Purpose.

Functions of Appraisal Subcommittee.

Chairperson of Appraisal Subcommittee; term of Chairperson; meetings.

Officers and staff.

Powers of Appraisal Subcommittee.

Procedures for establishing appraisal standards and requiring use of certified and licensed appraisers.

Startup funding.

Roster of State certified or licensed appraisers; authority to collect and transmit fees.

Functions of Federal financial institutions regulatory agencies relating to appraisal standards.

Time for proposal and adoption of standards.

Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications.

Transactions requiring services of State certified appraiser.

Transactions requiring services of State licensed appraiser.

Time for proposal and adoption of rules.

Certification and licensing requirements.

Establishment of State appraiser certifying and licensing agencies.

Monitoring of State appraiser certifying and licensing agencies.

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

Violations in obtaining and performing appraisals in federally related transactions.

Definitions.

Miscellaneous provisions.

Emergency exceptions for disaster areas.

Appraisal management company minimum requirements.

Automated valuation models used to estimate collateral value for mortgage lending purposes.

Broker price opinions.

Exemption from appraisals of real estate located in rural areas.