§ 27-2-10-7 — Exemption of sale of registered securities or securities in closely held corporation

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.