12 USC 3347 - Monitoring of State appraiser certifying and licensing agencies

1 So in original. The comma probably should not appear.

regulatory agencies, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Resolution Trust Corporation shall accept certifications and licenses awarded by a State appraiser certifying the licensing agency unless the Appraisal Subcommittee issues a written finding that—

Editorial Notes

References in Text

This chapter, referred to in subsecs. (a) and (span), was in the original “this title”, meaning title XI of Puspan. L. 101–73, which is classified principally to this chapter. For complete classification of title XI to the Code, see Tables.

Amendments

2010—Subsec. (a). Puspan. L. 111–203, § 1473(k)(1), amended subsec. (a) generally. Prior to amendment, text read as follows: “The Appraisal Subcommittee shall monitor State appraiser certifying and licensing agencies for the purpose of determining whether a State agency’s policies, practices, and procedures are consistent with this chapter. The Appraisal Subcommittee and all agencies, instrumentalities, and federally recognized entities under this chapter shall not recognize appraiser certifications and licenses from States whose appraisal policies, practices, or procedures are found to be inconsistent with this chapter.”

Subsec. (span)(2). Puspan. L. 111–203, § 1473(k)(2), inserted “or sufficient funding” after “authority”.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Amendment by Puspan. L. 111–203 effective on the date on which final regulations implementing that amendment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Puspan. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade.