§ 3342. Transactions requiring services of State certified appraiser

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.

1. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title XI § 1113 · 103 Stat. 183

   Enacted · 12 U.S.C. § 3342

   Pub. L. 101–73, title XI, § 1113, Aug. 9, 1989, 103 Stat. 514

   Source evidence

   Code source credit
   Pub. L. 101–73, title XI, § 1113, Aug. 9, 1989, 103 Stat. 514

   Enacted provision · exact public law section
   SEC. 1113. TRANSACTIONS REQUIRING THE SERVICES OF A STATE CERTIFIED APPRAISER. In determining whether an appraisal in connection with a federally related transaction shall be performed by a State certified appraiser, an agency or instrumentality under this title shall consider whether transactions, either individually or collectively, are of sufficient financial or public policy importance to the United States that an individual who performs an appraisal in connection with such transactions should be a State certified appraiser, except that— (1) a State certified appraiser shall be required for all federally related transactions having a value of $1,000,000 or more; and (2) l-to-4 unit, single family residential appraisals may be performed by State licensed appraisers unless the size and complexity requires a State certified appraiser.

2. 2010

   Mortgage Reform and Anti-Predatory Lending Act

   Pub. L. 111–203 title XIV § 1473(e)(2) · 124 Stat. 1376

   Inserted · 12 U.S.C. § 3342(2)

   Pub. L. 111–203 inserted “, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical” before the period

   Source evidence

   Code amendment note
   Par. (2). Pub. L. 111–203 inserted “, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical” before the period.

   Enacted provision · exact public law section
   (2) Section 1113.— Section 1113 of the Financial Institutions and Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3342) is amended by inserting before the period the following: Definition. “, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical”.

   Effective date note
   Amendment 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.

3. 2026

   Pub. L. 119–101 title IV § 403(c)(3) · 140 Stat. 901

   1. Amended · 12 U.S.C. § 3342

      Pub. L. 119–101 designated existing provisions as subsec. (a)

   2. Inserted · 12 U.S.C. § 3342

      Pub. L. 119–101 inserted heading

   3. Added · 12 U.S.C. § 3342

      Pub. L. 119–101 added subsec. (b)

   Unresolved: Pub. L. 119–101 was not found in the local Statutes at Large index.

   Source evidence

   Code amendment note
   Pub. L. 119–101 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

2 of 5 references resolved to an enrolled provision · 3 unresolved