Tennessee § 56-3-705 - Purchases and sales which are exempt.
Full text of Tennessee Tennessee Code Annotated § 56-3-705 — Purchases and sales which are exempt., with citation guidance and answers to common questions.
§ 56-3-705. Purchases and sales which are exempt.
Section 56-3-703 does not apply to any purchase and sale, or sale and purchase, and § 56-3-704 does not apply to any sale of an equity security of a domestic stock insurance company not then or theretofore held by the dealer in an investment account, by a dealer in the ordinary course of 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 (15 U.S.C. § 78a et seq.), for the security. The commissioner may, by rules and regulations 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. Acts 1965, ch. 95, § 4; T.C.A., §§ 56-253, 56-335.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-3-705
What does Tennessee Code Annotated § 56-3-705 cover?
Section 56-3-705 ("Purchases and sales which are exempt.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 56-3-705?
A common citation format is "Tennessee Code Annotated § 56-3-705" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 56-3-705 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.