Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 250. Rules, Regulations and Forms Relating to Restrictions on the Purchase and Sale of Equity Securities of Domestic Stock Insurance Companies

14VAC5-250-100. Exemption for Small Transactions.

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.

Statutory Authority

§ 38.2-214 of the Code of Virginia.

Historical Notes

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

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.