The following rules and regulations shall be applicable to and govern equity securities of all domestic stock insurers, unless:
    (1) 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 unless
    (2) Such domestic stock insurer shall not have any class of its equity securities held of record by 100 or more persons on the last business day of the year next preceding the year in which such securities would be subject to the provisions of sections 625.75, 625.76 and 625.77, F.S., in which event such securities shall be exempt from the provisions of said sections 625.75, 625.76 and 625.77, F.S.
Rulemaking Authority 625.82 FS. Law Implemented 625.75, 625.81 FS. History-New 4-23-66, Repromulgated 12-24-74, Formerly 4-19.01, 4-19.001, 4-143.001.