Prohibitions; penalty; exemption

(a) Unless licensed in accordance with the provisions of this chapter, a person shall not: (1) perform an appraisal in a federally related transaction when a licensed or certified appraiser is required by the Act; or (2) use in connection with his or her name any letters, words, or insignia indicating that he or she is a State certified or licensed real estate appraiser. (b) An individual who violates a provision of subsection (a) of this section shall be subject to the penalties provided in 3 V.S.A. § 127. (c) A registered appraisal management company shall not be required to be licensed in order to acquire and provide finished appraisals to third parties.