2001 US Code
Title 12 - BANKS AND BANKING
CHAPTER 34A - APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Sec. 3345 - Certification and licensing requirements
View MetadataPublication 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. 3345 - Certification and licensing requirements |
Contains | section 3345 |
Date | 2001 |
Laws in Effect as of Date | January 22, 2002 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 101-73, title XI, §1116, Aug. 9, 1989, 103 Stat. 515; Pub. L. 102-233, title VII, §701(a), Dec. 12, 1991, 105 Stat. 1792; Pub. L. 102-242, title IV, §472(a), Dec. 19, 1991, 105 Stat. 2386; Pub. L. 102-550, title XVI, §1617(a), Oct. 28, 1992, 106 Stat. 4096. |
Statutes at Large References | 103 Stat. 515 105 Stat. 1792, 2386 106 Stat. 4096 |
Public Law References | Public Law 101-73, Public Law 102-233, Public Law 102-242, Public Law 102-550 |
§3345. Certification and licensing requirements (a) In general
For purposes of this chapter, the term “State certified real estate appraiser” means any individual who has satisfied the requirements for State certification in a State or territory whose criteria for certification as a real estate appraiser currently meets the minimum criteria for certification issued by the Appraiser Qualification Board of the Appraisal Foundation.
(b) RestrictionNo individual shall be a State certified real estate appraiser under this section unless such individual has achieved a passing grade upon a suitable examination administered by a State or territory that is consistent with and equivalent to the Uniform State Certification Examination issued or endorsed by the Appraiser Qualification Board of the Appraisal Foundation.
(c) “State licensed appraiser” definedAs used in this section, the term “State licensed appraiser” means an individual who has satisfied the requirements for State licensing in a State or territory.
(d) Additional qualification criteriaNothing in this chapter shall be construed to prevent any Federal agency or instrumentality under this chapter from establishing such additional qualification criteria as may be necessary or appropriate to carry out the statutory responsibilities of such department, agency, or instrumentality.
(e) Authority of Appraisal SubcommitteeThe Appraisal Subcommittee shall not set qualifications or experience requirements for the States in licensing real estate appraisers, including a de minimus 1 standard. Recommendations of the Subcommittee shall be nonbinding on the States.
(Pub. L. 101–73, title XI, §1116, Aug. 9, 1989, 103 Stat. 515; Pub. L. 102–233, title VII, §701(a), Dec. 12, 1991, 105 Stat. 1792; Pub. L. 102–242, title IV, §472(a), Dec. 19, 1991, 105 Stat. 2386; Pub. L. 102–550, title XVI, §1617(a), Oct. 28, 1992, 106 Stat. 4096.)
Amendments1992—Subsec. (e). Pub. L. 102–550, §1617(a), repealed Pub. L. 102–233, §701(a). See 1991 Amendment note below.
1991—Subsec. (e). Pub. L. 102–242 added subsec. (e) prohibiting Appraisal Subcommittee from setting qualifications or experience requirements, including a de minimis standard.
Pub. L. 102–233, §701(a), which added subsec. (e) prohibiting Appraisal Subcommittee from setting qualifications or experience requirements, was repealed by Pub. L. 102–550, §1617(a). See Construction of 1991 Amendment note below.
Construction of 1991 AmendmentSection 1617(b) of Pub. L. 102–550 provided that: “No amendments made by title VII of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 [amending this section and section 3348 of this title] shall be deemed to have taken effect before the date of the enactment of this Act [Oct. 28, 1992] and the provisions of law amended by title VII shall continue in effect as if no such amendments had been made by such title.”
1 So in original. Probably should be “de minimis”.
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