Sec. 7. The provisions of sections 1, 2, and 3 of this chapter shall not apply to transactions in equity securities of a domestic stock insurance company if:
(a) such securities shall be registered, or shall be required to be registered, pursuant to section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l); or
(b) such domestic stock insurance company shall not have any class of its equity securities held of record by one hundred (100) or more persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to the provisions of sections 1, 2, and 3 of this chapter except for the provisions of this subdivision.
Formerly: Acts 1965, c.5, s.7. As amended by P.L.252-1985, SEC.135; P.L.3-1989, SEC.153; P.L.124-2018, SEC.63.
Structure Indiana Code
Article 2. Powers and Duties of Insurers
Chapter 10. Equity Securities of Insurance Companies
27-2-10-1. Statement of Equity Ownership and Changes in Holdings
27-2-10-3. Short Sales; Time for Delivery of Securities Sold
27-2-10-4. Exemption of Dealers
27-2-10-5. Exemption of Arbitrage Transactions
27-2-10-6. "Equity Security" Defined
27-2-10-7. Exemption of Sale of Registered Securities or Securities in Closely Held Corporation