Appraisal Subcommittee (ASC); ASC Rules of Operation; Amended, 80813-80817 [2010-32230]
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Federal Register / Vol. 75, No. 246 / Thursday, December 23, 2010 / Notices
Update Listing of Financial
Institutions in Liquidation.
ACTION:
[FR Doc. 2010–32205 Filed 12–22–10; 8:45 am]
BILLING CODE 6714–01–P
Notice is hereby given that
the Federal Deposit Insurance
Corporation (Corporation) has been
appointed the sole receiver for the
following financial institutions effective
as of the Date Closed as indicated in the
listing. This list (as updated from time
to time in the Federal Register) may be
relied upon as ‘‘of record’’ notice that the
Corporation has been appointed receiver
for purposes of the statement of policy
SUMMARY:
FEDERAL DEPOSIT INSURANCE
CORPORATION
Update to Notice of Financial
Institutions for Which the Federal
Deposit Insurance Corporation Has
Been Appointed Either Receiver,
Liquidator, or Manager
Federal Deposit Insurance
Corporation.
AGENCY:
80813
published in the July 2, 1992 issue of
the Federal Register (57 FR 29491). For
further information concerning the
identification of any institutions which
have been placed in liquidation, please
visit the Corporation Web site at https://
www.fdic.gov/bank/individual/failed/
banklist.html or contact the Manager of
Receivership Oversight in the
appropriate service center.
Dated: November 22, 2010.
Pamela Johnson,
Regulatory Editing Specialist, Federal Deposit
Insurance Corporation.
INSTITUTIONS IN LIQUIDATION
[In alphabetical order]
FDIC Ref. No.
Bank name
City
10314 ................
10315 ................
10316 ................
Allegiance Bank of North America ....................
First Banking Center .........................................
Gulf State Community Bank ..............................
Bala Cynwyd .....................................................
Burlington ..........................................................
Carrabelle ..........................................................
[FR Doc. 2010–32206 Filed 12–22–10; 8:45 am]
BILLING CODE 6714–01–P
FEDERAL FINANCIAL INSTITUTIONS
EXAMINATION COUNCIL
[Docket No. AS10–12]
Appraisal Subcommittee (ASC); ASC
Rules of Operation; Amended
Appraisal Subcommittee of the
Federal Financial Institutions
Examination Council.
ACTION: Notice of adoption of amended
ASC Rules of Operation by vote of the
ASC at its December 8, 2010 meeting.
The amended ASC Rules of Operation
supersede the ASC Rules of Operation
as published in 56 FR 28561 (June 21,
1991), and as previously amended by 56
FR 33451 (July 22, 1991); therefore, 56
FR 28561 and 56 FR 33451 will be
withdrawn, removed, and deleted upon
publication of the amended ASC Rules
of Operation.
AGENCY:
This notice announces the
Appraisal Subcommittee (ASC) of the
Federal Financial Institutions
Examination Council’s (FFIEC) adoption
of its amended ASC Rules of Operation.
The ASC Rules of Operation serve as
corporate bylaws outlining the ASC’s
purpose, functions, authority,
organization and operation.
SUPPLEMENTARY INFORMATION: Section
1102 (12 U.S.C. 3310) of Title XI of the
Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 (Title XI)
established the ASC. The Dodd-Frank
Wall Street Reform and Consumer
Protection Act of 2010 (the Dodd-Frank
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Act) amended numerous provisions in
Title XI. The amended ASC Rules of
Operation reflect the amendments to
Title XI brought about by the DoddFrank Act, and describe, among other
things, the organization of ASC
meetings, notice requirements for
meetings, quorum requirements, and
certain practices regarding the
disclosure of information.
DATES: Effective Date: Immediately.
FOR FURTHER INFORMATION CONTACT:
James R. Park, Executive Director, at
(202) 595–7575, or Alice M. Ritter,
General Counsel, at (202) 595–7577, via
Internet e-mail at jim@asc.gov and
alice@asc.gov, respectively, or by U.S.
Mail at Appraisal Subcommittee, 1401
H Street, NW., Suite 760, Washington,
DC 20005.
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ASC Rules of Operation
Article I
Nature and Purpose
Section 1.01. Appraisal Subcommittee
Established.
The Appraisal Subcommittee (ASC) is
established by Title XI of the Financial
Institutions Reform, Recovery, and
Enforcement Act of 1989 (Title XI), as
amended by the Dodd-Frank Wall Street
Reform and Consumer Protection Act of
2010 (Dodd-Frank Act).
Section 1.02. Definitions.
(1) Appraisal Subcommittee; ASC.
The terms ‘‘Appraisal Subcommittee’’
and ‘‘ASC’’ mean the Appraisal
Subcommittee of the Federal Financial
Institutions Examination Council.
(2) Title XI. The term ‘‘Title XI’’ means
Title XI of the Financial Institutions
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State
PA
WI
FL
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Reform, Recovery, and Enforcement Act
of 1989 (Pub. L 101–73, 103 Stat. 511
(1989) 12 U.S.C. 3310, 3331–3351).
(3) Federal financial institutions
regulatory agencies. The term ‘‘Federal
financial institutions regulatory
agencies’’ means the Board of Governors
of the Federal Reserve System, the
Federal Deposit Insurance Corporation,
the Office of the Comptroller of the
Currency, the Office of Thrift
Supervision, and the National Credit
Union Administration.
(4) ASC members. The term ‘‘ASC
members’’ means those persons
designated as representatives to the
Appraisal Subcommittee pursuant to:
a) section 1011 of the Federal
Financial Institutions Examination
Council Act of 1978 (12 U.S.C. 3310), as
added by section 1102 of Title XI and
amended by section 1473(s) of the
Dodd-Frank Act; and
b) the Department of Housing and
Urban Development pursuant to 12
U.S.C. 1708(e)(2).
(5) Member agency. The term
‘‘member agency’’ means those agencies
authorized to appoint designees to the
Appraisal Subcommittee described in:
a) section 1011 of the Federal
Financial Institutions Examination
Council Act of 1978 (12 U.S.C. 3310), as
added by section 1102 of Title XI and
amended by section 1473(s) of the
Dodd-Frank Act; and
b) the Department of Housing and
Urban Development pursuant to 12
U.S.C. 1708(e)(2).
(6) Council. The term ‘‘Council’’
means the Federal Financial Institutions
Examinations Council.
(7) Chairperson. The term
‘‘Chairperson’’ means the Chairperson of
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the Appraisal Subcommittee selected by
the Council.
(8) Vice Chairperson. The term ‘‘Vice
Chairperson’’ means the Vice
Chairperson of the Appraisal
Subcommittee serving as either the
outgoing Chairperson, or selected by the
Appraisal Subcommittee in accordance
with section 3.04.a below.
