--- title: SB 284. "Georgia Uniform Securities Act of 2008,"; issuance of orders by the Commissioner of Securities directing persons who have violated certain securities provisions to return; authorize collection: bills id: 2025-2026/sb284 cite_as: SB 284, 2025-2026 Regular Session (Ga.) canonical_url: https://georgiacommons.org/bills/2025-2026/sb284 md_url: https://georgiacommons.org/bills/2025-2026/sb284.md text_url: https://georgiacommons.org/bills/2025-2026/sb284/text source_url: https://www.legis.ga.gov/legislation/70926 date: 2026-04-22 status: passed corpus_version: bills-2026-09-13 license: Public record of the Georgia General Assembly, via LegiScan; see about.md publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice. up: https://georgiacommons.org/bills/2025-2026.md previous: https://georgiacommons.org/bills/2025-2026/sb283.md next: https://georgiacommons.org/bills/2025-2026/sb285.md index: https://georgiacommons.org/bills/index.md omitted: votes and history omitted_chars: 1434 omitted_url: https://georgiacommons.org/bills/2025-2026/sb284.md?full=1 bill_number: SB 284 session: 2025-2026 Regular Session session_slug: 2025-2026 chamber: Senate bill_type: bill status_date: 2026-04-22 last_action: Effective Date 2026-04-22 sponsors: - Larry Walker - Matt Brass - John Kennedy - Brian Strickland - Carden Summers - Kay Kirkpatrick - Clint Dixon - Harold Jones - Sonya Halpern - Scott Hilton text_version: Enrolled has_text: true legiscan_url: https://legiscan.com/GA/bill/SB284/2025 upstream_id: 1986158 summaries_model: claude-sonnet-5 topic_tags: - securities fraud enforcement - investor protection - school construction funding - public works bidding - roofing contracts --- # SB 284. "Georgia Uniform Securities Act of 2008,"; issuance of orders by the Commissioner of Securities directing persons who have violated certain securities provisions to return; authorize ## Text Senate Bill 284 By: Senators Walker III of the 20th, Brass of the 6th, Kennedy of the 18th, Strickland of the 42nd, Summers of the 13th and others AS PASSED A BILL TO BE ENTITLED AN ACT To amend Chapter 5 of Title 10 of the Official Code of Georgia Annotated, the "Georgia Uniform Securities Act of 2008," so as to authorize the issuance of orders by the Commissioner of Securities directing persons who have violated certain securities provisions to return to investors, customers, or clients sums paid in connection with securities purchases; to amend Part 10 of Article 6 of Chapter 2 of Title 20 of the Official Code of Georgia Annotated, relating to capital outlay funds under the "Quality Basic Education Act," so as to provide for the award of low-wealth capital outlay grants to qualifying local school systems that award certain contracts for roofing improvements to suppliers that meet certain criteria; to provide for such criteria; to amend Chapter 91 of Title 36 of the Official Code of Georgia Annotated, relating to public works bidding, so as to provide that certain contracts for roofing improvements with suppliers that meet certain criteria shall be deemed to have complied with notice and competitive award requirements for certain contracts; to provide for such criteria; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes. BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: SECTION 1. Chapter 5 of Title 10 of the Official Code of Georgia Annotated, the "Georgia Uniform Securities Act of 2008," is amended by revising Code Section 10-5-73, relating to cease and desist orders, denying, revoking, or conditioning exemptions for broker-dealers, and civil penalties, as follows: "10-5-73. (a) If the Commissioner determines that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this chapter or a rule adopted or order issued under this chapter or that a person has materially aided, is materially aiding, or is about to materially aid an act, practice, or course of business constituting a violation of this chapter or a rule adopted or order issued under this chapter, the Commissioner may: (1) Issue an order directing the person to cease and desist from engaging in the act, practice, or course of business or to take other action necessary or appropriate to comply with this chapter; (2) Issue an order denying, suspending, revoking, or conditioning the exemptions for a broker-dealer under subparagraph (b)(1)(D) or (b)(1)(F) of Code Section 10-5-30 or an investment adviser under subparagraph (b)(1)(C) of Code Section 10-5-32; or (3) Issue an order under Code Section 10-5-13; or (4) Issue an order directing the person to return to investors, customers, or clients the principal dollar amount of their securities purchases, as well as all moneys collected in connection with those securities purchases, if the Commissioner determines that the person has engaged or is engaging in an act, practice, or course of business constituting a violation of Code Section 10-5-50, 10-5-51, or 10-5-54 or that the person has materially aided or is materially aiding in an act, practice, or course of business constituting a violation of Code Section 10-5-50, 10-5-51, or 