Section 26-A1409. EXEMPTION FOR SMALL TRANSACTIONS

 

1409.1Any acquisition of securities shall be exempt from Section 3(a) if it meets the following requirements:

 

(a)The person effecting the acquisition does not within six (6) months thereafter effect any disposition, otherwise than by gift, of securities of the same class; and

 

(b)The person effecting the acquisition does not participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of three thousand dollars ($3,000) for any six (6) months' period which the acquisition occurs.

 

1409.2Any acquisition or disposition of securities by way of gift, where the total amount of the gifts does not exceed three thousand dollars ($3,000) in market value for any six (6) months's period, shall be exempt from Section 3(a) and may be excluded from the computations prescribed in §1409.1(b).

 

1409.3Any person exempted by §§1409.1 and 1409.2 shall include in the first report filed by him or her after a transaction within the exemption a statement showing his or her acquisitions and dispositions for each six (6) months' period or portion thereof which has elapsed since his or her last filing.