(9) Secretary. The term ‘‘Secretary’’
means the Executive Director of the
Appraisal Subcommittee of the Federal
Financial Institutions Examination
Council, or his/her designee. The
Secretary may delegate the ministerial
duties of Secretary to staff.
(10) Staff. The term ‘‘staff’’ means the
office personnel of the Appraisal
Subcommittee of the Federal Financial
Institutions Examination Council.
(11) Meeting. The term ‘‘meeting’’
means the deliberations (including
those conducted by conference
telephone call, or by any other method)
of at least four ASC members where
such deliberations determine or result
in the joint conduct or disposition of
agency business. Meetings may be held
in open session or closed session as
authorized by law. (See sections 3.06
thru 3.09 below.)
(12) Open Session. The term ‘‘open
session’’ means a properly noticed
meeting, pursuant to section 3.07 below,
of the ASC that is open to public
observation. Members of the public are
welcome to attend and observe, but are
required to notify staff in advance in
accordance with established policy.
(13) Closed Session. The term ‘‘closed
session’’ means a properly noticed
meeting, pursuant to section 3.07 below,
of the ASC that is closed to attendance
by ASC members only, and any other
persons requested to be in attendance by
the ASC members. The ASC may meet
in closed session to discuss personnel
matters, and/or to discuss Compliance
Reviews prior to taking action on final
Compliance Review Reports. The
subject matter discussed in any closed
session shall be described in the Federal
Register notice of the meeting.
(14) Briefing. The term ‘‘briefing’’
typically means informal background
discussions among ASC members and
staff which clarify issues and expose
varying views. A briefing is not a
meeting, and as such, is not subject to
notice or open session meeting
provisions. Briefings may be called by
the Chairperson, ASC members or staff.
Briefings may be held by any means
preferable to those attending. Summary
notes shall be taken concerning matters
discussed. Briefings may also include
sessions with individuals from outside
the agency where ASC members listen
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to a presentation and may elicit
additional information.
(15) Notation Vote. The term
‘‘notation vote’’ means transaction of
business, in accordance with section
3.13 below, by circulation of written
items, when it has been determined that
the business to be conducted is routine
or noncontroversial.
(16) Federally related transaction. The
term ‘‘federally related transaction’’
means any real estate-related financial
transaction which—
(A) a Federal financial institutions
regulatory agency engages in, contracts
for, or regulates; and
(B) requires the services of an
appraiser.
Section 1.03. ASC Functions.
The functions of the ASC are set forth
in section 1103 of Title XI (12 U.S.C.
3332).
Section 1.04. Authority.
Except as otherwise provided in Title
XI, all authority for carrying out the
functions of the ASC shall reside in the
ASC; however, from time to time, the
ASC may delegate any of its authority as
it deems appropriate to ASC members,
officers, or employees pursuant to the
ASC Delegations of Authority, or other
documents, including, but not limited
to, ASC regulations, Policy Statements,
manuals, position descriptions, orders
and certain instructions, or as otherwise
authorized by law. As provided in
section 1105 of Title XI (l2 U.S.C. 3334),
the Chairperson of the ASC shall have
authority to appoint such officers and
staff as may be necessary to carry out
the functions of the ASC.
Article 11
Assessments
Section 2.01. Assessments.
In accordance with section 1109 of
Title XI (12 U.S.C. 3338), the ASC shall
have the authority to receive an annual
fee of not more than $40 from each State
licensed or certified appraiser eligible to
perform appraisals in federally related
transactions. The fee may be modified
up to a maximum of $80 per annum in
accordance with section 1109 (a)(4)(A)
of Title XI. At such time that section
1124 (a) and (e) of Title XI are
implemented, thereby requiring
payment of the annual registry fee by
appraisal management companies, the
ASC shall have the authority to receive
an annual fee from each appraisal
management company in accordance
with section 1109 (a)(4)(B) of Title XI.
Article III
Organization and Operation of the ASC
Section 3.01. ASC Members.
The members of the ASC shall be
those persons described in section 1102
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of Title XI (12 U.S.C. 3310), and,
pursuant to 12 U.S.C. 1708(e)(2), the
Secretary (or designee) of the
Department of Housing and Urban
Development. (See section 1.02 (4)).
Section 3.02. General Powers.
The affairs, business and property of
the ASC shall be managed by the
Chairperson of the ASC pursuant to the
ASC’s direction and the ASC’s powers
shall include those set forth in section
1106 of Title XI (12 U.S.C. 3335). The
Subcommittee does not have the
authority to lease office space in its own
name and must rely on the General
Services Administration (GSA) for the
procurement of office space by entering
into an occupancy agreement with the
GSA for space leased by the GSA.
Section 3.03. Compensation and
Expenses of ASC Members.
Each ASC member shall serve on the
ASC without compensation other than
that received from their respective
employing Federal agency; but each
ASC member shall be entitled to an
advance or reimbursement for
reasonable expenses in carrying out
their official duties as an ASC member.
Such advance or reimbursement shall be
made only upon written request
accompanied by adequate
documentation of such expenses.
Section 3.04. Chairperson of the ASC.
In accordance with section 1104(a) of
Title XI (12 U.S.C. 3333(a), the Council
shall elect a Chairperson of the ASC.
The term of office of the Chairperson
shall be for a two-year term. The
Chairperson’s term shall expire on
March 31 every other year. The
Chairperson shall carry out all duties
required by Title XI and these Rules,
and shall perform such other duties as
from time to time may be assigned by
the ASC.
Section 3.04.a Vice Chairperson of the
ASC.
The outgoing Chairperson shall serve
as the Vice Chairperson for a period of
one year, with the term ending March
31. During the March meeting, the ASC
shall vote upon a Vice Chairperson to
serve for the next one-year term, which
shall coincide with the 2nd year of the
Chairperson’s two-year term. It is
anticipated that the Vice Chairperson
could serve as the next Chairperson, if
so elected by the Council. The Vice
Chairperson shall assist the Chairperson
as needed, and shall act on behalf of the
ASC in the absence or incapacity of the
Chairperson.
Section 3.05. ASC member Vacating
Position in Respective Agency.
A person shall remain an ASC
member of the ASC until that person
resigns or is no longer employed by the
designating agency, or until the agency
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head designates a replacement. If the
vacating ASC member is Chairperson of
the ASC, a succeeding Chairperson shall
be selected by the Council under section
1104(a) of Title XI (12 U.S.C. 3333(a)).
Section 3.06. Organization of ASC
Meetings.
(a) The Chairperson of the ASC shall
preside at ASC meetings. In his or her
absence, the Vice Chairperson shall
preside at such ASC meeting.
