No provision of KRS Chapter 261 shall be construed as applicable to:
(1) A person who offers for sale or trade only livestock which he has owned or has in his possession for a period of thirty (30) days or longer and who is not regularly engaged in the business of buying, selling, trading, or negotiating the transfer of livestock;
(2) A person who purchases only livestock for feeding or breeding purposes and retains said livestock in his possession for a period of thirty (30) days or longer and who is not regularly engaged in the business of buying, selling, trading, or negotiating the transfer of livestock;
(3) A person engaged in the business of buying and slaughtering livestock for food and in marketing the meat products therefrom, provided all animals purchased are slaughtered;
(4) A person engaged in the purchase or sale of livestock used exclusively for exhibition or entertainment purposes in the pursuit of a hobby; and (5) A person engaged in sales conducted by or for FFA and 4-H groups; county, state, or private fairs or shows; and breed or livestock associations.