ARSD 20:06:04:40. Availability of exemption

Notwithstanding § 20:06:04:39, if an officer, director or stockholder shall make any purchase, other than a purchase exempted by §§ 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 §§ 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 §§ 20:06:04:38 to 20:06:04:40, inclusive, shall be unavailable to such officer, director, or stockholder.