<html> <head> <title>Rule 20:06:04:33 Exemption of long-term profits incident to sales within six months of the exercise of an option.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:04:33"> <META NAME="Description" Content="Administrative Rules 20:06:04:33 Exemption of long-term profits incident to sales within six months of the exercise of an option."> <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>20:06:04:33.&nbsp;&nbsp;Exemption of long-term profits incident to sales within six months of the exercise of an option.</b> To the extent specified in §&nbsp;20:06:04:33 there is hereby exempted as not comprehended within the purpose of SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-71">58-5-71</A> to <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-73">58-5-73</A>, inclusive, any transaction or transactions involving the purchase and sale, or sale and purchase, of any equity security where such purchase is pursuant to the exercise of an option or similar right either acquired more than six months before its exercise, or acquired pursuant to the terms of an employment contract entered into more than six months before its exercise.</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=58-5-70">58-5-70</A> to <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-73">58-5-73.</A></p> </div> </body> </html>