Section 23.09. Application of article; exemptions

1. The provisions of
  article  twenty-three-A  of  the  general  business  law  shall  not  be
  applicable  to offerings subject to the requirements of this article, or
  with respect to such offerings, to producers or principals thereof.
    2. The provisions of subdivisions one and two of section 23.08 of this
  article shall not apply to any ticket distributor who  offers  or  sells
  advance tickets of admission, as set forth in such subdivisions, if such
  ticket distributor or a principal thereof which owns or controls a fifty
  percent  or greater interest in such ticket distributor or which owns or
  controls less than a fifty percent interest but at least  a  twenty-five
  percent interest in such ticket distributor and actively participates in
  the  day-to-day  management  of  such  ticket  distributor  or otherwise
  exercises managerial control:
    (a) has, for a period in excess of ten years,  produced  or  presented
  events  at  the  same  place  of  entertainment or produced or presented
  events under the same corporate or organizational name; or
    (b) controls, is controlled by or under common control with any ticket
  distributor which has, for a period in excess of ten years, produced  or
  presented  events  at  the  same  place  of entertainment or produced or
  presented events under the same corporate or organizational name; or
    (c) maintains minimum net capital of one hundred thousand  dollars  or
  minimum  net  worth  or,  if  a corporation, shareholder's equity of two
  hundred thousand dollars; or
    (d) offers or sells advance tickets of admission to a theatre or other
  place of entertainment as defined in section 23.03 of this  article  (i)
  which  contains  no more than ninety-nine seats for paying customers, or
  (ii) for which the average ticket sale revenues, as  measured  over  the
  preceding  fifty-two  week  period,  does  not  exceed two thousand five
  hundred dollars per week for each week for which tickets are sold; or
    (e)  is  a  not-for-profit,  educational,  charitable,  or  tax-exempt
  organization  which  sells  tickets to an event produced or presented by
  the organization.
    The attorney general may from time to time  make,  amend  and  rescind
  such  rules and regulations as are necessary to carry out the provisions
  of this article, notwithstanding any other provision  of  this  section,
  providing  for  exemptions  therefrom  when  he finds such action is not
  inconsistent with the public interest and defining any terms, whether or
  not  used  in  this  article,  insofar  as  the  definitions   are   not
  inconsistent with the provisions of such article.