§431:4-211  Exempt transactions. Section 431:4-209 shall not apply to any purchase and sale, or sale andpurchase, and section 431:4-210 shall not apply to any sale, of an equitysecurity of a domestic stock insurance company not then or theretofore held bythe person in an investment account, by a dealer in the ordinary course of thedealer's business and incident to the establishment or maintenance by thedealer of a primary or secondary market (otherwise than on an exchange asdefined in the Securities Exchange Act of 1934) for such security.  Thecommissioner may, by such rules and regulations as the commissioner deemsnecessary or appropriate in the public interest, define and prescribe terms andconditions with respect to securities held in an investment account andtransactions made in the ordinary course of business and incident to theestablishment or maintenance of a primary or secondary market. [L 1987, c 347,pt of §2]