The following motor vehicles are exempt from the Mandatory Financial Responsibility Act:
A. a motor vehicle owned by the United States government, any state or any political subdivision of a state;
B. an implement of husbandry or special mobile equipment that is only incidentally operated on a highway;
C. a motor vehicle operated upon a highway only for the purpose of crossing such highway from one property to another;
D. a commercial motor vehicle registered or proportionally registered in this and any other jurisdiction, provided such motor vehicle is covered by a motor vehicle insurance policy or equivalent coverage or other form of financial responsibility in compliance with the laws of any other jurisdiction in which it is registered;
E. a motor vehicle approved as self-insured by the superintendent of insurance pursuant to Section 66-5-207.1 NMSA 1978; and
F. any motor vehicle when the owner has submitted to the department a signed statement, in the form prescribed by the department, declaring that the vehicle will not be operated on the highways of New Mexico and explaining the reasons therefor.