(b) The ASC shall hold its meetings in
public session, but may close certain
portions of its meetings related to
personnel matters, or to discuss
Compliance Reviews prior to taking
action on final Compliance Review
Reports. The subject matter discussed in
any closed or executive session shall be
described in the Federal Register notice
of the meeting.
(c) The Secretary shall draft and
transmit the minutes of the meeting to
each ASC member. The Secretary shall
be responsible for recording the
minutes, including the full text of each
resolution voted on by the ASC and the
substance of each action voted on by the
ASC as well as the vote. The Secretary
will be responsible for certifying or
attesting to true copies of the minutes,
or other documents, stating that actions
were in fact taken by the ASC. The
Secretary will also be responsible for
maintaining and preserving at a single
place, available for inspection at
reasonable times by any ASC member or
any person designated by any ASC
member, the complete minutes of the
proceedings of the ASC.
(d) Regular meetings of the ASC shall
be held in Washington, DC, at a location
designated by the Chairperson, or in
such other place as the ASC may
designate. Special meetings shall be
held in such place and at such location
as designated by the calling party or
parties. Regular and special meetings
shall be noticed as set forth in section
3.07(a) and (b) below.
(e) Regular meetings of the ASC shall
be held at least monthly, unless not
practicable, at the call of the
Chairperson. Special meetings shall be
held as provided in section 3.07(b)
below.
Section 3.07. Notice of Meetings.
(a) The Secretary shall send a notice
of each regular meeting, whether open
session or closed session, to the Federal
Register for publication at least seven
(7) days prior to the date the regular
meeting is to be held, and to each ASC
member by facsimile or email at least
seven (7) days prior to the date of the
regular meeting. Every regular meeting
notice shall specify the date, time, place
and subject matter of the meeting.
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(b) The Chairperson or any four (4) or
more ASC members may call a special
meeting, in which case, notice posting
date, time, place and subject matter of
the special meeting shall be published
in the Federal Register and distributed
to each ASC member as soon as
practicable.
(c) A waiver of any meeting notice
signed by an ASC member shall be the
equivalent of timely receipt by that ASC
member of notice. An ASC member’s
attendance at any meeting shall
constitute waiver of notice of that
meeting unless the ASC member attends
solely for the purpose of objecting to the
transaction of any business because the
meeting was not lawfully called or
convened.
Section 3.08. Quorum, Manner of
Acting and Adjournment.
(a) At any regular or special meeting,
the presence of a majority of the ASC
members shall constitute a quorum for
the transaction of business. For the
purpose of the preceding sentence, an
alternate will count only if he/she has
been so designated in writing by the
head of the respective member agency.
The acts voted by a majority of ASC
members present at such meeting shall
be the acts of the ASC. An ASC member
who is present at a meeting but who
abstains from voting on any matter shall
be counted for purposes of determining
whether a quorum is present, whether
that ASC member withdraws from or
remains in the meeting during such
vote. A majority of the ASC members
present at any meeting, whether or not
there is a quorum present, may adjourn
the meeting. In transacting the business
of the ASC, each ASC member shall be
entitled to only one vote.
(b) No item shall be voted upon by the
ASC except (1) where notice that the
item will be on the agenda of a regular
meeting has been given pursuant to
section 3.07 above, (2) where written
notice that the item will be on the
agenda of any meeting is delivered to
each ASC member at least two (2) full
business days prior to the date of such
meeting, or (3) upon the unanimous
consent of all ASC members.
Section 3.09. Agenda of ASC
Meetings.
(a) The agenda for meetings shall be
determined by the Chairperson in
consultation with the Secretary, or
where appropriate by the four (4) or
more ASC members calling the meeting;
provided that the Chairperson shall
include any item on the agenda when
he/she receives a request in writing
from any single ASC member at least
three (3) full business days prior to the
date of the meeting.
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(b) Any ASC member may request
during any regular or special meeting
that an item be placed on the agenda of
that meeting. The item shall be placed
on the agenda for discussion but only if
a majority of those present approve the
request.
Section 3.10. Certain Interest of the
ASC members.
No person serving as an officer or
employee of the ASC shall be deemed
to have an interest adverse to the
interest of the ASC solely because that
person is employed by a Federal agency
and assigned to the ASC. No ASC
member shall be required to abstain
from voting on any matter solely
because the Federal agency employing
that member is or will be affected. No
act of the ASC shall be subject to
challenge, or in any way be affected by
participation of said ASC member in
such vote.
Section 3.11. Proxies.
A member agency may designate an
alternate from his or her agency to carry
out the ASC member’s duties. Such
alternate may act in all matters as an
ASC member, except that he/she may
not act as the presiding officer of an
ASC meeting.
Section 3.12. Use of Conference Call
Communications Equipment.
Any or all ASC members may
participate in a meeting through the use
of conference call telephone or similar
communications equipment, by means
of which all persons participating in the
meeting can simultaneously speak and
hear each other. Any ASC member so
participating in the meeting shall be
deemed to be present for all purposes.
Actions taken by the ASC at meetings
where one or more ASC members
participate through the use of such
equipment, including the votes of each
ASC member, shall be recorded in the
minutes of the meeting.
Section 3.13. Notation Vote:
Transaction of Business by Circulation
of Written Items.
Any other provision of these Rules to
the contrary notwithstanding, business
may be conducted by the ASC by the
circulation of written items to all ASC
members. The Secretary, in consultation
with the Chairperson: (1) Shall
determine whether items qualify for this
expedited voting method because they
are routine or noncontroversial; and (2)
shall specify a deadline for the receipt
of ASC members’ responses. Qualifying
items may be transmitted in paper or
electronic format. The Secretary shall
confirm each ASC member’s actual
receipt of items, and the response
period shall be measured from the day
of actual receipt. ASC members may
vote in one of three ways: approve,
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disapprove or veto. The matter shall be
approved or disapproved by a majority
vote of the ASC members participating
in the voting process, so long as the
voting ASC members comprise a
quorum, as generally defined in Section
3.08(a). A vote to veto will cause the
matter to be placed on the agenda of the
next scheduled ASC meeting, as
governed by Section 3.09. The
disposition of each written item
circulated for vote, including the vote of
each ASC member, shall be recorded in
the minutes of the next meeting of the
ASC following the date the notation
vote closed.
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Article IV
Officers and Employees
Section 4.01. Permanent Officers and
Employees.
(a) Except as otherwise specifically
directed by the ASC, its Chairperson
shall have power to appoint and
terminate such officers and employees
as from time to time are deemed
necessary to carry out the ASC’s
mission. Position descriptions will be
written for all permanent personnel
employed by the ASC. Procedures
relative to the appointment,
termination, and compensation
practices of the ASC shall be consistent
with the appointment and
compensation practices of the Council,
or in accord with the policies set forth
in Title 5, United States Code and
applicable OPM rules and regulations.
