12 U.S.C. § 3337: Startup funding

Summary

The Treasury must pay the Appraisal Subcommittee $5,000,000 on August 9, 1989, and any unpaid part must be repaid to Treasury by September 30, 1998. After that, it must be funded by registry fees paid by certified and licensed appraisers under 3338 or 3351(b); extra funds require authorization and appropriation by law.

Title 12, §3337

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(a)In general

For purposes of this chapter, the Secretary of the Treasury shall pay to the Appraisal Subcommittee a one-time payment of $5,000,000 on August 9, 1989. Thereafter, expenses of the subcommittee shall be funded through the collection of registry fees from certain certified and licensed appraisers pursuant to section 3338 of this title or, if required, pursuant to section 3351(b) of this title.

(b)Additional funds

Except as provided in section 3351(b) 1 of this title, funds in addition to the funds provided under subsection (a) may be made available to the Appraisal Subcommittee only if authorized and appropriated by law.

(c)Repayment of Treasury loan

Not later than September 30, 1998, the Appraisal Subcommittee shall repay to the Secretary of the Treasury the unpaid portion of the $5,000,000 paid to the Appraisal Subcommittee pursuant to this section.

Editorial Notes

References in Text

section 3351(b) of this title, referred to in text, was redesignated section 3351(c) of this title by Pub. L. 103–325, title III, § 315(1), Sept. 23, 1994, 108 Stat. 2222.

Amendments

1996—Subsec. (c). Pub. L. 104–208 added subsec. (c).

§3337 Startup Funding

Summary

Title 12, §3337

Notes & Related Subsidiaries

Editorial Notes

References in Text

Amendments

Citations & Metadata