eLaws | eCases | Virginia Code | Virginia Courts | Counties & Cities of Virginia | Code of Federal Regulations |
 Virginia Administrative Code (Last Updated: January 10, 2017)
 Title 14. Insurance
 Agency 5. State Corporation Commission, Bureau of Insurance
 Chapter 250. Rules, Regulations and Forms Relating to Restrictions on the Purchase and Saleof Equity Securities of Domestic Stock Insurance Companies

  Section 100. Exemption for small transactions  

Latest version.

  • A. Any acquisition of securities shall be exempt from subsection A of the Act (Section 38.2-214 of the Code of Virginia) where:

    1. The person effecting such acquisition does not within six months thereafter affect any disposition, otherwise than by way of gift, of securities of the same class, and

    2. The person effecting such acquisition does not participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of $3,000 for any six months' 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 $3,000 in market value for any six months' period, shall be exempt from subsection A of the Act 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 after a transaction within the exemption a statement showing his acquisitions and dispositions for each six months' period or portion thereof which has elapsed since his last filing.

Historical Notes

Derived from Regulation 5, Case No. 18773, Rule 10, eff. April 1, 1970.

Statutory Authority

§ 38.2-214 of the Code of Virginia.