(b) The ASC may adopt from time to
time such rules or regulations governing
the conduct of officers and employees as
it deems appropriate.
Section 4.02. Officers and Employees
Detailed From Federal Agencies.
Any person in the employ of any
Federal agency detailed to the ASC shall
be considered an officer or employee of
the ASC. Such persons shall be assigned
to and serve the ASC for a designated,
but renewable, period of time, and
salaries and benefits received by such
officers or employees shall be paid to
them by the agency from which that
officer or employee is assigned. All
salaries and benefits received by such
officers and employees shall be
reimbursed by the ASC to the detailee’s
home agency. Each Federal agency will
apply its own rules, regulations, and
policies to the circumstances under
which officers or employees assigned to
the ASC may resume their duties at that
agency upon termination of assignment
to the ASC.
Article V
Fiscal Year
Section 5.01. Fiscal Year.
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The ASC budget shall be prepared on
the basis of a fiscal year ending on
September 30th.
Article VI
Amendments
Section 6.01. Amendments. Unless
specifically stated herein, any of these
Rules may be altered, amended or
repealed, or new Rules may be adopted
at any meeting, regular or special, of the
ASC by the affirmative act of a majority
of all ASC members, so long as such
action is consistent with the
requirements of applicable law.
Amendments to these Rules shall not be
given retroactive effect.
Article VII
Public Information
Section 7.01. Freedom of Information
Act.
The Freedom of Information Act
(FOIA) is a Federal law that gives the
public the right to make requests for
Federal agency records. All Federal
agencies are required to make requested
records available unless the records are
protected from disclosure by certain
FOIA exemptions. The ASC has adopted
regulations (12 CFR 1102). Subpart D of
the regulations implements FOIA and
describes the procedures for persons to
request documents from the ASC. This
information is also available on the ASC
website at www.asc.gov.
Section 7.02. Public Statements and
Statements to the Press.
No written statements shall be made
to the press expressing the ASC’s policy
or descriptive of its action except as
authorized by the ASC. Such statements
shall be issued, when authorized and
approved, through the office of the
Executive Director as delegated by the
Chairperson. Where an individual ASC
member is responding on issues
pending before the ASC, that ASC
member should use best efforts to alert
other ASC members and the Secretary
concerning the substance of the
response as soon as possible.
Section 7.03. Disclaimer.
Except when otherwise authorized by
the ASC, individual ASC members,
officers and employees shall include in
written statements and oral
presentations the following disclaimer
of responsibility:
The Appraisal Subcommittee, as a
matter of policy, disclaims
responsibility for any private
publication or statement by any of its
Subcommittee members, officers, or
employees. The views expressed herein
are those of the author and do not
necessarily reflect the views of the
Subcommittee.
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The wording of the disclaimer may
vary with the circumstances so long as
its substance is clearly communicated.
Any written statement or oral
presentation which reflects
Subcommittee positions must set forth
those positions accurately and, if it
contains differences with Subcommittee
positions, it should clearly state that
such positions are solely those of the
author.
Article VIII
Advisory Committee
Section 8.01. Appointment of an
Advisory Group.
Subject to the Federal Advisory
Committee Act (5 U.S.C. App. 1–14) and
to such procedures as it may from time
to time adopt, the ASC may establish
nonvoting advisory group(s). Such
advisory group(s) shall meet with the
ASC on a schedule determined by the
ASC. Members of the advisory group(s)
may receive from the ASC an allowance,
in an amount to be determined by the
ASC, for necessary expenses incurred in
attending such meetings.
Article IX
Administrative Support
Section 9.01. Service of
Administrative Support.
(a) To insure that the orderly
administration of the affairs of the ASC
is accomplished, administrative support
functions shall be provided by the
permanent staff of the ASC with
assistance, when needed, from staff of
the member agencies.
(b) The Chairperson shall have the
authority to negotiate and execute
agreements regarding personnel,
payroll, grant administration,
procurement, and other services,
consistent with directives of the ASC. In
executing this authority, the
Chairperson shall be authorized to
obtain such administrative support
services as he/she deems necessary.
Article X
Report to Congress
Section 10.01. Annual Report to
Congress.
In accordance with section 1103 of
Title XI (12 U.S.C. 3332), the ASC shall
transmit an annual report to Congress
not later than June 15 of each year that
describes the manner in which each
function assigned to the Appraisal
Subcommittee has been carried out
during the preceding year. The report
shall also detail the activities of the
Appraisal Subcommittee, including the
results of Compliance Reviews of State
appraiser regulatory agencies, and
provide an accounting of disapproved
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actions and warnings taken in the
previous year, including a description of
the conditions causing the disapproval
and actions taken to achieve
compliance.
Section 10.02. Preparation of Reports.
The Executive Director or other party
as designated by the ASC is directed to
prepare in a timely fashion, for review
and approval by the ASC, the annual
report and such other documents
concerning the activities or decisions or
recommendations of the ASC as is
required by law or requested by the
Congress or any other party.
Article XI
Conduct
Section 11.01. Ethics Provision.
The ASC members of the ASC and its
officers and employees shall be required
to abide by a code of ethics, consistent
with applicable law.
*
*
*
*
*
By the Appraisal Subcommittee.
Dated: December 17, 2010.
Deborah S. Merkle,
Chairman.
[FR Doc. 2010–32230 Filed 12–22–10; 8:45 am]
BILLING CODE P
FEDERAL TRADE COMMISSION
Charges for Certain Disclosures
Federal Trade Commission.
Notice regarding charges for
certain disclosures.
AGENCY:
ACTION:
The Federal Trade
Commission announces that the ceiling
on allowable charges under Section
612(f) of the Fair Credit Reporting Act
(‘‘FCRA’’) will increase from $10.50 to
$11.00 effective January 1, 2011. Under
1996 amendments to the FCRA, the
Federal Trade Commission is required
to increase the $8.00 amount referred to
in paragraph (1)(A)(i) of Section 612(f)
on January 1 of each year, based
proportionally on changes in the
Consumer Price Index (‘‘CPI’’), with
fractional changes rounded to the
nearest fifty cents. The CPI increased
35.51 percent between September 1997,
the date the FCRA amendments took
effect, and September 2010. This
increase in the CPI, and the requirement
that any increase be rounded to the
nearest fifty cents, results in a maximum
allowable charge of $11.00 effective
January 1, 2011.
DATES: Effective Date: January 1, 2011.
ADDRESSES: Federal Trade Commission,
Washington, DC 20580.
FOR FURTHER INFORMATION CONTACT:
Clarke W. Brinckerhoff, Bureau of
mstockstill on DSKH9S0YB1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
18:06 Dec 22, 2010
Jkt 223001
Consumer Protection, 202–326–3208, or
Keith B. Anderson, Bureau of
Economics, Federal Trade Commission,
Washington, DC 20580, 202–326–3428.
