1. A. Any acquisition or disposition of an equity security involved in the deposit of such security under, or the withdrawal of such security from, a voting trust or deposit agreement, and the acquisition or disposition in connection therewith of the certificate representing such security, shall be exempt from the operation of Section 2 of the Act if substantially all of the assets held under the voting trust or deposit agreement immediately after the deposit or immediately prior to the withdrawal, as the case may be, consisted of equity securities of the same class as the security deposited or withdrawn; provided, however, that §7541 shall not apply to the extent that there shall have been either:

   1. 1. a purchase of an equity security of the class deposited and a sale of any certificate representing an equity security of such class; or
   2. 2. a sale of an equity security of the class deposited and a purchase of any certificate representing an equity security of such class (otherwise than in a transaction involved in such deposit or withdrawal or in a transaction exempted by any other provision of the regulations under Section 2 of the Act) within a period of less than six months, which includes the date of the deposit or withdrawal.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Insurance, Commissioner of Insurance, July 1, 1966, amended April 1, 1967.