(1) A motor vehicle used in a ride-sharing arrangement is not a bus or commercial vehicle under:
(a) Title 41, Chapter 1a, Motor Vehicle Act, relating to registration; and
(b) Title 41, Chapter 6a, Traffic Code, relating to equipment requirements and rules of the road.
(2) The driver of a vehicle used in a ride-sharing arrangement is not a chauffeur and he is not transporting persons for compensation under the driver licensing provisions of Title 53, Chapter 3, Uniform Driver License Act.