(1) Notwithstanding any contrary provisions of law and in furtherance of the policies set forth in KRS 355.2-328, at any auction sale of horses, the auctioneer:
(a) May receive bids from the seller, consignor, or his agent, disclosed or undisclosed, if notice has been given in the terms and conditions governing the sale, or otherwise, that liberty for such bidding has been reserved by seller;
(b) Shall conduct the sale with respect to each lot or parcel on a with-reserve basis unless the seller has authorized the auctioneer, in writing, to conduct the sale on a without-reserve basis, in which event the auctioneer shall announce, in explicit terms, that the goods are being sold without reserve; and (c) Shall not be required to announce at any with-reserve sale when the reserve is attained.
(2) Notwithstanding any other provision of this chapter, the following shall not apply to auctions or auctioneers participating in an auction regarding the sale, lease, or exchange of an equine as defined in KRS 230.357(1):
(a) The advertising requirements set forth in KRS 330.230(1), (2), and (7);
(b) The causes justifying disciplinary action set forth in KRS 330.110(1)(l), (m), (n), and (o); or (c) The provisions regulating absolute auctions and reserve auctions set forth in KRS 330.220(5) and (7).