17:17B-4 - Securities held in investment account; transactions made in ordinary course of business; exemption - New Jersey Statutes

17:17B-4.  Securities held in investment account;  transactions made in ordinary course of business;  exemption
    The provisions of section 2 of this act shall not apply to any purchase and  sale, or sale and purchase, and the provisions of section 3 of this act 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 commissioner 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.

     L.1965, c. 57, s. 4.