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8000 - Miscellaneous Statutes and Regulations
{{2-29-08 p.8590.21}}
PART 1102—APPRAISER REGULATION
Subpart A—Temporary Waiver Requests
Sec.
1102.1
Authority, purpose, and scope.
1102.2
Requirements for requests.
1102.3
Other requests and information submissions.
1102.4
Notice and comment.
1102.5
Subcommittee determination.
1102.6
Waiver extension.
1102.7
Waiver termination.
Subpart B—Rules of Practice for Proceedings
Sec.
1102.20
Authority, purpose, and scope.
1102.21
Definitions.
1102.22
Appearance and practice before the Subcommittee.
1102.23
Formal requirements as to papers filed.
1102.24
Filing requirements.
1102.25
Service.
1102.26
When papers are deemed filed or served.
1102.27
Computing time.
1102.28
Documents and exhibits in proceedings public.
1102.29
Conduct of proceedings.
1102.30
Rules of evidence.
1102.31
Burden of proof.
1102.32
Notice of Intention to Commence A Proceeding.
1102.33
Rebuttal or Notice Not To Context.
1102.34
Briefs, memoranda and statements.
1102.35
Opportunity for informal settlement.
1102.36
Oral presentations.
1102.37
Decision of the Subcommittee and judicial review.
1102.38
Compliance activities.
1102.39
Duty to cooperate.
Subpart C—Rules Pertaining to the Privacy of Individuals and
Systems of Records Maintained by the Appraisal Subcommittee
Sec.
1102.100
Authority, purpose, and scope.
1102.101
Definitions.
1102.102
Times, places and requirements for requests pertaining to individual
records in a record system and for the identification of individuals
making requests for access to records pertaining to them.
1102.103
Disclosure of requested records.
1102.104
Special procedure: Medical records.
1102.105
Requests for amendment of records.
1102.106
Review of requests for amendment.
1102.107
Appeal of initial adverse agency determination regarding access or
amendment.
1102.108
General provisions.
1102.109
Fees.
1102.110
Penalties.
Subpart D—Description of Office, Procedures, Public Information
1102.300
Authority, scope and purpose.
1102.301
Definitions.
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1102.302
ASC authority and functions.
1102.303
Organization and methods of operation.
1102.304
General requirements, exemptions, procedures and other matters.
1102.305
Publicly available records.
1102.306
Procedures for requesting records.
1102.307
Disclosure of exempt records.
1102.308
Right to petition for issuance, amendment and repeal of rules of
general application.
1102.309
Confidential treatment procedures.
1102.310
Service of process.
AUTHORITY: 12 U.S.C. 3348(b).
SOURCE: The provisions of this Part 1102 appear at 57 Fed. Reg.
10979, April 1, 1992, effective May 1, 1992, except as otherwise noted.
Subpart A—Temporary Waiver Requests
§ 1102.1 Authority, purpose and scope.
(a) Authority. This subpart is issued under section
1119(b) of title XI of the Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 ("FIRREA")
(12 U.S.C. § 3348(b)).
(b) Purpose and scope. This subpart prescribes rules
of practice and procedure governing temporary waiver proceedings under
section 1119(b) of title XI of FIRREA (12 U.S.C. 3348(b)). These
procedures apply whenever a state appraiser regulatory agency requests
the Appraisal Subcommittee of the Federal Financial Institutions
Examination Council ("ASC") for a waiver of any requirement
relating to certification or licensing of a person to perform
appraisals under title XI of FIRREA. They also apply whenever the ASC,
based on sufficient, credible information or requests received from
other persons or entities, initiates a temporary waiver proceeding.
[Codified to 12 C.F.R. § 1102.1]
§ 1102.2 Requirements for requests.