SUPPLEMENTARY INFORMATION: Section
612(f)(1)(A) of the Fair Credit Reporting
Act, which became effective in 1997,
provides that a consumer reporting
agency may charge a consumer a
reasonable amount for making a
disclosure to the consumer pursuant to
Section 609 of the Act.1 The law states
that, where a consumer reporting agency
is permitted to impose a reasonable
charge on a consumer for making a
disclosure to the consumer pursuant to
Section 609, the charge shall not exceed
$8.00 and shall be indicated to the
consumer before making the disclosure.
Section 612(f)(2) states that the Federal
Trade Commission (‘‘the Commission’’)
shall increase the $8.00 maximum
amount on January 1 of each year, based
proportionally on changes in the
Consumer Price Index, with fractional
changes rounded to the nearest fifty
cents. An amendment of this section by
the Consumer Financial Protection Act
of 2010 2 provides that the newlycreated Consumer Financial Protection
Bureau will perform this task in future
years.
Section 211(a)(2) of the Fair and
Accurate Credit Transactions Act of
2003 (‘‘FACT Act’’) added a new Section
612(a) to the FCRA that gives consumers
the right to request free annual
disclosures once every 12 months. The
maximum allowable charge established
by this Notice does not apply to requests
made under that provision. The charge
does apply when a consumer who
orders a file disclosure has already
received a free annual disclosure and
does not otherwise qualify for an
additional free disclosure.
The Commission considers the $8.00
amount referred to in paragraph (1)(A)(i)
of Section 612(f) to be the baseline for
the effective ceiling on reasonable
charges dating from the effective date of
the amended FCRA, i.e., September 30,
1997. Each year the Commission
calculates the proportional increase in
the Consumer Price Index (using the
most general CPI, which is for all urban
consumers, all items) from September
1997 to September of the current year.
The Commission then determines what
1 This provision, originally Section 612(a), was
added to the FCRA in September 1996 and became
effective in September 1997. It was relabeled
Section 612(f) by Section 211(a)(1) of the Fair and
Accurate Credit Transactions Act of 2003 (‘‘FACT
Act’’), Public Law 108–159, which was signed into
law on December 4, 2003.
2 Dodd-Frank Wall Street Reform and Consumer
Protection Act, Public Law 111–203, Title X,
Section 1088.
PO 00000
Frm 00032
Fmt 4703
Sfmt 4703
80817
modification, if any, from the original
base of $8.00 should be made effective
on January 1 of the subsequent year,
given the requirement that fractional
changes be rounded to the nearest fifty
cents.
Between September 1997 and
September 2010, the Consumer Price
Index for all urban consumers and all
items increased by 35.51 percent—from
an index value of 161.2 in September
1997 to a value of 218.439 in September
2010. An increase of 35.51 percent in
the $8.00 base figure would lead to a
new figure of $10.84. However, because
the statute directs that the resulting
figure be rounded to the nearest $0.50,
the maximum allowable charge should
be $11.00.
The Commission therefore determines
that the maximum allowable charge for
the year 2011 will be $11.00.
By direction of the Commission.
Donald S. Clark,
Secretary.
[FR Doc. 2010–32296 Filed 12–22–10; 8:45 am]
BILLING CODE 6750–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
[Document Identifier: CMS–10321]
Office of Consumer Information and
Insurance Oversight; Agency
Information Collection Activities:
Proposed Collection; Comment
Request
The Office of Consumer
Information and Insurance Oversight,
HHS.
In compliance with the requirement
of section 3506(c)(2)(A) of the
Paperwork Reduction Act of 1995, the
Office of Consumer Information and
Insurance Oversight (OCIIO) is
publishing the following summary of
proposed collections for public
comment. Interested persons are invited
to send comments regarding this burden
estimate or any other aspect of this
collection of information, including any
of the following subjects: (1) The
necessity and utility of the proposed
information collection for the proper
performance of the agency’s functions;
(2) the accuracy of the estimated
burden; (3) ways to enhance the quality,
utility, and clarity of the information to
be collected; and (4) the use of
automated collection techniques or
other forms of information technology to
minimize the information collection
burden.
1. Type of Information Collection
Request: Extension of a currently
approved collection; Title of
AGENCY:
E:\FR\FM\23DEN1.SGM
23DEN1
Agencies
[Federal Register Volume 75, Number 246 (Thursday, December 23, 2010)]
[Notices]
[Pages 80813-80817]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-32230]
=======================================================================
-----------------------------------------------------------------------
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
[Docket No. AS10-12]
Appraisal Subcommittee (ASC); ASC Rules of Operation; Amended
AGENCY: Appraisal Subcommittee of the Federal Financial Institutions
Examination Council.
ACTION: Notice of adoption of amended ASC Rules of Operation by vote of
the ASC at its December 8, 2010 meeting. The amended ASC Rules of
Operation supersede the ASC Rules of Operation as published in 56 FR
28561 (June 21, 1991), and as previously amended by 56 FR 33451 (July
22, 1991); therefore, 56 FR 28561 and 56 FR 33451 will be withdrawn,
removed, and deleted upon publication of the amended ASC Rules of
Operation.
-----------------------------------------------------------------------
SUMMARY: This notice announces the Appraisal Subcommittee (ASC) of the
Federal Financial Institutions Examination Council's (FFIEC) adoption
of its amended ASC Rules of Operation. The ASC Rules of Operation serve
as corporate bylaws outlining the ASC's purpose, functions, authority,
organization and operation.
SUPPLEMENTARY INFORMATION: Section 1102 (12 U.S.C. 3310) of Title XI of
the Financial Institutions Reform, Recovery, and Enforcement Act of
1989 (Title XI) established the ASC. The Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010 (the Dodd-Frank Act) amended
numerous provisions in Title XI. The amended ASC Rules of Operation
reflect the amendments to Title XI brought about by the Dodd-Frank Act,
and describe, among other things, the organization of ASC meetings,
notice requirements for meetings, quorum requirements, and certain
practices regarding the disclosure of information.
DATES: Effective Date: Immediately.
FOR FURTHER INFORMATION CONTACT: James R. Park, Executive Director, at
(202) 595-7575, or Alice M. Ritter, General Counsel, at (202) 595-7577,
via Internet e-mail at jim@asc.gov and alice@asc.gov, respectively, or
by U.S. Mail at Appraisal Subcommittee, 1401 H Street, NW., Suite 760,
Washington, DC 20005.
* * * * *
ASC Rules of Operation
Article I
Nature and Purpose
Section 1.01. Appraisal Subcommittee Established.
The Appraisal Subcommittee (ASC) is established by Title XI of the
Financial Institutions Reform, Recovery, and Enforcement Act of 1989
(Title XI), as amended by the Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010 (Dodd-Frank Act).
