2001 US Code
Title 12 - BANKS AND BANKING
CHAPTER 34A - APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Sec. 3339 - Functions of Federal financial institutions regulatory agencies relating to appraisal standards
View Metadata| Publication Title | United States Code, 2000 Edition, Supplement 1, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 34A - APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL Sec. 3339 - Functions of Federal financial institutions regulatory agencies relating to appraisal standards |
| Contains | section 3339 |
| Date | 2001 |
| Laws in Effect as of Date | January 22, 2002 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 101-73, title XI, §1110, Aug. 9, 1989, 103 Stat. 514. |
| Statutes at Large Reference | 103 Stat. 514 |
| Public Law Reference | Public Law 101-73 |
§3339. Functions of Federal financial institutions regulatory agencies relating to appraisal standards
Each Federal financial institutions regulatory agency and the Resolution Trust Corporation shall prescribe appropriate standards for the performance of real estate appraisals in connection with federally related transactions under the jurisdiction of each such agency or instrumentality. These rules shall require, at a minimum—
(1) that real estate appraisals be performed in accordance with generally accepted appraisal standards as evidenced by the appraisal standards promulgated by the Appraisal Standards Board of the Appraisal Foundation; and
(2) that such appraisals shall be written appraisals.
Each such agency or instrumentality may require compliance with additional standards if it makes a determination in writing that such additional standards are required in order to properly carry out its statutory responsibilities.
(Pub. L. 101–73, title XI, §1110, Aug. 9, 1989, 103 Stat. 514.)
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