- (1) If any provision of this part 6 is found by a court of competent jurisdiction or by the appropriate federal agency not to comply with the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, Pub.L. 101-73, the provision is null and void, but the remaining provisions of this part 6 are valid unless the remaining provisions alone are incomplete and are incapable of being executed in accordance with the legislative intent of this part 6.
- (2) If the regulation of appraisal management companies is repealed from Title XI of the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, Pub.L. 101-73, the board's jurisdiction over these entities is also repealed. Before the repeal, the division shall review the regulation of appraisal management companies as provided in section 24-34-104. If the board's jurisdiction is repealed, the director shall notify the revisor of statutes of the date of the repeal.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 685, § 1, effective October 1.
Editor's note: (1) This section is similar to former § 12-61-722 as it existed prior to 2019.
(2) As of publication date, the revisor of statutes has not received the notice referred to in subsection (2).