A. The provisions of this article shall not limit the authority of the following institutions to engage in insurance premium financing or apply to:

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(1)     any life insurer authorized to do business in the state;

(2)     any national banking institution; (3)     any state bank;

(4)     any savings and loan association; (5)     any small loan company; or

(6)     any credit union.

B. The licensing and bonding provisions of this article shall not apply to:

(1)     any insurer, other than those exempt from this article pursuant to Paragraph A(1); and

(2)     any insurance agent licensed by this state.

C. This article shall not apply to the financing of insurance premiums in connection with a transaction under the Motor Vehicle Sales Finance Act N.M. Stat. Ann. § 58-19-1 to 58-19-12, or under Sections 56-1-1 to 56-1-15 N.M. Stat. Ann..