A request will not be deemed received by the ASC unless it fully and
accurately sets out:
(a) If the requester is a state appraiser regulatory agency, a
written, duly authorized determination by the state appraiser
regulatory agency that there is a scarcity of state licensed or state
certified appraisers leading to significant delays in obtaining
appraisals in federally related transactions. The scarcity can relate
to the entire state or to particular geographical or political
subdivisions. In the absence of such a written determination, a state
appraiser regulatory agency must ask the ASC for such a determination;
(b) The requirement or requirements of state law from which relief
is being sought;
(c) A description of all significant problems currently being
encountered in efforts to comply with title XI;
(d) The nature of the scarcity of certified or licensed appraisers
(including supporting documentation);
(e) The extent of the delays anticipated or experienced in
obtaining the services of certified or licensed appraisers (including
supporting documentation);
(f) The reasons why the requester believes that the requirement or
requirements are causing the scarcity of certified or licensed
appraisers and the service delays; and
(g) A specific plan for expeditiously alleviating the scarcity and
the service delays.
[Codified to 12 C.F.R. § 1102.2]
§ 1102.3 Other requests and information submissions.
The federal financial institutions regulatory agencies and the
Resolution Trust Corporation, their respective regulated financial
institutions, and other persons or institutions with a demonstrable
interest in appraiser regulation, may ask the ASC for a determination
under § 1102.2(a) of this subpart, and may ask that the ASC exercise
its discretionary authority to initiate a temporary waiver proceeding.
Such regulated financial institutions and other persons or institutions
do not need to comply with § 1102.2(g) of this subpart, but are
strongly encouraged to include meaningful suggestions and
recommendations for
{{2-28-93 p.8590.23}}remedying the situation.
A copy of the request or informational submission shall be forwarded
promptly to the state appraiser regulatory agency. The ASC shall
consider these submissions and requests in exercising its authority to
initiate a temporary waiver procedure. When the ASC initiates a
temporary waiver proceeding, these documents shall correspond to a
received request under § 1102.4 of this subpart.
[Codified to 12 C.F.R. § 1102.3]
§ 1102.4 Notice and comment.
The ASC shall publish promptly in the Federal Register a notice
respecting:
(a) The received request; or
(b) The ASC order initiating a temporary waiver proceeding. The
notice or initiation order shall contain a concise general statement of
the nature and basis for the action and shall give interested persons
30 calendar days from its publication in which to submit written data,
views and arguments.
[Codified to 12 C.F.R. § 1102.4]
§ 1102.5 Subcommittee determination.
Within 45 calendar days of the date of the publication of the notice
or initiation order in the Federal Register, the ASC, by order, shall
either grant or deny a waiver in whole, in part, and upon specified
terms and conditions, including provisions for waiver termination. Such
order shall respond to comments received from interested members of the
public and shall provide the reasons for the ASC's finding. The order
shall be published promptly in the Federal Register, which, in the case
of an approval order, shall be after Federal Financial Institutions
Examination Council concurrence. Upon the ASC's determination that an
emergency exists, the ASC may issue an interim approval order
simultaneously with its action under § 1102.4 of this subpart. Any
ASC approval order shall be effective only upon Federal Financial
Institutions Examination Council concurrence.
[Codified to 12 C.F.R. § 1102.5]
§ 1102.6 Waiver extension.
The ASC may initiate an extension of temporary waiver relief and
shall follow §§ 1102.4, 1102.5 and 1102.7 of this subpart. A state
appraiser regulatory agency also may request an extension of temporary
waiver relief by forwarding an additional written request to the ASC. A
request for an extension from state appraiser regulatory agency shall
be subject to all the requirements of this subpart.
[Codified to 12 C.F.R. § 1102.6]
§ 1102.7 Waiver termination.
The ASC at any time may terminate a waiver order on the finding
that:
(a) The significant delays in obtaining the services of certified
or licensed appraisers no longer exist; or
(b) The terms and conditions of the waiver order are not being
satisfied. The ASC shall publish a finding of waiver termination
promptly in the Federal Register, giving interested persons no less
than 30 calendar days from publication in which to submit written data,
views and arguments. In the absence of further ASC action to the
contrary, the finding of waiver termination automatically shall become
final 21 calendar days after the close of the comment period.
[Codified to 12 C.F.R. § 1102.7]
[The page following this is 8590.31.]
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