(a) The provisions and penalties of this chapter shall not apply to:
(i) The possession or use of hemp or hemp products for any purpose or application;
(ii) Persons in possession of any controlled substances for purposes of disposal in accordance with 21 C.F.R. part 1317.30 and 21 C.F.R. part 1317.35;
(iii) Hemp production, processing or testing in accordance with the provisions of W.S. 11-51-101 through 11-51- 107 and 14-3-310.
(b) As used in this section:
(i) "Hemp" or "hemp product" means all parts, seeds and varieties of the plant cannabis sativa l. or a product made from that plant with no synthetic substances and with a THC concentration of not more than three-tenths of one percent (0.3%) on a dry weight basis;
(ii) "Synthetic substance" means as defined by W.S. 11-51-101(a)(viii);
(iii) "THC" means as defined by W.S. 11-51- 101(a)(vii).