Section 760 IAC 1-12-11 - Exemption of small transactionsAuthority: IC 27-1-3-7
Affected: IC 27-2-10-1
Sec. 11.
Exemption for Small Transactions.
(a) Any acquisition of securities shall be exempt from Section 1 [IC 27-2-10-1 ]where (1) The person effecting the acquisition does not within six months thereafter effect any disposition, otherwise than by way of gift, of securities of the same class, and(2) The person effecting such acquisition does not participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of $3,000 for any six months' period during which the acquisition occurs.(b) Any acquisition or disposition of securities by way of gift, where the total amount of such gifts does not exceed $3,000 in market value for any six months' period, shall be exempt from Section 1 [IC 27-2-10-1 ]and may be excluded from the computations prescribed in paragraph (a)(2).(c) Any person exempted by paragraph (a) or (b) of this section shall include in the first report filed by him after a transaction within the exemption a statement showing his acquisitions and dispositions for each six months' period or portion thereof which has elapsed since his last filing. Department of Insurance; Reg 12,III,Sec 1-8; filed Jun 7, 1966, 9:00 am: Rules and Regs. 1967, p. 105; filed Jan 6, 1970, 8:40 am: Rules and Regs. 1971, p. 172; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFAReadopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA Renumbered Reg 12, II, Sec 1-8 by 1971 amendment.