The provisions of this chapter do not apply to any:

1. (1) nonprofit corporation organized pursuant to Chapter 31 of Title 33 and exempt from income taxes pursuant to Section 501 of the Internal Revenue Code of 1986;
2. (2) volunteer fire department and rescue squad;
3. (3) cooperative organized pursuant to Title 33;
4. (4) bank, building and loan association, or credit union doing a strictly mutual business;
5. (5) insurance company or association including a fraternal, beneficial, or mutual protection insurance company;
6. (6) foreign corporation whose entire income is excluded from gross income for federal income tax purposes due to a treaty obligation of the United States; or
7. (7) homeowners' association within the meaning of Internal Revenue Code Section 528(c)(1).