<html> <head> <title>Rule 20:06:04:20 Exemption for small transactions.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:04:20"> <META NAME="Description" Content="Administrative Rules 20:06:04:20 Exemption for small transactions."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:04:20.&nbsp;&nbsp;Exemption for small transactions.</b> Any acquisition of securities shall be exempt from SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-69">58-5-69</A> where the person effecting the acquisition does not:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;Within 6 months thereafter effect any disposition, otherwise than by way of gifts, of securities of the same class; and</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;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&nbsp; period during which the acquisition occurs.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 4 SDR 6, effective August 9, 1977; 12 SDR 151, 12 SDR 155, effective July 1, 1986.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-73">58-5-73</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-77">58-5-77.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-69">58-5-69.</A></p> </div> </body> </html>