(a) This chapter
shall apply to every domestic stock insurer which has any class of equity
security held of record by 100 or more persons.
(b) This chapter shall not apply to any
insurer if 95% or more of its equity securities are owned or controlled by a
parent or an affiliated insurer and the remaining securities are held of record
by less than 500 persons.
domestic stock insurer which files with the Securities and Exchange Commission
forms of proxies, consents, and authorizations complying with the requirements
of the Securities Act of 1933, as amended ( 15 U.S.C.
A. § 77(a) et seq.),
and the applicable regulations promulgated thereunder, shall be exempt from the
provisions of this chapter with respect to any class of securities subject to