This chapter does not apply to:

1. (1) Any real property interest held by an entity that has received clearance, approval, or a determination of no unresolved national security concerns from the Committee on Foreign Investment in the United States, including any entity operating in compliance with a mitigation or national security agreement under section 721 of the Defense Production Act of 1950, 50 U.S.C. § 4565 (January 1, 2026);
2. (2) The exchange, expansion, purchase, relocation, or sale of a real property interest approved by the governing body of a county, municipality, or other political subdivision of this state;
3. (3) Any real property interest held by a prohibited entity solely for the purpose of securing indebtedness, if the prohibited entity does not take possession of, or obtain voting or managerial control over, the real property interest;
4. (4) Stock ownership in a publicly traded entity by a foreign person, as defined in § 43-2A-1, if the foreign person does not control or operate the publicly traded entity, provided that de minimis stock ownership is not considered control or operation for purposes of this section;
5. (5) Any real property interest held by an individual who is a lawful permanent resident or citizen of the United States, including a dual citizen; or
6. (6) Any real property interest held by an individual with lawful status, as defined in § 32-12-1.1.

Source: SL 2026, ch 177 , § 9.