(1) The provisions of this chapter do not apply to the following:
(a) An appraisal management company that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institution regulatory agency; or
(b) An appraiser that enters into an agreement, whether written or otherwise, with another appraiser for the performance of an appraisal, and upon completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the appraiser who requested the completion of the appraisal.
(2) For the purposes of this section, "federal financial institution regulatory agency" means the same as in Title 12 U.S.C. Sec. 3350.