The following are exempt from this subchapter:
1. Financial institutions. A financial institution, as defined in Title 9‑B, section 131, subsections 17 and 17‑A;
2. Insurance companies. An insurance company licensed to do business in this State;
3. Persons performing repairs to own vehicles. A person performing repairs to a vehicle registered in that person's name;
4. Certain retail businesses. A retail business that primarily sells new or rebuilt auto parts and does not buy salvage vehicles to dismantle for inventory; and
5. Towing businesses. A towing business or garage that tows accident-damaged vehicles and stores them while awaiting disposition or that acquires vehicles pursuant to chapter 15, subchapter III, if the vehicles are disposed of through sale or transfer immediately upon gaining ownership.