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Title 12 — Banks and BankingRelease 119-73

§3335 Powers of Appraisal Subcommittee

Title 12 › Chapter CHAPTER 34A— - APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL › § 3335

Last updated Apr 6, 2026|Official source

Summary

The Appraisal Subcommittee can set up advisory committees, hold hearings, make rules under chapter 5 of title 5 (the Administrative Procedure Act) after giving notice and a chance for public comment, meet and act when and where needed, take testimony, accept evidence, share information, and do research to carry out its work. Any rules it makes must only cover temporary practice, the national registry, information sharing, and enforcement. When writing those rules, the Subcommittee must form an advisory committee with industry members — appraisers, lenders, consumer advocates, real estate agents, and government agencies — and meet with them as needed.

Full Legal Text

Title 12, §3335

Banks and Banking — Source: USLM XML via OLRC

The Appraisal Subcommittee may, for the purpose of carrying out this chapter, establish advisory committees, hold hearings prescribe 11 So in original. Probably should be preceded by a comma. regulations in accordance with chapter 5 of title 5 (commonly referred to as the Administrative Procedures Act) after notice and opportunity for comment,,22 So in original. 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.

Legislative History

Notes & Related Subsidiaries

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 AmendmentAmendment 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.

Reference

Citations & Metadata

Citation

12 U.S.C. § 3335

Title 12 — Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73