No information need be disclosed on the registration statement filed pursuant to the provisions of § 58-5A-20 if such information is not material for the purposes of this chapter. Unless the director by rule, regulation, or order provides otherwise, sales, purchases, exchanges, loans, or extensions of credit, or investments, involving one percent or less of an insurer’s admitted assets as of December thirty–first immediately preceding shall not be deemed material for purposes of this section.

Source: SL 1972, ch 267, § 17.