The provisions of this chapter do not apply to any: (1) nonprofit corporation organized pursuant to Chapter 31, Title 33 and exempt from income taxes pursuant to Section 501 of the Internal Revenue Code of 1986; (2) volunteer fire department and rescue squad; (3) cooperative organized pursuant to Title 33; (4) bank, building and loan association, or credit union doing a strictly mutual business; (5) insurance company or association including a fraternal, beneficial, or mutual protection insurance company; (6) foreign corporation whose entire income is excluded from gross income for federal income tax purposes due to a treaty obligation of the United States; or (7) homeowners' association within the meaning of Internal Revenue Code Section 528(c)(1). (8) community development entity certified by the United States Department of the Treasury through the Community Development Financial Institution Fund as a company established to distribute allocations received as a part of the New Market Tax Credit Program.
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