No provision of KRS Chapter 261 shall be construed as applicable to: (1) A person who offers for sale or trade only livestock which he has owned or has in his possession for a period of thirty (30) days or longer and who is not regularly engaged in the bus iness of buying, selling, trading, or negotiating the transfer of livestock; (2) A person who purchases only livestock for feeding or breeding purposes and retains said livestock in his possession for a period of thirty (30) days or longer and who is not regularly engaged in the business of buying, selling, trading, or negotiating the transfer of livestock; (3) A person engaged in the business of buying and slaughtering livestock for food and in marketing the meat products therefrom, provided all animals pu rchased are slaughtered; (4) A person engaged in the purchase or sale of livestock used exclusively for exhibition or entertainment purposes in the pursuit of a hobby; and (5) A person engaged in sales conducted by or for FFA and 4 -H groups; county, state, or private fairs or shows; and breed or livestock associations.
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