Page:United States Statutes at Large Volume 103 Part 1.djvu/544

 103 STAT. 516 PUBLIC LAW 101-73 —AUG. 9, 1989 (2) the State agency is not granted authority by the State which is adequate to permit the agency to carry out its func- tions under this title; or (3) decisions concerning appraisal standards, appraiser quali- fications and supervision of appraiser practices are not made in a manner that carries out the purposes of this title. (c) REJECTION OF STATE CERTIFICATIONS AND LICENSES.— (1) OPPORTUNITY TO BE HEARD OR CORRECT CONDITIONS. —Before refusing to recognize a State's appraiser certifications or li- censes, the Appraisal Subcommittee shall provide that State's certifying and licensing agency a written notice of its intention not to recognize the State's certified or licensed appraisers and ample opportunity to provide rebuttal information or to correct the conditions causing the refusal. (2) ADOPTION OF PROCEDURES.— The Appraisal Subcommittee shall adopt written procedures for taking actions described in this section. (3) JUDICIAL REVIEW. — A decision of the subcommittee under this section shall be subject to judicial review. 12 USC 3348. SEC. 1119. RECOGNITION OF STATE CERTIFIED AND LICENSED APPRAIS- ERS FOR PURPOSES OF THIS TITLE. (a) EFFECTIVE DATE FOR USE OF CERTIFIED OR LICENSED APPRAISERS ONLY. — (1) IN GENERAL,—Not later than July 1, 1991, all appraisals performed in connection with federally related transactions shall be performed only by individuals certified or licensed in accordance with the requirements of this title. (2) EXTENSION OF EFFECTIVE DATE. —Subject to the approval of the council, the Appraisal Subcommittee may extend, until December 31, 1991, the effective date for the use of certified or licensed appraisers if it makes a written finding that a State has made substantial progress in establishing a State certification and licensing system that appears to conform to the provisions of this title. (b) TEMPORARY WAIVER OF APPRAISER CERTIFICATION OR LICENSING REQUIREMENTS FOR STATE HAVING SCARCITY OF QUALIFIED APPRAIS- ERS.— Subject to the approval of the Council, the Appraisal Sub- committee may waive any requirement relating to certification or licensing of a person to perform appraisals under this title if the Appraisal Subcommittee or a State agency whose certifications and licenses are in compliance with this title, makes a written deter- mination that there is a scarcity of certified or licensed appraisers to perform appraisals in connection with federally related transactions in a State leading to inordinate delays in the performance of such appraisals. The waiver terminates when the Appraisal Subcommit- tee determines that such inordinate delays have been eliminated. (c) REPORTS TO STATE CERTIFYING AND LICENSING AGENCIES. —The Appraisal Subcommittee, any other Federal agency or instrumental- ity, or any federally recognized entity shall report any action of a State certified or licensed appraiser that is contrary to the purposes of this title, to the appropriate State agency for a disposition of the subject of the referral. The State agency shall provide the Appraisal Subcommittee or the other Federal agency or instrumentality with a report on its disposition of the matter referred. Subsequent to such disposition, the subcommittee or the agency or instrumentality may

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