[Code of Federal Regulations]

[Title 12, Volume 7]

[Revised as of January 1, 2006]

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

[CITE: 12CFR1102.301]



[Page 256-257]

 

                       TITLE 12--BANKS AND BANKING

 

     CHAPTER XI--FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

 

PART 1102_APPRAISER REGULATION--Table of Contents

 

     Subpart D_Description of Office, Procedures, Public Information

 

Sec. 1102.301  Definitions.



    For purposes of this subpart:

    (a) ASC means the Appraisal Subcommittee of the Federal Financial 

Institutions Examination Council.

    (b) Commercial use request means a request from, or on behalf of, a 

requester who seeks records for a use or purpose that furthers the 

commercial, trade, or profit interests of the requester or the person on 

whose behalf the request is made. In determining whether a request falls 

within this category, the ASC will determine the use to which a 

requester will put the records requested and seek additional information 

as it deems necessary.

    (c) Direct costs means those expenditures the ASC actually incurs in 

searching for, duplicating, and, in the case of commercial requesters, 

reviewing records in response to a request for records.

    (d) Disclose or disclosure mean to give access to a record, whether 

by producing the written record or by oral discussion of its contents. 

Where the ASC member or employee authorized to release ASC documents 

makes a determination that furnishing copies of the documents is 

necessary, these words include the furnishing of copies of documents or 

records.

    (e) Duplication means the process of making a copy of a record 

necessary to respond to a request for records or for inspection of 

original records that contain exempt material or that cannot otherwise 

be directly inspected. Such copies can take the form of paper copy, 

microfilm, audiovisual records, or machine readable records (e.g., 

magnetic tape or computer disk).

    (f) Educational institution means a preschool, a public or private 

elementary or secondary school, an institution of undergraduate or 

graduate higher education, an institution of professional education, and 

an institution of vocational education, which operates a program or 

programs of scholarly research.

    (g) Field review includes, but is not limited to, formal and 

informal investigations of potential irregularities occurring at State 

appraiser regulatory agencies involving suspected violations of Federal 

or State civil or criminal laws, as well as such other investigations as 

may conducted pursuant to law.

    (h) Non-commercial scientific institution means an institution that 

is not operated on a commercial basis as that term is defined in 

paragraph (b) of this section, and which is operated solely for the 

purpose of conducting scientific research, the results of which are not 

intended to promote any particular product or industry.

    (i) Record includes records, files, documents, reports 

correspondence, books, and accounts, or any portion thereof, in any form 

the ASC regularly maintains them.

    (j) Representative of the news media means any person primarily 

engaged in gathering news for, or a free-lance journalist who can 

demonstrate a reasonable expectation of having his or her work product 

published or broadcast by, an entity that is organized and operated to 

publish or broadcast news to the public. The term news means information 

that is about current events or that would be of current interest to the 

general public.

    (k) Review means the process of examining documents located in a 

response to a request that is for a commercial use to determine whether 

any portion of any document located is permitted to be withheld. It also 

includes processing any documents for disclosure, e.g, doing all that is 

necessary to excise them and otherwise prepare them for release. Review 

does not include time spent resolving general legal or policy issues 

regarding the application of exemptions.

    (l) Search includes all time spent looking for material that is 

responsive to a request, including page-by-page or line-by-line 

identification of material within records. Searches may be done manually 

and/or by computer using existing programming.

    (m) State appraiser regulatory agency includes, but is not limited 

to, any board, commission, individual or other entity that is authorized 

by State law to license, certify, and supervise the activities or 

persons authorized to perform appraisals in connections with federally 

related transactions and real estate related financial transactions



[[Page 257]]



that require the services of a State licensed or certified appraiser.



[64 FR 72496, Dec. 28, 1999]