§ 3338. — Roster of State certified or licensed appraisers; authority to collect and transmit fees.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3338]
TITLE 12--BANKS AND BANKING
CHAPTER 34A--APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
Sec. 3338. Roster of State certified or licensed appraisers;
authority to collect and transmit fees
(a) In general
Each State with an appraiser certifying and licensing agency whose
certifications and licenses comply with this chapter, shall--
(1) transmit to the Appraisal Subcommittee, no less than
annually, a roster listing individuals who have received a State
certification or license in accordance with this chapter; and
(2) collect from such individuals who perform or seek to perform
appraisals in federally related transactions, an annual registry fee
of not more than $25, such fees to be transmitted by the State
agencies to the Council on an annual basis.
Subject to the approval of the Council, the Appraisal Subcommittee may
adjust the dollar amount of registry fees, up to a maximum of $50 per
annum, as necessary to carry out its functions under this chapter.
(b) Use of amounts appropriated or collected
Amounts appropriated for or collected by the Appraisal Subcommittee
under this section shall be used--
(1) to maintain a registry of individuals who are qualified and
eligible to perform appraisals in connection with federally related
transactions;
(2) to support its activities under this chapter;
(3) to reimburse the general fund of the Treasury for amounts
appropriated to and expended by the Appraisal Subcommittee during
the 24-month startup period following August 9, 1989; and
(4) to make grants in such amounts as it deems appropriate to
the Appraisal Foundation, to help defray those costs of the
foundation relating to the activities of its Appraisal Standards and
Appraiser Qualification Boards.
(Pub. L. 101-73, title XI, Sec. 1109, Aug. 9, 1989, 103 Stat. 513.)
Section Referred to in Other Sections
This section is referred to in section 3337 of this title.
