Laws: Cases and Codes : U.S. Code : Title 12


   

U.S. Code as of: 01/19/04
Chapter 34A - Notes
    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.                       
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