[Federal Register Volume 75, Number 121 (Thursday, June 24, 2010)]
[Notices]
[Pages 36088-36089]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-15320]


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FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL

[Docket No. AS10-2]


Appraisal Subcommittee; Rules of Operation; Amendment

AGENCY: Appraisal Subcommittee of the Federal Financial Institutions 
Examination Council.

ACTION: Notice of amendment to rules governing the Chairperson and Vice 
Chairperson of the Appraisal Subcommittee.

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SUMMARY: The Appraisal Subcommittee (Subcommittee) of the Federal 
Financial Institutions Examination Council is amending the following 
sections:
    Section 3.04 of the Rules of Operation, which sets forth the term 
of the Chairperson and designation of a person to act in the absence of 
the Chairperson, as amended will define the Chairperson's term to 
expire on March 31 every even-numbered year. The language to designate 
a person to act in the Chairperson's absence will be deleted due to the 
proposed amendment for selection of a Vice Chairperson. A subsection 
3.04.a will be added which sets forth the selection process of the Vice 
Chairperson, and describes the Vice Chairperson's term and duties.
    Section 3.06 of the Rules of Operation designates the Vice 
Chairperson to preside over Subcommittee meetings in the Chairperson's 
absence.

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 [email protected] and [email protected], respectively, or 
by U.S. Mail at Appraisal Subcommittee, 1401 H Street, NW., Suite 760, 
Washington, DC 20005.

SUPPLEMENTARY INFORMATION: The Subcommittee, on May 29, 1991, adopted 
Rules of Operation, which were published at 56 FR 28561 (June 21, 
1991). The Rules of Operation describe, among other things, the 
organization of Subcommittee meetings, notice requirements for 
meetings, quorum requirements and certain practices regarding the 
disclosure of information. The Subcommittee approved by notation vote 
on May 5, 2010, substantive revisions to Sections 3.04 and 3.06 of the 
Rules of Operation to address the appointment of a Vice Chairperson for 
the Subcommittee.
    The Subcommittee is publishing new Sections 3.04, 3.04.a and 3.06 
to conform with 5 U.S.C. 552(a)(1)(C), which requires the publication 
of agency rules of operation in the Federal Register. The notice and 
publication requirements of 5 U.S.C. 553 do not apply to the adoption 
of Sections 3.04 and 3.06 because it is a ``rule of agency 
organization, procedure, or practice'' exempt from the public notice 
and comment process under 5 U.S.C. 553(b)(3)(A).
    Based on the foregoing, the Subcommittee adopts new Sections 3.04, 
3.04.a and 3.06 of the Rules of Operation, as follows, effective 
immediately:

Rules of Operation

* * * * *

Article III Members of the Subcommittee

* * * * *
    Section 3.04. Chairperson of the Subcommittee. The Council shall 
elect a Chairperson of the Subcommittee. The term of office of the 
Chairperson shall be for a two-year term. Section 1104(a)(12 U.S.C. 
3333(a)). The Chairperson's term shall expire on March 31 every even-
numbered year. The Chairperson shall carry out all duties required by 
the Act and these Rules and shall perform such other duties as from 
time to time may be assigned by the Subcommittee
    Section 3.04.a. Vice Chairperson of the Subcommittee. 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 
Subcommittee shall vote upon a Vice Chairperson to serve for the next 
one-year term, which shall coincide with the second 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 Subcommittee in the absence or 
incapacity of the Chairperson.
* * * * *
    Section 3.06. Organization of Subcommittee Meetings.
    (a) The Chairperson of the Subcommittee shall preside at 
Subcommittee meetings. In his or her absence, the Vice Chairperson 
shall preside at such Subcommittee meeting.
    (b) The Secretary, or in the absence of the Secretary, any person 
designated by the Chairperson, shall draft and transmit the minutes of 
the meeting to each member. The Executive Director is appointed to 
serve as Secretary, and shall be responsible for recording the minutes, 
including the full text of each resolution voted on by the Subcommittee 
and the substance of each action voted on by the Subcommittee as

[[Page 36089]]

well as the vote. The Secretary will also be responsible for certifying 
or attesting to true copies, minutes, or other documents stating that 
actions were in fact taken by the Subcommittee. The Secretary will also 
be responsible for maintaining and preserving at a single place, 
available for inspection at reasonable times by any member of the 
Subcommittee or any person designated by any member, the complete 
minutes of the proceedings of the Subcommittee. The Executive Director 
may delegate the ministerial duties of Secretary to Subcommittee staff.
    (c) Regular meetings of the Subcommittee shall be held in 
Washington, DC, at a location designated by the Chairperson, or in such 
other place as the Subcommittee may designate. Special meetings shall 
be held in such place and at such location as designated by the calling 
party or parties.
    (d) Regular meetings of the Subcommittee shall be held at least 
monthly at the call of the Chairperson. Special meetings shall be held 
as provided in section 3.07(b) below.
* * * * *

    By the Appraisal Subcommittee,
    June 16, 2010.
Deborah S. Merkle,
Chairman.
[FR Doc. 2010-15320 Filed 6-23-10; 8:45 am]
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