Securities underwriting, agreements to withhold or repurchase, prohibited.

No insurer shall

(1) participate in the underwriting of the marketing of securities in advance of their issuance or enter into any transaction for such underwriting for the account of such insurer jointly with any other person; or

(2) enter into any agreement to withhold from sale any of its property, or to repurchase any property sold by it.

[1947 c 79 § .13.28; Rem. Supp. 1947 § 45.13.28.]