§ 3345. — Certification and licensing requirements.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3345]
TITLE 12--BANKS AND BANKING
CHAPTER 34A--APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
Sec. 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) Restriction
No 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'' defined
As 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 criteria
Nothing 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 Subcommittee
The 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.
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\1\ So in original. Probably should be ``de minimis''.
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(Pub. L. 101-73, title XI, Sec. 1116, Aug. 9, 1989, 103 Stat. 515; Pub.
L. 102-233, title VII, Sec. 701(a), Dec. 12, 1991, 105 Stat. 1792; Pub.
L. 102-242, title IV, Sec. 472(a), Dec. 19, 1991, 105 Stat. 2386; Pub.
L. 102-550, title XVI, Sec. 1617(a), Oct. 28, 1992, 106 Stat. 4096.)
Amendments
1992--Subsec. (e). Pub. L. 102-550, Sec. 1617(a), repealed Pub. L.
102-233, Sec. 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, Sec. 701(a), which added subsec. (e) prohibiting
Appraisal Subcommittee from setting qualifications or experience
requirements, was repealed by Pub. L. 102-550, Sec. 1617(a). See
Construction of 1991 Amendment note below.
Construction of 1991 Amendment
Section 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.''
