12 U.S. Code § 3350 - Definitions
The term “State appraiser certifying and licensing agency” means a State agency established in compliance with this chapter.
The terms “Appraisal Subcommittee” and “subcommittee” mean the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
The term “Federal financial institutions regulatory agencies” means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration.
The term “Chairperson” means the Chairperson of the Appraisal Subcommittee selected by the Council.
The terms “Appraisal Foundation” and “Foundation” means the Appraisal Foundation established on November 30, 1987, as a not for profit corporation under the laws of Illinois.
The term “written appraisal” means a written statement used in connection with a federally related transaction that is independently and impartially prepared by a licensed or certified appraiser setting forth an opinion of defined value of an adequately described property as of a specific date, supported by presentation and analysis of relevant market information.
2010—Par. (6). Pub. L. 111–203, § 1473(t)(2), substituted “Corporation,” for “Corporations,”.
Par. (8). Pub. L. 111–203, § 1473(t)(3), substituted “Council” for “council”.
Par. (11). Pub. L. 111–203, § 1473(f)(4), added par. (11).
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.
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