§ 3331. — Purpose.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3331]
TITLE 12--BANKS AND BANKING
CHAPTER 34A--APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
Sec. 3331. Purpose
The purpose of this chapter is to provide that Federal financial and
public policy interests in real estate related transactions will be
protected by requiring that real estate appraisals utilized in
connection with federally related transactions are performed in writing,
in accordance with uniform standards, by individuals whose competency
has been demonstrated and whose professional conduct will be subject to
effective supervision.
(Pub. L. 101-73, title XI, Sec. 1101, Aug. 9, 1989, 103 Stat. 511.)
