Unless otherwise required to be registered as an appraisal management company by state or federal law, KRS 324A.150 to 324A.164 shall not apply to: (1) The federal government, state government, any county or municipal government, or any agency or instrumentality thereof; (2) A person authorized to engage in business as a bank, credit union, or savings and loan association under the laws of the United States, the Commonwealth of Kentucky, or any other state; (3) A real estate broker or real estate agent prop erly licensed or otherwise authorized to do business in the Commonwealth of Kentucky listing or selling real estate; (4) An officer or employee of any entity listed in subsection (1), (2), or (3) of this section when acting within the scope of his or her employment; (5) An entity that is responsible for ensuring that the real estate appraisal activity being performed by an employee is performed in accordance with applicable appraisal standards; (6) An individual who: (a) Is an appraiser; and (b) In the normal course of business enters into an agreement, whether written or otherwise, with another appraiser for the performance of a real estate appraisal activity that the individual cannot complete for any reason, including: 1. Competency; 2. Workload; 3. Schedule; or 4. Geographic location; (7) An individual who: (a) In the normal course of business enters into an agreement, whether written or otherwise, with an appraiser for the performance of real estate appraisal activity; and (b) Under the agreement cosigns the report of the appraiser performing the real estate appraisal upon completion of the real estate appraisal activity; (8) An appraisal management company that contracts with one (1) or more appraisers for the performance of fewer than ten (10) appraisals in this state in a calendar year; or (9) A federally regulated appraisal management company as defined in 12 C.F.R. sec. 34.211(k).
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