The following transactions are exempt from registration:
(1) An offer, sale or transfer by any one person of not more than one membership camping contract for any membership camping operator in any 12-month period, unless the person receives a commission or similar payment for the sale or transfer.
(2) An offer or sale by a government, government agency or other subdivision of a government.
(3) Granting a security interest in a membership camping contract.
(4) An offer, sale or transfer by a membership camping operator of a membership camping contract previously registered by the operator if the offer, sale or transfer constitutes a resale to another owner. [1985 c.639 §4]
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