(a) A farm mutual insurance company may not insure:
(1) a building, or the building’s contents, with more than 40 percent of the building’s floor space or more than 500 square feet of floor space, whichever is less, used for business purposes, except as provided by § 911.151(b)(3); or
(2) any type of commercial or private passenger motor vehicle, except as provided by § 911.151(b)(4).
(b) A farm mutual insurance company may not assume or issue an insurance policy that:
(1) indemnifies an insured for liability to a third party the insured incurs in committing a tortious act; or
(2) covers an insured for liability the insured incurs under a contract to maintain, hold, or store property belonging to another.