FIRREA Title XI (Real Estate Appraisal Reform Amendments, 12 U.S.C.) § 3335 — Powers of Appraisal Subcommittee
FIRREA Title XI (Real Estate Appraisal Reform Amendments, 12 U.S.C.), §3335 Powers of Appraisal Subcommittee. Full verbatim text from the Office of the Law Revision Counsel's United States Code (USLM XML, release point 119-111).
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Verbatim provisions from FIRREA Title XI (Real Estate Appraisal Reform Amendments, 12 U.S.C.) § 3335 — Powers of Appraisal Subcommittee — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 U.S.C. §3335 — Powers of Appraisal Subcommittee
The Appraisal Subcommittee may, for the purpose of carrying out this chapter, establish advisory committees, hold hearings prescribe [1] regulations in accordance with chapter 5 of title 5 (commonly referred to as the Administrative Procedures Act) after notice and opportunity for comment,,[2] sit and act at times and places, take testimony, receive evidence, provide information, and perform research, as the Appraisal Subcommittee considers appropriate. Any regulations prescribed by the Appraisal Subcommittee shall (unless otherwise provided in this chapter) be limited to the following functions: temporary practice, national registry, information sharing, and enforcement. For purposes of prescribing regulations, the Appraisal Subcommittee shall establish an advisory committee of industry participants, including appraisers, lenders, consumer advocates, real estate agents, and government agencies, and hold meetings as necessary to support the development of regulations.
12 U.S.C. §3335 note — source credit and editorial notes (not statute text)
(Pub. L. 101–73, title XI, § 1106, Aug. 9, 1989, 103 Stat. 512; Pub. L. 111–203, title XIV, § 1473(d), July 21, 2010, 124 Stat. 2191.) Editorial Notes References in Text This chapter, referred to in text, was in the original “this title”, meaning title XI of Pub. L. 101–73, which is classified principally to this chapter. For complete classification of title XI to the Code, see Tables. Amendments 2010—Pub. L. 111–203 inserted “prescribe regulations in accordance with chapter 5 of title 5 (commonly referred to as the Administrative Procedures Act) after notice and opportunity for comment,” after “hold hearings” and “Any regulations prescribed by the Appraisal Subcommittee shall (unless otherwise provided in this chapter) be limited to the following functions: temporary practice, national registry, information sharing, and enforcement. For purposes of prescribing regulations, the Appraisal Subcommittee shall establish an advisory committee of industry participants, including appraisers, lenders, consumer advocates, real estate agents, and government agencies, and hold meetings as necessary to support the development of regulations.” at the end. Statutory Notes and Related Subsidiaries Effective Date of 2010 Amendment Amendment by Pub. 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 Pub. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade. [1] So in original. Probably should be preceded by a comma. [2] So in original.
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