The Transportation Commission, as established in chapter 1-44 , or local authorities, may exempt any person or motor vehicle from compliance with a traffic law if: (1) The driver or vehicle is participating in a race, competition, contest, or exhibition that is approved by the Transportation Commission or local authorities pursuant to § 32-24-17 , occurring on a public highway, roadway, or parking lot under the jurisdiction of the Transportation Commission or local authorities; and (2) Traffic control is adequate to reasonably assure the safety of all public highway, roadway, or parking lot users and spectators.
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