(1) No inspection shall be required under the Conveyance Safety Act when an owner or user of a conveyance:

(a) Obtains and submits to the State Fire Marshal a certificate of inspection from a third-party inspection company;

(b) Obtains a policy of insurance upon the conveyance from a licensed insurance company;

(c) Files a statement that such conveyance is insured; and

(d) Pays an administrative fee established pursuant to section 81-5,214.

(2) No inspection shall be required under the act when there has been an annual inspection under a city ordinance which meets the standards of the act.