Any acquisition of securities shall be exempt from SDCL 58-5-69 where the person effecting the acquisition does not:

1. (1) Within 6 months thereafter effect any disposition, otherwise than by way of gifts, of securities of the same class; and
2. (2) Participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of $3,000 for any 6-month period during which the acquisition occurs.

Source: 4 SDR 6, effective August 9, 1977; 12 SDR 151, 12 SDR 155, effective July 1, 1986.

General Authority: SDCL 58-5-73 , 58-5-77.

Law Implemented: SDCL 58-5-69.