US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 28
                    ORGANIZATION AND CORPORATE PROCEDURES
                         OF STOCK AND MUTUAL INSURERS
    41-2863.  PURCHASES AND SALES WHICH ARE EXEMPT. The provisions of section
41-2861 shall not apply to any purchase and sale, or sale and purchase, and
the provisions of section 41-2862 shall not apply to any sale of an equity
security of a domestic stock insurance company not then or theretofore held by
him in an investment account, by a dealer in the ordinary course of his
business and incident to the establishment or maintenance by him of a primary
or secondary market (otherwise than on an exchange as defined in the
Securities Exchange Act of 1934) for such security. The director of the
department of insurance may, by such rules and regulations as he deems
necessary or appropriate in the public interest, define and prescribe terms
and conditions with respect to securities held in an investment account and
transactions made in the ordinary course of business and incident to the
establishment or maintenance of a primary or secondary market.