Title 12 — Banks and Banking
Chapter 34A — Appraisal Subcommittee of Federal Financial Institutions Examination Council
§ 3331. Purpose
Statutory text
The purpose of this chapter is to provide that Federal financial and public policy interests in real estate related transactions will be protected by requiring that real estate appraisals utilized in connection with federally related transactions are performed in writing, in accordance with uniform standards, by individuals whose competency has been demonstrated and whose professional conduct will be subject to effective supervision.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Pub. L. 101–73 title XI § 1101 · 103 Stat. 183
Enacted · 12 U.S.C. § 3331
(Pub. L. 101–73, title XI, § 1101, Aug. 9, 1989, 103 Stat. 511.)
Source evidence
Code source credit
(Pub. L. 101–73, title XI, § 1101, Aug. 9, 1989, 103 Stat. 511.)Enacted provision · exact public law section
SEC. 1101. PURPOSE. The purpose of this title is to provide that Federal financial and public policy interests in real estate related transactions will be protected by requiring that real estate appraisals utilized in connection with federally related transactions are performed in writing, in accordance with uniform standards, by individuals whose competency has been demonstrated and whose professional conduct will be subject to effective supervision.
1 of 1 references resolved to an enrolled provision