[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR722.6]



[Page 578]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 722_APPRAISALS--Table of Contents

 

Sec. 722.6  Professional association membership; competency.



    (a) Membership in appraisal organization. A state-certified 

appraiser or a state-licensed appraiser may not be excluded from 

consideration for an assignment for a federally related transaction 

solely by virtue of membership or lack of membership in any particular 

appraisal organization.

    (b) Competency. All staff and fee appraisers performing appraisals 

in connection with federally related transactions must be state-

certified or -licensed as appropriate. However, a state-certified or -

licensed appraiser may not be considered competent solely by virtue of 

being certified or licensed. Any determination of competency shall be 

based upon the individual's experience and educational background as 

they relate to the particular appraisal assignment for which he or she 

is being considered.