§431:4-211  Exempt transactions. 
Section 431:4-209 shall not apply to any purchase and sale, or sale and
purchase, and section 431:4-210 shall not apply to any sale, of an equity
security of a domestic stock insurance company not then or theretofore held by
the person in an investment account, by a dealer in the ordinary course of the
dealer's business and incident to the establishment or maintenance by the
dealer of a primary or secondary market (otherwise than on an exchange as
defined in the Securities Exchange Act of 1934) for such security.  The
commissioner may, by such rules and regulations as the commissioner 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. [L 1987, c 347,
pt of §2]