(a) Any acquisition of securities shall be exempt from Acts 1965, No. 107, § 1, where the person effecting the acquisition does not:
- (1) Within six (6) months thereafter effect any disposition, otherwise than by way of gift, of securities of the same class; and
- (2) 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-month 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 three thousand dollars ($3,000) in market value for any six-month period, shall be exempt from Section 1 and may be excluded from the computations prescribed in subdivision (a)(2) of this section.
- (c) Any person exempted by subsection (a) or (b) of this section 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-month period or portion thereof which has elapsed since his or her last filing.