The following entities may not participate in a transaction under this chapter: (1) a financial institution; in this paragraph, “financial institution” has the meaning given in AS 06.01.050;
(2) an insurer regulated by AS 21, including a fraternal benefit society regulated under AS 21.84;
(3) a business and industrial development corporation under AS 10.10;
(4) a BIDCO under AS 10.13;
(5) a cooperative under AS 10.15;
(6) a cooperative under AS 10.25 (Electric and Telephone Cooperative Act);
(7) a public corporation; or
(8) a municipality.