(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(2) If the regulation of appraisal management companies is repealed from Title XI of the federal "Financial Institutions Reform, Recovery, and Enforcement Act of 1989", as amended, Pub.L. 101-73, the board's jurisdiction over these entities is also repealed.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 If the board's jurisdiction is repealed, the director shall notify the revisor of statutes of the date of the repeal.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).