(a) In generalFor 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) 11 See References in Text note below. of this title.
(b) Additional fundsExcept 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 loanNot 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.
Structure US Code
CHAPTER 34A— APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
§ 3332. Functions of Appraisal Subcommittee
§ 3333. Chairperson of Appraisal Subcommittee; term of Chairperson; meetings
§ 3335. Powers of Appraisal Subcommittee
§ 3338. Roster of State certified or licensed appraisers; authority to collect and transmit fees
§ 3340. Time for proposal and adoption of standards
§ 3342. Transactions requiring services of State certified appraiser
§ 3343. Transactions requiring services of State licensed appraiser
§ 3344. Time for proposal and adoption of rules
§ 3345. Certification and licensing requirements
§ 3346. Establishment of State appraiser certifying and licensing agencies
§ 3347. Monitoring of State appraiser certifying and licensing agencies
§ 3348. Recognition of State certified and licensed appraisers for purposes of this chapter
§ 3349. Violations in obtaining and performing appraisals in federally related transactions
§ 3351. Miscellaneous provisions
§ 3352. Emergency exceptions for disaster areas
§ 3353. Appraisal management company minimum requirements
§ 3354. Automated valuation models used to estimate collateral value for mortgage lending purposes
§ 3356. Exemption from appraisals of real estate located in rural areas