Underground cable installed under a building shall be in a raceway.
Exception: Type MC Cable shall be permitted under a building without installation in a raceway where the cable is listed and identified for direct burial or concrete encasement and one or more of the following applies:
1. The metallic covering is impervious to moisture.
2. A moisture-impervious jacket is provided under the metal covering.
3. The insulated conductors under the metallic covering are listed for use in wet locations, and a corrosion-resistant jacket is provided over the metallic sheath.