Section 1.02. Definitions.
(1) Appraisal Subcommittee; ASC. The terms ``Appraisal
Subcommittee'' and ``ASC'' mean the Appraisal Subcommittee of the
Federal Financial Institutions Examination Council.
(2) Title XI. The term ``Title XI'' means Title XI of the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (Pub. L 101-
73, 103 Stat. 511 (1989) 12 U.S.C. 3310, 3331-3351).
(3) Federal financial institutions regulatory agencies. The term
``Federal financial institutions regulatory agencies'' means the Board
of Governors of the Federal Reserve System, the Federal Deposit
Insurance Corporation, the Office of the Comptroller of the Currency,
the Office of Thrift Supervision, and the National Credit Union
Administration.
(4) ASC members. The term ``ASC members'' means those persons
designated as representatives to the Appraisal Subcommittee pursuant
to:
a) section 1011 of the Federal Financial Institutions Examination
Council Act of 1978 (12 U.S.C. 3310), as added by section 1102 of Title
XI and amended by section 1473(s) of the Dodd-Frank Act; and
b) the Department of Housing and Urban Development pursuant to 12
U.S.C. 1708(e)(2).
(5) Member agency. The term ``member agency'' means those agencies
authorized to appoint designees to the Appraisal Subcommittee described
in:
a) section 1011 of the Federal Financial Institutions Examination
Council Act of 1978 (12 U.S.C. 3310), as added by section 1102 of Title
XI and amended by section 1473(s) of the Dodd-Frank Act; and
b) the Department of Housing and Urban Development pursuant to 12
U.S.C. 1708(e)(2).
(6) Council. The term ``Council'' means the Federal Financial
Institutions Examinations Council.
(7) Chairperson. The term ``Chairperson'' means the Chairperson of
[[Page 80814]]
the Appraisal Subcommittee selected by the Council.
(8) Vice Chairperson. The term ``Vice Chairperson'' means the Vice
Chairperson of the Appraisal Subcommittee serving as either the
outgoing Chairperson, or selected by the Appraisal Subcommittee in
accordance with section 3.04.a below.
(9) Secretary. The term ``Secretary'' means the Executive Director
of the Appraisal Subcommittee of the Federal Financial Institutions
Examination Council, or his/her designee. The Secretary may delegate
the ministerial duties of Secretary to staff.
(10) Staff. The term ``staff'' means the office personnel of the
Appraisal Subcommittee of the Federal Financial Institutions
Examination Council.
(11) Meeting. The term ``meeting'' means the deliberations
(including those conducted by conference telephone call, or by any
other method) of at least four ASC members where such deliberations
determine or result in the joint conduct or disposition of agency
business. Meetings may be held in open session or closed session as
authorized by law. (See sections 3.06 thru 3.09 below.)
(12) Open Session. The term ``open session'' means a properly
noticed meeting, pursuant to section 3.07 below, of the ASC that is
open to public observation. Members of the public are welcome to attend
and observe, but are required to notify staff in advance in accordance
with established policy.
(13) Closed Session. The term ``closed session'' means a properly
noticed meeting, pursuant to section 3.07 below, of the ASC that is
closed to attendance by ASC members only, and any other persons
requested to be in attendance by the ASC members. The ASC may meet in
closed session to discuss personnel matters, and/or to discuss
Compliance Reviews prior to taking action on final Compliance Review
Reports. The subject matter discussed in any closed session shall be
described in the Federal Register notice of the meeting.
(14) Briefing. The term ``briefing'' typically means informal
background discussions among ASC members and staff which clarify issues
and expose varying views. A briefing is not a meeting, and as such, is
not subject to notice or open session meeting provisions. Briefings may
be called by the Chairperson, ASC members or staff. Briefings may be
held by any means preferable to those attending. Summary notes shall be
taken concerning matters discussed. Briefings may also include sessions
with individuals from outside the agency where ASC members listen to a
presentation and may elicit additional information.
(15) Notation Vote. The term ``notation vote'' means transaction of
business, in accordance with section 3.13 below, by circulation of
written items, when it has been determined that the business to be
conducted is routine or noncontroversial.
(16) Federally related transaction. The term ``federally related
transaction'' means any real estate-related financial transaction
which--
(A) a Federal financial institutions regulatory agency engages in,
contracts for, or regulates; and
(B) requires the services of an appraiser.
Section 1.03. ASC Functions.
The functions of the ASC are set forth in section 1103 of Title XI
(12 U.S.C. 3332).
Section 1.04. Authority.
Except as otherwise provided in Title XI, all authority for
carrying out the functions of the ASC shall reside in the ASC; however,
from time to time, the ASC may delegate any of its authority as it
deems appropriate to ASC members, officers, or employees pursuant to
the ASC Delegations of Authority, or other documents, including, but
not limited to, ASC regulations, Policy Statements, manuals, position
descriptions, orders and certain instructions, or as otherwise
authorized by law. As provided in section 1105 of Title XI (l2 U.S.C.
3334), the Chairperson of the ASC shall have authority to appoint such
officers and staff as may be necessary to carry out the functions of
the ASC.
Article 11
Assessments
Section 2.01. Assessments.
In accordance with section 1109 of Title XI (12 U.S.C. 3338), the
ASC shall have the authority to receive an annual fee of not more than
$40 from each State licensed or certified appraiser eligible to perform
appraisals in federally related transactions. The fee may be modified
up to a maximum of $80 per annum in accordance with section 1109
(a)(4)(A) of Title XI. At such time that section 1124 (a) and (e) of
Title XI are implemented, thereby requiring payment of the annual
registry fee by appraisal management companies, the ASC shall have the
authority to receive an annual fee from each appraisal management
company in accordance with section 1109 (a)(4)(B) of Title XI.
Article III
Organization and Operation of the ASC
Section 3.01. ASC Members.
The members of the ASC shall be those persons described in section
1102 of Title XI (12 U.S.C. 3310), and, pursuant to 12 U.S.C.
1708(e)(2), the Secretary (or designee) of the Department of Housing
and Urban Development. (See section 1.02 (4)).
Section 3.02. General Powers.
The affairs, business and property of the ASC shall be managed by
the Chairperson of the ASC pursuant to the ASC's direction and the
ASC's powers shall include those set forth in section 1106 of Title XI
(12 U.S.C. 3335). The Subcommittee does not have the authority to lease
office space in its own name and must rely on the General Services
Administration (GSA) for the procurement of office space by entering
into an occupancy agreement with the GSA for space leased by the GSA.
Section 3.03. Compensation and Expenses of ASC Members.
