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12 USC § 3348 - Recognition of State certified and licensed appraisers for purposes of this chapter

---
identifier: "/us/usc/t12/s3348"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 3348 - Recognition of State certified and licensed appraisers for purposes of this chapter"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "3348"
section_name: "Recognition of State certified and licensed appraisers for purposes of this chapter"
chapter_number: 34
chapter_name: "APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 101–73, title XI, § 1119, Aug. 9, 1989, 103 Stat. 516; Pub. L. 102–233, title VII, § 701(b), Dec. 12, 1991, 105 Stat. 1792; Pub. L. 102–242, title IV, § 472(b), Dec. 19, 1991, 105 Stat. 2386; Pub. L. 102–550, title XVI, § 1617(a), Oct. 28, 1992, 106 Stat. 4096; Pub. L. 111–203, title XIV, § 1473(t)(1), July 21, 2010, 124 Stat. 2199.)"
---

# § 3348. Recognition of State certified and licensed appraisers for purposes of this chapter

**(a)** **Effective date for use of certified or licensed appraisers only**

**(1)** **In general** December 31, 1992

Not later than , 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 chapter.

**(2)** **Extension of effective date** December 31, 1991

Subject to the approval of the Council, the Appraisal Subcommittee may extend, until , 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 chapter.

**(b)** **Temporary waiver of appraiser certification or licensing requirements for State having scarcity of qualified appraisers** Subject to the approval of the Council, the Appraisal Subcommittee may waive any requirement relating to certification or licensing of a person to perform appraisals under this chapter if the Appraisal Subcommittee or a State agency whose certifications and licenses are in compliance with this chapter, makes a written determination that there is a scarcity of certified or licensed appraisers to perform appraisals in connection with federally related transactions in a State, or in any geographical political subdivision of a State, leading to significant delays in the performance of such appraisals. The waiver terminates when the Appraisal Subcommittee determines that such significant delays have been eliminated.

**(c)** **Reports to State certifying and licensing agencies** The Appraisal Subcommittee, any other Federal agency or instrumentality, or any federally recognized entity shall report any action of a State certified or licensed appraiser that is contrary to the purposes of this chapter, 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 take such further action, pursuant to written procedures, it deems necessary to carry out the purposes of this chapter.

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**Source Credit**: (Pub. L. 101–73, title XI, § 1119, Aug. 9, 1989, 103 Stat. 516; Pub. L. 102–233, title VII, § 701(b), Dec. 12, 1991, 105 Stat. 1792; Pub. L. 102–242, title IV, § 472(b), Dec. 19, 1991, 105 Stat. 2386; Pub. L. 102–550, title XVI, § 1617(a), Oct. 28, 1992, 106 Stat. 4096; Pub. L. 111–203, title XIV, § 1473(t)(1), July 21, 2010, 124 Stat. 2199.)

## Editorial Notes

### Amendments

2010—Subsec. (a)(2).  substituted “Council,” for “council,”.

1992—Subsecs. (a)(1), (b). , repealed . See 1991 Amendment note below.

1991—Subsec. (a)(1). , substituted “” for “”. , which made an identical amendment, was repealed by . See Construction of 1991 Amendment note below.

Subsec. (b). , substituted “, or in any geographical political subdivision of a State, leading to significant delays” for “leading to inordinate delays” in first sentence and “significant” for “inordinate” in second sentence. , which made an identical amendment, was repealed by . See Construction of 1991 Amendment note below.

## Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by  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 , set out as a note under , Commerce and Trade.

### Construction of 1991 Amendment

No amendment to this section by  to be deemed to have taken effect before , and provisions of law amended by such section 701 to continue in effect as if no such amendment had been made, see , set out as a note under .