This chapter does not apply to the following persons when engaged in an activity otherwise covered by this chapter:

1. (1) A financial institution or an employee of a financial institution if the activity is conducted by the employee on behalf of that financial institution.
2. (2) An automobile rental company or an employee of an automobile rental company if the activity is conducted by the employee on behalf of the automobile rental company.
3. (3) A retail seller of equipment (as defined in IC 26-1-9.1-102 ), or an employee of a retail seller of equipment, if the activity is limited to the repossession of the type of goods routinely sold by the retail seller in the manner authorized by IC 26-1-9.1-609 on behalf of the owner of a security interest in that collateral.
4. (4) An entity or an employee of an entity that primarily finances wholesale and retail transactions related to the purchase or lease of equipment manufactured by the entity's affiliate if the activity is limited to the repossession of the equipment.

As added by P.L.81-2026, SEC.7.