[State Agency Fee Collection Practice for Appraisers]
Highlights
GAO commented on whether the Federal Financial Institutions Examination Council's Appraisal Subcommittee (ASC) had the legal authority to determine that the state of Georgia's fee collection practice was inconsistent with ASC's interpretation of a statute that required state agencies to collect and transmit federal registry fees to ASC on an annual basis. GAO held that ASC had the authority to determine that Georgia's registry practices were inconsistent with ASC's interpretation of the statutory requirement, since: (1) there was no indication from the legislative history that ASC's interpretation was arbitrary or inconsistent with the statutory purpose; and (2) the interpretation reflects a reasonable exercise of ASC's discretion in administering the statute.