As used in this chapter, "appraisal company" means a sole proprietorship, firm, corporation, partnership, limited liability company, limited liability partnership, joint venture, trust, or other business unit or association that:

1. (1) performs appraisals on a regular basis for compensation through one (1) or more owners, officers, employees, or agents; or
2. (2) holds itself out to the public as performing appraisals.

As added by P.L.52-2009, SEC.2.