Section 26500 does not apply to the sale, delivery, or transfer of a firearm that satisfies all of the following requirements:
- (a) It is made by a person who has ceased operations as a dealer.
- (b) It is made to a dealer, a manufacturer, importer, or wholesaler.
- (c) It is made in accordance with Chapter 44 (commencing with Section 921) of Title 18 of the United States Code and the regulations issued pursuant thereto.
- (d) The transaction is reported to the Department of Justice in a manner and format prescribed by the department.