§ 27-1-35 - Companies not subject to securities regulations.
SECTION 27-1-35
§ 27-1-35 Companies not subject tosecurities regulations. – The provisions of §§ 27-1-29 – 27-1-31 shall not apply to equitysecurities of a domestic stock insurance company if: (1) the securities shallbe registered, pursuant to 15 U.S.C. § 78l, or if (2) the domestic stockinsurance company shall not have any class of its equity securities held ofrecord by five hundred (500) or more persons on the last business day of theyear next preceding the year in which equity securities of the company would besubject to the provisions of §§ 27-1-29 – 27-1-31 except for theprovisions of this clause.