US Code
CHAPTER 34A— APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
§ 3345. Certification and licensing requirements

(a) In generalFor purposes of this chapter, the term “State certified real estate appraiser” means any individual who has satisfied the requirements for State certification in a State or territory whose criteria for certification as a real estate appraiser currently meets the minimum criteria for certification issued by the Appraiser Qualification Board of the Appraisal Foundation.
(b) RestrictionNo individual shall be a State certified real estate appraiser under this section unless such individual has achieved a passing grade upon a suitable examination administered by a State or territory that is consistent with and equivalent to the Uniform State Certification Examination issued or endorsed by the Appraiser Qualification Board of the Appraisal Foundation.
(c) “State licensed appraiser” definedAs used in this section, the term “State licensed appraiser” means an individual who has satisfied the requirements for State licensing in a State or territory whose criteria for the licensing of a real estate appraiser currently meet or exceed the minimum criteria issued by the Appraisal Qualifications Board of The Appraisal Foundation for the licensing of real estate appraisers.
(d) Additional qualification criteriaNothing in this chapter shall be construed to prevent any Federal agency or instrumentality under this chapter from establishing such additional qualification criteria as may be necessary or appropriate to carry out the statutory responsibilities of such department, agency, or instrumentality.
(e) Minimum qualification requirementsAny requirements established for individuals in the position of “Trainee Appraiser” and “Supervisory Appraiser” shall meet or exceed the minimum qualification requirements of the Appraiser Qualifications Board of The Appraisal Foundation. The Appraisal Subcommittee shall have the authority to enforce these requirements.

Structure US Code

US Code

Title 12— BANKS AND BANKING

CHAPTER 34A— APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

§ 3331. Purpose

§ 3332. Functions of Appraisal Subcommittee

§ 3333. Chairperson of Appraisal Subcommittee; term of Chairperson; meetings

§ 3334. Officers and staff

§ 3335. Powers of Appraisal Subcommittee

§ 3336. Procedures for establishing appraisal standards and requiring use of certified and licensed appraisers

§ 3337. Startup funding

§ 3338. Roster of State certified or licensed appraisers; authority to collect and transmit fees

§ 3339. Functions of Federal financial institutions regulatory agencies relating to appraisal standards

§ 3340. Time for proposal and adoption of standards

§ 3341. Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications

§ 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

§ 3350. Definitions

§ 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

§ 3355. Broker price opinions

§ 3356. Exemption from appraisals of real estate located in rural areas