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U.S. Code as of:
01/19/04
Section 3348. Recognition of State certified and licensed appraisers for purposes of this chapter
(a) Effective date for use of certified or licensed appraisers only
(1) In general
Not later than December 31, 1992, all appraisals performed in
connection with federally related transactions shall be performed
only by individuals certified or licensed in accordance with the
requirements of this chapter.
(2) Extension of effective date
Subject to the approval of the council, the Appraisal
Subcommittee may extend, until December 31, 1991, the effective
date for the use of certified or licensed appraisers if it makes
a written finding that a State has made substantial progress in
establishing a State certification and licensing system that
appears to conform to the provisions of this chapter.
(b) Temporary waiver of appraiser certification or licensing
requirements for State having scarcity of qualified appraisers
Subject to the approval of the Council, the Appraisal
Subcommittee may waive any requirement relating to certification or
licensing of a person to perform appraisals under this chapter if
the Appraisal Subcommittee or a State agency whose certifications
and licenses are in compliance with this chapter, makes a written
determination that there is a scarcity of certified or licensed
appraisers to perform appraisals in connection with federally
related transactions in a State, or in any geographical political
subdivision of a State, leading to significant delays in the
performance of such appraisals. The waiver terminates when the
Appraisal Subcommittee determines that such significant delays have
been eliminated.
(c) Reports to State certifying and licensing agencies
The Appraisal Subcommittee, any other Federal agency or
instrumentality, or any federally recognized entity shall report
any action of a State certified or licensed appraiser that is
contrary to the purposes of this chapter, to the appropriate State
agency for a disposition of the subject of the referral. The State
agency shall provide the Appraisal Subcommittee or the other
Federal agency or instrumentality with a report on its disposition
of the matter referred. Subsequent to such disposition, the
subcommittee or the agency or instrumentality may take such further
action, pursuant to written procedures, it deems necessary to carry
out the purposes of this chapter.
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