Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company
Subchapter B - Regulations under Section 1525 of the Act
Section XIII-7511 - Ownership of More than 10 Percent of an Equity Security

A. In determining, for the purpose of Section 1525 of the Act whether a person is the beneficial owner, directly or indirectly, of more than 10 percent of any class of any equity security, such class shall be deemed to consist of the total amount of such class outstanding, exclusive of any securities of such class held by or for the account of the insurer or a subsidiary of the insurer; except that for the purpose of determining percentage ownership of voting trust certificates or certificates of deposit for equity securities, the class of voting trust certificates or certificates of deposit shall be deemed to consist of the amount of voting trust certificates or certificates of deposit issuable with respect to the total amount of outstanding equity securities of the class which may be deposited under the voting trust agreement or deposit agreement in question, whether or not all of such outstanding securities have been so deposited. For the purpose of §7511 a person acting in good faith may rely on the information contained in the latest Convention Form Statement filed with the commissioner with respect to the amount of securities of a class outstanding or in the case of voting trust certificates or certificates of deposit the amount thereof issuable.