12 CFR 1102.400 - Authority, purpose, and scope.

Regulations last checked for updates: Nov 24, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024

View all text of Subpart E [§ 1102.400 - § 1102.403]

§ 1102.400 - Authority, purpose, and scope.

(a) Authority. This subpart is issued by the Appraisal Subcommittee (ASC) under sections 1106 and 1109 (a)(4)(B) of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (Title XI), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) (Pub. L. 111-203, 124 Stat. 1376 (2010)), 12 U.S.C. 3335,3338.

(b) Purpose. The purpose of this subpart is to implement section 1109 (a)(4)(B) of Title XI, 12 U.S.C. 3338.

(c) Scope. This subpart applies to States that elect to register and supervise appraisal management companies pursuant to 12 U.S.C. 3346 and 3353, and the regulations promulgated thereunder.

authority: 12 U.S.C. 3348(a), 3332, 3335, 3338 (a)(4)(B), 3348(c), 5 U.S.C. 552a,553; Executive Order 12600, 52 FR 23781 (3 CFR, 1987 Comp., p. 235)

cite as: 12 CFR 1102.400