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2026-07-06 10:51:44 -04:00

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LegalText 25 U.S.C. § 3507 Appraisals us united_states_code code_section 25 INDIANS 37 INDIAN ENERGY 3507 25 U.S.C. § 3507 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc25@119-100.zip /us/usc/t25/s3507 data/legal/raw/us/code/title-25/usc25.xml c346ccd8b6d1c3101d515fead9518ffccb5cd93dedbecf16993391c0ce58651e d4661d83bff6862be548ac8e843ba61e942ed983aade7cf83cb7dbc3dcd08168 8940a19fff0a75326635fb025e2a4b0d5a57ee8c001d227d45502886f92c9d21 2026-07-04 official
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25 U.S.C. § 3507 - Appraisals

Text

(a) In general For any transaction that requires approval of the Secretary and involves mineral or energy resources held in trust by the United States for the benefit of an Indian tribe or by an Indian tribe subject to Federal restrictions against alienation, any appraisal relating to fair market value of those resources required to be prepared under applicable law may be prepared by—

(1) the Secretary;

(2) the affected Indian tribe; or

(3) a certified, third-party appraiser pursuant to a contract with the Indian tribe.

(b) Secretarial review and approval Not later than 45 days after the date on which the Secretary receives an appraisal prepared by or for an Indian tribe under paragraph (2) or (3) of subsection (a), the Secretary shall—

(1) review the appraisal; and

(2) approve the appraisal unless the Secretary determines that the appraisal fails to meet the standards set forth in regulations promulgated under subsection (d).

(c) Notice of disapproval If the Secretary determines that an appraisal submitted for approval under subsection (b) should be disapproved, the Secretary shall give written notice of the disapproval to the Indian tribe and a description of—

(1) each reason for the disapproval; and

(2) how the appraisal should be corrected or otherwise cured to meet the applicable standards set forth in the regulations promulgated under subsection (d).

(d) Regulations The Secretary shall promulgate regulations to carry out this section, including standards the Secretary shall use for approving or disapproving the appraisal described in subsection (a).

(Pub. L. 102486, title XXVI, § 2607, as added Pub. L. 115325, title II, § 204(a), Dec. 18, 2018, 132 Stat. 4463.)