725.55(A) General. Cables and conductors of Class 2 and Class 3 circuits shall not be placed in any cable, cable tray, compartment, enclosure, manhole, outlet box, device box, raceway, or similar fitting with conductors of electric light, power, Class 1, non?power-limited fire alarm circuits, and medium power network-powered broadband communications circuits unless permitted by 725.55(B) through (J).
725.52 (A)
Exception No. 2: Class 2 and Class 3 circuits shall be permitted to be reclassified and installed as Class 1 circuits if the Class 2 and Class 3 markings required in 725.42 are eliminated and the entire circuit is installed using the wiring methods and materials in accordance with Part II, Class 1 circuits.
FPN:Class 2 and Class 3 circuits reclassified and installed as Class 1 circuits are no longer Class 2 or Class 3 circuits, regardless of the continued connection to a Class 2 or Class 3 power source.
I don't have a code reference, but I would think the exposed terminals on the transformer would still be a violation.What if you used a cable assembly rated at the same or higher voltage as the panel.Do the windings of the trans take control ???Are they rated ???