25 U.S.C. § 5635 — Appraisals and valuations
submitted 10 years ago by Pub. L. 114-178 to r/title-25-INDIANS · 181 words · no verdicts yet
This section centralizes appraisals and valuations of Indian trust property. It also establishes qualifications and finality rules.
(a) Generally. Despite section 5634, within 18 months after June 22, 2016, the Secretary*, consulting Indian tribes and tribal organizations, must ensure that one Department* bureau, agency, or other administrative entity administers appraisals and valuations of Indian trust property. (b) Minimum qualifications. Within 1 year after that date, the Secretary must establish and publish in the Federal Register minimum qualifications for people who prepare those appraisals and valuations. (c) Secretarial approval. If an Indian tribe* or Indian beneficiary submits an appraisal or valuation that meets those qualifications and says the tribe or beneficiary intends it to be considered under this section, the appraisal or valuation (1) needs no additional Secretary review or approval and (2) is final for carrying out the transaction requiring it.
Notwithstanding section 5634 of this title, not later than 18 months after June 22, 2016, the Secretary*, in consultation with Indian tribes and tribal organizations, shall ensure that appraisals and valuations of Indian trust property are administered by a single bureau, agency, or other administrative entity within the Department*.
Not later than 1 year after June 22, 2016, the Secretary shall establish and publish in the Federal Register minimum qualifications for individuals to prepare appraisals and valuations of Indian trust property.
In any case in which an Indian tribe* or Indian beneficiary submits to the Secretary an appraisal or valuation that satisfies the minimum qualifications described in subsection (b), and that submission acknowledges the intent of the Indian tribe or beneficiary to have the appraisal or valuation considered under this section, the appraisal or valuation—
shall not require any additional review or approval by the Secretary; and
shall be considered to be final for purposes of effectuating the transaction for which the appraisal or valuation is required.
Source credit: (Pub. L. 114–178, title III, § 305, June 22, 2016, 130 Stat. 441.)
- 2016Enacted · Pub. L. 114-178 · 130 Stat. 441
A history note hasn’t been published yet. The record shows enactment by Pub. L. 114-178 on 2016-06-22.
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