§ 26.1-05-15 — Rulemaking authority - Liability

The commissioner may adopt any rules necessary to administer sections 26.1-05-11
through 26.1-05-14. The commissioner may classify domestic stock insurance companies,
securities, and other persons or matters within the commissioner's jurisdiction and 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. Sections 26.1-05-11 through 26.1-05-13 do not
impose any liability for any act done or omitted in good faith in conformity with any rule of the
commissioner, notwithstanding that the rule may, after the act or omission, be amended or
rescinded or determined by judicial or other authority to be invalid for any reason.