(1) Except as provided in this section, domestic nontraditional insurers are subject to the same provisions applicable to other domestic insurers, and nondomestic nontraditional insurers are subject to the same provisions applicable to other nondomestic insurers.
(2) Nontraditional insurers are not subject to:
(a) Section 31A-5-211;
(b) Section 31A-5-217;
(c) Subsection 31A-14-205(1)(a);
(d) Chapter 17, Determination of Financial Condition;
(e) Chapter 18, Investments;
(f) Section 31A-20-106;
(g) Chapter 21, Insurance Contracts in General, if:
(i) their contract forms have been approved by the appropriate regulatory authorities in their state of domicile; and
(ii) these contract forms are standard forms generally issued by those nontraditional insurers in the United States;
(h) Chapter 22, Contracts in Specific Lines; or
(i) Chapter 28, Guaranty Associations.