{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-2021.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-2021.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-2021.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-2021.html"}],"law_id":63180,"edition_id":1,"section_id":63180,"structure_id":15246,"section_number":"54.1-2021","catch_line":"Exemptions","history":"2010, c. 508; 2012, c. 405.","full_text":"The provisions of this chapter shall not apply to:\n\n1\n\nAny agency of the federal government or any agency of the Commonwealth or local government;2\n\nAny person or entity that exclusively employs persons on an employer and employee basis for the performance of appraisal services;3\n\nAny person or entity licensed pursuant to § 54.1-2017 that has as its primary business the performance of appraisal services in the Commonwealth in accordance with Chapter 20.1 (§ 54.1-2009 et seq.) and with the Uniform Standards of Professional Appraisal Practice;4\n\nAny person or entity licensed pursuant to § 54.1-2017 that has as its primary business the performance of appraisal services in the Commonwealth but that in the normal course of business enters into an agreement with an independent contract appraiser for the performance of appraisal services that the contracting entity cannot complete either because of the location or type of property in question;5\n\nAny licensed real estate broker performing activities in accordance with Chapter 21 (§ 54.1-2100 et seq.);6\n\nAny officer or employee of an exempt entity described in this chapter when acting in the scope of employment for the exempt entity;7\n\nAn appraisal management company that is a subsidiary owned and controlled by a financial institution that is subject to appraisal independence standards at least as stringent as those under the Truth in Lending Act (15 U.S.C. § 1601 et seq.); or8\n\nA department or unit within a financial institution that is subject to direct regulation by an agency of the United States government that is a member of the Federal Financial Institutions Examination Council or its successor, or to regulation by an agency of this state, that receives a request for the performance of an appraisal from one employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser that is an independent contractor to the institution, except that an appraisal management company that is a wholly owned subsidiary of a financial institution shall not be considered a department or unit within a financial institution for the purposes of this subdivision.","order_by":null,"text":{"0":{"id":230370,"text":"The provisions of this chapter shall not apply to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":230371,"text":"Any agency of the federal government or any agency of the Commonwealth or local government;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":230372,"text":"Any person or entity that exclusively employs persons on an employer and employee basis for the performance of appraisal services;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":230373,"text":"Any person or entity licensed pursuant to § 54.1-2017 that has as its primary business the performance of appraisal services in the Commonwealth in accordance with Chapter 20.1 (§ 54.1-2009 et seq.) and with the Uniform Standards of Professional Appraisal Practice;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":230374,"text":"Any person or entity licensed pursuant to § 54.1-2017 that has as its primary business the performance of appraisal services in the Commonwealth but that in the normal course of business enters into an agreement with an independent contract appraiser for the performance of appraisal services that the contracting entity cannot complete either because of the location or type of property in question;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":230375,"text":"Any licensed real estate broker performing activities in accordance with Chapter 21 (§ 54.1-2100 et seq.);","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":230376,"text":"Any officer or employee of an exempt entity described in this chapter when acting in the scope of employment for the exempt entity;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":230377,"text":"An appraisal management company that is a subsidiary owned and controlled by a financial institution that is subject to appraisal independence standards at least as stringent as those under the Truth in Lending Act (15 U.S.C. § 1601 et seq.); or","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":230378,"text":"A department or unit within a financial institution that is subject to direct regulation by an agency of the United States government that is a member of the Federal Financial Institutions Examination Council or its successor, or to regulation by an agency of this state, that receives a request for the performance of an appraisal from one employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser that is an independent contractor to the institution, except that an appraisal management company that is a wholly owned subsidiary of a financial institution shall not be considered a department or unit within a financial institution for the purposes of this subdivision.","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7"}},"ancestry":[{"id":15246,"edition_id":1,"name":"Real Estate Appraisal Management Companies","identifier":"20.2","label":"chapter","depth":3,"order_by":1,"parent_id":12755,"metadata":{},"date_created":"2026-06-26 03:53:16","date_modified":"2026-06-26 03:53:16","permalink":{"id":239885,"object_type":"structure","relational_id":15246,"identifier":"20.2","token":"54.1\/II\/20.2","url":"\/54.1\/II\/20.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12755,"edition_id":1,"name":"Professions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239415,"object_type":"structure","relational_id":12755,"identifier":"II","token":"54.1\/II","url":"\/54.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80792,"structure_id":15246,"section_number":"54.1-2020","catch_line":"Definitions","url":"\/54.1-2020\/","token":"54.1\/II\/20.2\/54.1-2020","metadata":false},{"id":63180,"structure_id":15246,"section_number":"54.1-2021","catch_line":"Exemptions","url":"\/54.1-2021\/","token":"54.1\/II\/20.2\/54.1-2021","metadata":false},{"id":58025,"structure_id":15246,"section_number":"54.1-2021.1","catch_line":"Appraisal management companies; license required; posting of bond or letter of credit","url":"\/54.1-2021.1\/","token":"54.1\/II\/20.2\/54.1-2021.1","metadata":false},{"id":85232,"structure_id":15246,"section_number":"54.1-2022","catch_line":"Appraisal management companies","url":"\/54.1-2022\/","token":"54.1\/II\/20.2\/54.1-2022","metadata":false},{"id":78188,"structure_id":15246,"section_number":"54.1-2022.1","catch_line":"Appraiser compensation","url":"\/54.1-2022.1\/","token":"54.1\/II\/20.2\/54.1-2022.1","metadata":false},{"id":83506,"structure_id":15246,"section_number":"54.1-2023","catch_line":"Penalty","url":"\/54.1-2023\/","token":"54.1\/II\/20.2\/54.1-2023","metadata":false}],"previous_section":{"id":80792,"structure_id":15246,"section_number":"54.1-2020","catch_line":"Definitions","url":"\/54.1-2020\/","token":"54.1\/II\/20.2\/54.1-2020","metadata":false},"next_section":{"id":58025,"structure_id":15246,"section_number":"54.1-2021.1","catch_line":"Appraisal management companies; license required; posting of bond or letter of credit","url":"\/54.1-2021.1\/","token":"54.1\/II\/20.2\/54.1-2021.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-2021\/","history_text":"

