organizations, shall ensure that appraisals and valuations of Indian trust property are administered by a single bureau, agency, or other administrative entity within the Department.

(b) Minimum qualifications

Not later than 1 year after June 22, 2016, the Secretary shall establish and publish in the Federal Register minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property.

(c) Secretarial approval

In any case in which an Indian tribe or Indian beneficiary submits to the Secretary an appraisal or valuation that satisfies the minimum qualifications described in subsection (b), and that submission acknowledges the intent of the Indian tribe or beneficiary to have the appraisal or valuation considered under this section, the appraisal or valuation-

(1) shall not require any additional review or approval by the Secretary; and

(2) shall be considered to be final for purposes of effectuating the transaction for which the appraisal or valuation is required.

( Pub. L. 114–178, title III, §305, June 22, 2016, 130 Stat. 441 .)