The provisions of NRS 645C.600 to 645C.740, inclusive, do not apply to:
1. A person, limited-liability company, partnership, association or corporation other than an appraisal management company which, in the normal course of its business, employs persons for the performance of real estate appraisal services; or
2. An appraisal management company that is a subsidiary owned and controlled by an insured depository institution or an insured credit union and is regulated by a federal financial institutions regulatory agency. Such an appraisal management company is not required to register with the State but must pay an annual registry fee to the Division in an amount determined by the Appraisal Subcommittee in accordance with federal law.