69O-143.015. Exemption of Long Term Profits Incident to Sales Within 6 Months of the Exercise of an Option

Transactions that are not subject to Section 628.461, F.S., and that are the result of the following are exempt from Sections 625.75 and 625.76, F.S.:

(1) Acquisitions of shares of stock and stock options under a stock bonus plan, stock option plan, or similar plan securities acquired by redeeming other securities by an insurer;

(2) Consolidations or mergers of insurers that hold over 85 percent of the companies being merged or consolidated;

(3) Acquisitions or dispositions of an equity security involved in the deposit of the security under, or the withdrawal of the security from, a voting trust or deposit agreement; or

(4) Conversions of an insurer’s equity securities into another equity security of the same insurer.

Specific Authority 624.308(1), 625.82 FS. Law Implemented 624.307(2), 625.76 FS. History–New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.15, 4-19.015, Amended 9-22-03, Formerly 4-143.015.