Each ASC member shall serve on the ASC without compensation other
than that received from their respective employing Federal agency; but
each ASC member shall be entitled to an advance or reimbursement for
reasonable expenses in carrying out their official duties as an ASC
member. Such advance or reimbursement shall be made only upon written
request accompanied by adequate documentation of such expenses.
Section 3.04. Chairperson of the ASC.
In accordance with section 1104(a) of Title XI (12 U.S.C. 3333(a),
the Council shall elect a Chairperson of the ASC. The term of office of
the Chairperson shall be for a two-year term. The Chairperson's term
shall expire on March 31 every other year. The Chairperson shall carry
out all duties required by Title XI and these Rules, and shall perform
such other duties as from time to time may be assigned by the ASC.
Section 3.04.a Vice Chairperson of the ASC.
The outgoing Chairperson shall serve as the Vice Chairperson for a
period of one year, with the term ending March 31. During the March
meeting, the ASC shall vote upon a Vice Chairperson to serve for the
next one-year term, which shall coincide with the 2nd year of the
Chairperson's two-year term. It is anticipated that the Vice
Chairperson could serve as the next Chairperson, if so elected by the
Council. The Vice Chairperson shall assist the Chairperson as needed,
and shall act on behalf of the ASC in the absence or incapacity of the
Chairperson.
Section 3.05. ASC member Vacating Position in Respective Agency.
A person shall remain an ASC member of the ASC until that person
resigns or is no longer employed by the designating agency, or until
the agency
[[Page 80815]]
head designates a replacement. If the vacating ASC member is
Chairperson of the ASC, a succeeding Chairperson shall be selected by
the Council under section 1104(a) of Title XI (12 U.S.C. 3333(a)).
Section 3.06. Organization of ASC Meetings.
(a) The Chairperson of the ASC shall preside at ASC meetings. In
his or her absence, the Vice Chairperson shall preside at such ASC
meeting.
(b) The ASC shall hold its meetings in public session, but may
close certain portions of its meetings related to personnel matters, or
to discuss Compliance Reviews prior to taking action on final
Compliance Review Reports. The subject matter discussed in any closed
or executive session shall be described in the Federal Register notice
of the meeting.
(c) The Secretary shall draft and transmit the minutes of the
meeting to each ASC member. The Secretary shall be responsible for
recording the minutes, including the full text of each resolution voted
on by the ASC and the substance of each action voted on by the ASC as
well as the vote. The Secretary will be responsible for certifying or
attesting to true copies of the minutes, or other documents, stating
that actions were in fact taken by the ASC. The Secretary will also be
responsible for maintaining and preserving at a single place, available
for inspection at reasonable times by any ASC member or any person
designated by any ASC member, the complete minutes of the proceedings
of the ASC.
(d) Regular meetings of the ASC shall be held in Washington, DC, at
a location designated by the Chairperson, or in such other place as the
ASC may designate. Special meetings shall be held in such place and at
such location as designated by the calling party or parties. Regular
and special meetings shall be noticed as set forth in section 3.07(a)
and (b) below.
(e) Regular meetings of the ASC shall be held at least monthly,
unless not practicable, at the call of the Chairperson. Special
meetings shall be held as provided in section 3.07(b) below.
Section 3.07. Notice of Meetings.
(a) The Secretary shall send a notice of each regular meeting,
whether open session or closed session, to the Federal Register for
publication at least seven (7) days prior to the date the regular
meeting is to be held, and to each ASC member by facsimile or email at
least seven (7) days prior to the date of the regular meeting. Every
regular meeting notice shall specify the date, time, place and subject
matter of the meeting.
(b) The Chairperson or any four (4) or more ASC members may call a
special meeting, in which case, notice posting date, time, place and
subject matter of the special meeting shall be published in the Federal
Register and distributed to each ASC member as soon as practicable.
(c) A waiver of any meeting notice signed by an ASC member shall be
the equivalent of timely receipt by that ASC member of notice. An ASC
member's attendance at any meeting shall constitute waiver of notice of
that meeting unless the ASC member attends solely for the purpose of
objecting to the transaction of any business because the meeting was
not lawfully called or convened.
Section 3.08. Quorum, Manner of Acting and Adjournment.
(a) At any regular or special meeting, the presence of a majority
of the ASC members shall constitute a quorum for the transaction of
business. For the purpose of the preceding sentence, an alternate will
count only if he/she has been so designated in writing by the head of
the respective member agency. The acts voted by a majority of ASC
members present at such meeting shall be the acts of the ASC. An ASC
member who is present at a meeting but who abstains from voting on any
matter shall be counted for purposes of determining whether a quorum is
present, whether that ASC member withdraws from or remains in the
meeting during such vote. A majority of the ASC members present at any
meeting, whether or not there is a quorum present, may adjourn the
meeting. In transacting the business of the ASC, each ASC member shall
be entitled to only one vote.
(b) No item shall be voted upon by the ASC except (1) where notice
that the item will be on the agenda of a regular meeting has been given
pursuant to section 3.07 above, (2) where written notice that the item
will be on the agenda of any meeting is delivered to each ASC member at
least two (2) full business days prior to the date of such meeting, or
(3) upon the unanimous consent of all ASC members.
Section 3.09. Agenda of ASC Meetings.
(a) The agenda for meetings shall be determined by the Chairperson
in consultation with the Secretary, or where appropriate by the four
(4) or more ASC members calling the meeting; provided that the
Chairperson shall include any item on the agenda when he/she receives a
request in writing from any single ASC member at least three (3) full
business days prior to the date of the meeting.
(b) Any ASC member may request during any regular or special
meeting that an item be placed on the agenda of that meeting. The item
shall be placed on the agenda for discussion but only if a majority of
those present approve the request.
Section 3.10. Certain Interest of the ASC members.
No person serving as an officer or employee of the ASC shall be
deemed to have an interest adverse to the interest of the ASC solely
because that person is employed by a Federal agency and assigned to the
ASC. No ASC member shall be required to abstain from voting on any
matter solely because the Federal agency employing that member is or
will be affected. No act of the ASC shall be subject to challenge, or
in any way be affected by participation of said ASC member in such
vote.
Section 3.11. Proxies.
A member agency may designate an alternate from his or her agency
to carry out the ASC member's duties. Such alternate may act in all
matters as an ASC member, except that he/she may not act as the
presiding officer of an ASC meeting.
Section 3.12. Use of Conference Call Communications Equipment.
Any or all ASC members may participate in a meeting through the use
of conference call telephone or similar communications equipment, by
means of which all persons participating in the meeting can
simultaneously speak and hear each other. Any ASC member so
participating in the meeting shall be deemed to be present for all
purposes. Actions taken by the ASC at meetings where one or more ASC
members participate through the use of such equipment, including the
votes of each ASC member, shall be recorded in the minutes of the
meeting.
Section 3.13. Notation Vote: Transaction of Business by Circulation
of Written Items.
