§ 5635. Appraisals and valuations

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. 2016

   Indian Trust Asset Reform Act

   Pub. L. 114–178 title III § 305 · 130 Stat. 432

   Enacted · 25 U.S.C. § 5635

   (Pub. L. 114–178, title III, § 305, June 22, 2016, 130 Stat. 441.)

   Source evidence

   Code source credit
   (Pub. L. 114–178, title III, § 305, June 22, 2016, 130 Stat. 441.)

   Enacted provision · exact public law section
   SEC. 305. APPRAISALS AND VALUATIONS. (a) In General.— Notwithstanding section 304, not later than 18 months after the date of enactment of this Act, the Secretary, in consultation with Indian tribes and tribal organizations, shall ensure that appraisals and valuations of Indian trust property are administered by a single bureau, agency, or other administrative entity within the Department. (b) Minimum Qualifications.— Not later than 1 year after the date of enactment of this Act, the Secretary shall establish and publish in the Federal Register minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property. (c) Secretarial Approval.— In any case in which an Indian tribe or Indian beneficiary submits to the Secretary an appraisal or valuation that satisfies the minimum qualifications described in subsection (b), and that submission acknowledges the intent of the Indian tribe or beneficiary to have the appraisal or valuation considered under this section, the appraisal or valuation— (1) shall not require any additional review or approval by the Secretary; and (2) shall be considered to be final for purposes of effectuating the transaction for which the appraisal or valuation is required.

1 of 1 references resolved to an enrolled provision