(1) The following transactions are exempt from registration under this chapter:

     (a) An offer or sale by a government or governmental agency;

     (b) A bona fide pledge of a camping resort contract; and

     (c) Offerings and dispositions of up to three resale camping resort contracts by purchasers thereof on their own behalf or by third parties brokering on behalf of purchasers, other than resale contracts forfeited by or placed into an operator's sale inventory. All other sales of resale camping resort contracts by any person or business requires registration under this chapter.

     (2) The director may, by rule or order, exempt any person, wholly or partially, from any or all requirements of this chapter if the director finds the requirements are not necessary for the protection of the public health, safety, and welfare.

[2005 c 112 § 2; 1988 c 159 § 4.]