(1) Any acquisition of securities shall be exempt from RCW 48.08.110
(a) The person effecting the acquisition does not within six months thereafter effect any disposition, otherwise than by way of gift, or securities of the same class, and
(b) The person effecting such acquisition does not participate in acquisitions or in dispositions of securities of the same class having a total market value in excess of $3,000 for any six months' period during which the acquisition occurs.
(2) Any acquisition or disposition of securities by way of gift where the total amount of such gifts does not exceed $3,000 in market value for any six months' period, shall be exempt from RCW 48.08.110
and may be excluded from the computations prescribed in subdivision (1)(b).
(3) Any person exempted by subsection (1) or (2) of this section shall include in the first report filed by him after a transaction within the exemption a statement showing his acquisitions and dispositions for each six months' period or portion thereof which has elapsed since his last filing.