KRS 304.26-060: Investment accounts and transactions.

(1) The provisions of KRS 304.26 -040 do not apply to any purchase and sale, or sale

and purchase, and the provisions of subsection (1) of KRS 304.26 -050 do not apply

to any sale, of an equity security of a domestic stock insurer not then or theretofore

held by him or her in an investment account, by a dealer in the ordinary course of

his or her business and incident to the establishment or maintenance by him or her

of a primary or secondary market (otherwise than on an exchange as defined in the

Securities Exchange Act of 1934) for such security.

(2) The commissioner may, by such rules and regulations as he or she deems necessary

or appropriate in the public interest, define and prescribe terms and conditions with

respect to securities held in an investment acco unt and transactions made in the

ordinary course of business and incident to the establishment or maintenance of a

primary or secondary market.