Sec. 3. Trainee appraisers
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/bill/116/hr/3619/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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(3)of section 1103(a) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 3332(a)(3) ) is amended by striking and licensed and inserting , licensed, and trainee . Subparagraph
(A)of section 1109(a)(4) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 3338(a)(4)(A) ) is amended— by inserting including trainee appraisers, after transactions, ; by inserting except that the Appraisal Subcommittee may, in its discretion, charge a fee for trainee appraisers not exceeding $20 after $40, ; and by inserting before the semicolon the following: ; except that nothing in this subparagraph may be construed to require a State to establish or operate an program for trainee appraisers . Section 1121 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 3350 ) is amended by adding at the end the following new paragraph: The term trainee appraiser means an individual who meets the minimum criteria established by the Appraiser Qualification Board for a trainee appraiser license and is credentialed by a State appraiser certifying and licensing agency. .
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