US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 28
                    ORGANIZATION AND CORPORATE PROCEDURES
                         OF STOCK AND MUTUAL INSURERS
    41-2866.  CONDITIONS EXEMPTING EQUITY SECURITIES. The provisions of
sections 41-2860--41-2862 shall not apply to equity securities of a domestic
stock insurance company if:
    (a)  Such securities shall be registered, or shall be required to be
registered, pursuant to section 12 of the Securities Exchange Act of 1934, as
amended; or
    (b)  Such domestic stock insurance company shall not have any class of its
equity securities held of record by one hundred (100) or more persons on the
last business day of the year next preceding the year in which equity
securities of the company would be subject to the provisions of sections
41-2860--41-2862 except for the provisions of this subsection (b).