ARSD 20:06:04:29. Exclusions of options and equity securities acquired

The provisions of § 20:06:04:28 shall not apply with respect to any option granted, or other equity security acquired, prior to the date that SDCL 58-5-69, 58-5-71 to 58-5-73, inclusive, and 58-5-70 first become applicable with respect to any class of equity securities of any insurer.