This law was first created in 2010. The record of its establishment is cataloged in chapter 508<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2012, chapter 405<\/a>.<\/p>","references":false,"refers_to":[{"id":87406,"section_number":"54.1-2009","catch_line":"Definitions","order_by":null,"url":"\/54.1-2009\/"},{"id":59132,"section_number":"54.1-2017","catch_line":"Use of terms \"Licensed Residential Real Estate Appraiser,\" \"Certified Residential Real Estate Appraiser,\" and \"Certified General Real Estate Appraiser\"; authentication of reports","order_by":null,"url":"\/54.1-2017\/"},{"id":74059,"section_number":"54.1-2100","catch_line":"Definitions","order_by":null,"url":"\/54.1-2100\/"}],"permalink":{"id":239891,"object_type":"law","relational_id":63180,"identifier":"54.1-2021","token":"54.1\/II\/20.2\/54.1-2021","url":"\/54.1-2021\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-2021\/","token":"54.1\/II\/20.2\/54.1-2021","dublin_core":{"Title":"Exemptions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-2021","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The provisions of this chapter shall not apply to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Any agency of the federal government or any agency of the Commonwealth or local government; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Any person or entity that exclusively employs persons on an employer and employee basis for the performance of appraisal services; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any person or entity licensed pursuant to § 54.1-2017<\/a> that has as its primary business the performance of appraisal services in the Commonwealth in accordance with Chapter 20.1 (§ 54.1-2009<\/a> et seq.) and with the Uniform Standards of Professional Appraisal Practice; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any person or entity licensed pursuant to § 54.1-2017<\/a> that has as its primary business the performance of appraisal services in the Commonwealth but that in the normal course of business enters into an agreement with an independent contract<\/span> appraiser for the performance of appraisal services that the contracting entity cannot complete either because of the location or type of property in question; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Any licensed real estate broker performing activities in accordance with Chapter 21 (§ 54.1-2100<\/a> et seq.); <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Any officer or employee of an exempt entity described in this chapter when acting in the scope of employment for the exempt entity; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> An appraisal management company that is a subsidiary owned and controlled by a financial institution that is subject to appraisal independence standards at least as stringent as those under the Truth in Lending Act (15 U.S.C. § 1601 et seq.); or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> A department or unit within a financial institution that is subject to direct regulation by an agency of the United States government that is a member of the Federal Financial Institutions Examination Council or its successor, or to regulation by an agency of this state, that receives a request for the performance of an appraisal from one employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser that is an independent contractor to the institution, except that an appraisal management company that is a wholly owned subsidiary of a financial institution shall not be considered a department or unit within a financial institution for the purposes of this subdivision. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXEMPTIONS (\u00a7 54.1-2021)\n\nThe provisions of this chapter shall not apply to:\n\n1. Any agency of the federal government or any agency of the Commonwealth or\nlocal government;\n\n2. Any person or entity that exclusively employs persons on an employer and\nemployee basis for the performance of appraisal services;\n\n3. Any person or entity licensed pursuant to § 54.1-2017 that has as its\nprimary business the performance of appraisal services in the Commonwealth in\naccordance with Chapter 20.1 (§ 54.1-2009 et seq.) and with the Uniform\nStandards of Professional Appraisal Practice;\n\n4. Any person or entity licensed pursuant to § 54.1-2017 that has as its\nprimary business the performance of appraisal services in the Commonwealth but\nthat in the normal course of business enters into an agreement with an\nindependent contract appraiser for the performance of appraisal services that\nthe contracting entity cannot complete either because of the location or type of\nproperty in question;\n\n5. Any licensed real estate broker performing activities in accordance with\nChapter 21 (§ 54.1-2100 et seq.);\n\n6. Any officer or employee of an exempt entity described in this chapter when\nacting in the scope of employment for the exempt entity;\n\n7. An appraisal management company that is a subsidiary owned and controlled by\na financial institution that is subject to appraisal independence standards at\nleast as stringent as those under the Truth in Lending Act (15 U.S.C. §\n1601 et seq.); or\n\n8. A department or unit within a financial institution that is subject to direct\nregulation by an agency of the United States government that is a member of the\nFederal Financial Institutions Examination Council or its successor, or to\nregulation by an agency of this state, that receives a request for the\nperformance of an appraisal from one employee of the financial institution, and\nanother employee of the same financial institution assigns the request for the\nappraisal to an appraiser that is an independent contractor to the institution,\nexcept that an appraisal management company that is a wholly owned subsidiary of\na financial institution shall not be considered a department or unit within a\nfinancial institution for the purposes of this subdivision.\n\nHISTORY: 2010, c. 508; 2012, c. 405.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}