<html> <head> <title>Rule 20:06:04:40 Availability of exemption.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:04:40"> <META NAME="Description" Content="Administrative Rules 20:06:04:40 Availability of exemption."> <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>20:06:04:40.&nbsp;&nbsp;Availability of exemption.</b> Notwithstanding §&nbsp;20:06:04:39, if an officer, director or stockholder shall make any purchase, other than a purchase exempted by §§&nbsp;20:06:04:38 to 20:06:04:44, inclusive, of a security in any company involved in the merger or consolidation and any sale, other than a sale exempted by §§&nbsp;20:06:04:38 to 20:06:04:40, inclusive, of a security in any other company involved in the merger or consolidation within any period of less than six months during which the merger or consolidation took place, the exemption provided by §§&nbsp;20:06:04:38 to 20:06:04:40, inclusive, shall be unavailable to such officer, director, or stockholder.</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=58-5-71">58-5-71</A> to <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-5-73">58-5-73.</A></p> </div> </body> </html>