Any other provision of these Rules to the contrary notwithstanding,
business may be conducted by the ASC by the circulation of written
items to all ASC members. The Secretary, in consultation with the
Chairperson: (1) Shall determine whether items qualify for this
expedited voting method because they are routine or noncontroversial;
and (2) shall specify a deadline for the receipt of ASC members'
responses. Qualifying items may be transmitted in paper or electronic
format. The Secretary shall confirm each ASC member's actual receipt of
items, and the response period shall be measured from the day of actual
receipt. ASC members may vote in one of three ways: approve,
[[Page 80816]]
disapprove or veto. The matter shall be approved or disapproved by a
majority vote of the ASC members participating in the voting process,
so long as the voting ASC members comprise a quorum, as generally
defined in Section 3.08(a). A vote to veto will cause the matter to be
placed on the agenda of the next scheduled ASC meeting, as governed by
Section 3.09. The disposition of each written item circulated for vote,
including the vote of each ASC member, shall be recorded in the minutes
of the next meeting of the ASC following the date the notation vote
closed.
Article IV
Officers and Employees
Section 4.01. Permanent Officers and Employees.
(a) Except as otherwise specifically directed by the ASC, its
Chairperson shall have power to appoint and terminate such officers and
employees as from time to time are deemed necessary to carry out the
ASC's mission. Position descriptions will be written for all permanent
personnel employed by the ASC. Procedures relative to the appointment,
termination, and compensation practices of the ASC shall be consistent
with the appointment and compensation practices of the Council, or in
accord with the policies set forth in Title 5, United States Code and
applicable OPM rules and regulations.
(b) The ASC may adopt from time to time such rules or regulations
governing the conduct of officers and employees as it deems
appropriate.
Section 4.02. Officers and Employees Detailed From Federal
Agencies.
Any person in the employ of any Federal agency detailed to the ASC
shall be considered an officer or employee of the ASC. Such persons
shall be assigned to and serve the ASC for a designated, but renewable,
period of time, and salaries and benefits received by such officers or
employees shall be paid to them by the agency from which that officer
or employee is assigned. All salaries and benefits received by such
officers and employees shall be reimbursed by the ASC to the detailee's
home agency. Each Federal agency will apply its own rules, regulations,
and policies to the circumstances under which officers or employees
assigned to the ASC may resume their duties at that agency upon
termination of assignment to the ASC.
Article V
Fiscal Year
Section 5.01. Fiscal Year.
The ASC budget shall be prepared on the basis of a fiscal year
ending on September 30th.
Article VI
Amendments
Section 6.01. Amendments. Unless specifically stated herein, any of
these Rules may be altered, amended or repealed, or new Rules may be
adopted at any meeting, regular or special, of the ASC by the
affirmative act of a majority of all ASC members, so long as such
action is consistent with the requirements of applicable law.
Amendments to these Rules shall not be given retroactive effect.
Article VII
Public Information
Section 7.01. Freedom of Information Act.
The Freedom of Information Act (FOIA) is a Federal law that gives
the public the right to make requests for Federal agency records. All
Federal agencies are required to make requested records available
unless the records are protected from disclosure by certain FOIA
exemptions. The ASC has adopted regulations (12 CFR 1102). Subpart D of
the regulations implements FOIA and describes the procedures for
persons to request documents from the ASC. This information is also
available on the ASC website at www.asc.gov.
Section 7.02. Public Statements and Statements to the Press.
No written statements shall be made to the press expressing the
ASC's policy or descriptive of its action except as authorized by the
ASC. Such statements shall be issued, when authorized and approved,
through the office of the Executive Director as delegated by the
Chairperson. Where an individual ASC member is responding on issues
pending before the ASC, that ASC member should use best efforts to
alert other ASC members and the Secretary concerning the substance of
the response as soon as possible.
Section 7.03. Disclaimer.
Except when otherwise authorized by the ASC, individual ASC
members, officers and employees shall include in written statements and
oral presentations the following disclaimer of responsibility:
The Appraisal Subcommittee, as a matter of policy, disclaims
responsibility for any private publication or statement by any of its
Subcommittee members, officers, or employees. The views expressed
herein are those of the author and do not necessarily reflect the views
of the Subcommittee.
The wording of the disclaimer may vary with the circumstances so
long as its substance is clearly communicated. Any written statement or
oral presentation which reflects Subcommittee positions must set forth
those positions accurately and, if it contains differences with
Subcommittee positions, it should clearly state that such positions are
solely those of the author.
Article VIII
Advisory Committee
Section 8.01. Appointment of an Advisory Group.
Subject to the Federal Advisory Committee Act (5 U.S.C. App. 1-14)
and to such procedures as it may from time to time adopt, the ASC may
establish nonvoting advisory group(s). Such advisory group(s) shall
meet with the ASC on a schedule determined by the ASC. Members of the
advisory group(s) may receive from the ASC an allowance, in an amount
to be determined by the ASC, for necessary expenses incurred in
attending such meetings.
Article IX
Administrative Support
Section 9.01. Service of Administrative Support.
(a) To insure that the orderly administration of the affairs of the
ASC is accomplished, administrative support functions shall be provided
by the permanent staff of the ASC with assistance, when needed, from
staff of the member agencies.
(b) The Chairperson shall have the authority to negotiate and
execute agreements regarding personnel, payroll, grant administration,
procurement, and other services, consistent with directives of the ASC.
In executing this authority, the Chairperson shall be authorized to
obtain such administrative support services as he/she deems necessary.
Article X
Report to Congress
Section 10.01. Annual Report to Congress.
In accordance with section 1103 of Title XI (12 U.S.C. 3332), the
ASC shall transmit an annual report to Congress not later than June 15
of each year that describes the manner in which each function assigned
to the Appraisal Subcommittee has been carried out during the preceding
year. The report shall also detail the activities of the Appraisal
Subcommittee, including the results of Compliance Reviews of State
appraiser regulatory agencies, and provide an accounting of disapproved
[[Page 80817]]
actions and warnings taken in the previous year, including a
description of the conditions causing the disapproval and actions taken
to achieve compliance.
Section 10.02. Preparation of Reports.
The Executive Director or other party as designated by the ASC is
directed to prepare in a timely fashion, for review and approval by the
ASC, the annual report and such other documents concerning the
activities or decisions or recommendations of the ASC as is required by
law or requested by the Congress or any other party.
Article XI
Conduct
Section 11.01. Ethics Provision.
The ASC members of the ASC and its officers and employees shall be
required to abide by a code of ethics, consistent with applicable law.
* * * * *
By the Appraisal Subcommittee.
Dated: December 17, 2010.
Deborah S. Merkle,
Chairman.
[FR Doc. 2010-32230 Filed 12-22-10; 8:45 am]
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