(A) The provisions of this code regulating the operation, parking and standing of vehicles shall apply to authorized emergency vehicles, as defined in this code, except as follows:
A driver when operating any such vehicle in an emergency, except when otherwise directed by a police officer, may:
1. Park or stand notwithstanding the provisions of this code;
2. Proceed past a red or stop signal or stop sign, but only after slowing down as may be necessary for safe operation;
3. Exceed the prima facie speed limits so long as he does not endanger life and property;
4. Disregard regulations governing directions of movement or turning in specified directions so long as he does not endanger life or property.
(B) Those exemptions hereinbefore granted in reference to the movement of an authorized emergency vehicle shall apply only when the driver of said vehicle sounds a siren, bell or exhaust whistle as may be reasonably necessary, and the vehicle displays a lighted red lamp visible from the front as a warning to others.
(C) The foregoing exemptions shall not, however, protect the driver of any such vehicle from the consequences of his reckless disregard of the safety of others. (1958 Code, ch. IX, art. 3)