10-5-54. (b) An order under subsection (a) of this Code section is effective on the date of issuance. Upon issuance of the order, the Commissioner shall promptly serve each person subject to the order with a copy of the order and a notice that the order has been entered. The order must shall include a statement whether the Commissioner will seek a civil penalty or costs of the investigation, a statement of the reasons for the order, and notice that, within 30 days after receipt of a request in a record from the person, the matter will be scheduled for a hearing. If a person subject to the order does not request a hearing and none is ordered by the Commissioner within 30 days after the date of service of the order, the order becomes final as to that person by operation of law. If a hearing is requested or ordered, the Commissioner, after notice of and opportunity for hearing to each person subject to the order, may modify or vacate the order or extend it until final determination. (c) If a hearing is requested or ordered pursuant to subsection (b) of this Code section, a hearing must shall be held pursuant to the provisions of Chapter 13 of Title 50, the 'Georgia Administrative Procedure Act' and this chapter. A final order may shall not be issued unless the Commissioner makes findings of fact and conclusions of law in a record. The final order may make final, vacate, or modify the order issued under subsection (a) of this Code section. (d) In a final order under subsection (c) of this Code section, the Commissioner may impose a civil penalty up to $50,000.00 for a single violation or up to $500,000.00 for more than one violation. (e) In a final order under subsection (c) of this Code section, the Commissioner may charge the actual cost of an investigation or proceeding for a violation of this chapter or a rule adopted or order issued under this chapter. (f) If a petition for judicial review of a final order is not filed in accordance with Code Section 10-5-78, the Commissioner may file a certified copy of the final order with the clerk of a court of competent jurisdiction. The order so filed has the same effect as a judgment of the court and may be recorded, enforced, or satisfied in the same manner as a judgment of the court. (g) If a person does not comply with an order under this Code section, the Commissioner may petition a court of competent jurisdiction to enforce the order. The court may shall not require the Commissioner to post a bond in an action or proceeding under this Code section. If the court finds, after service and opportunity for hearing, that the person was not in compliance with the order, the court may adjudge the person in civil contempt of the order. The court may impose a further civil penalty against the person for contempt in an amount not less than $5,000.00 but not greater than $50,000.00 for each violation and may grant any other relief the court determines is just and proper in the circumstances." SECTION 2. Part 10 of Article 6 of Chapter 2 of Title 20 of the Official Code of Georgia Annotated, relating to capital outlay funds under the "Quality Basic Education Act," is amended in Code Section 20-2-262, relating to low-wealth capital outlay grants to local school systems and criteria for eligibility, by redesignating subsection (g) as subsection (h) and by adding a new subsection to read as follows: "(g) Each local school system which meets the eligibility criteria in subsection (d) of this Code section shall, upon utilizing a contract for the improvement of the roof of an existing structure or building to a supplier approved by a cooperative purchasing organization and designated by the Department of Administrative Services as an authorized source of supply pursuant to subsection (i) of Code Section 36-91-21, receive low-wealth capital outlay grants pursuant to this Code section for such roofing improvement, provided that such improvement is included in the local school system's most recently approved local facilities plan, as provide for in subsection (c) of this Code section." SECTION 3. Chapter 91 of Title 36 of the Official Code of Georgia Annotated, relating to public works bidding, is amended in Code Section 36-91-2, relating to definitions, by revising paragraph (12) as follows: "(12) 'Public works construction' means the building, altering, repairing, improving, or demolishing of any public structure or building or other public improvements of any kind to any public real property other than those projects covered by Chapter 4 of Title 32 or by Chapter 37 of Title 50. Such term does shall not include the routine operation, repair, or maintenance of existing structures, buildings, or real property, or any energy savings performance contract or, any improvements or installations performed as part of an energy savings performance contract, or any improvement of the roof of an existing structure or building; provided, however, that such improvement to the roof of an existing structure or building shall not include any ancillary items to be placed on such roof." SECTION 4. Said chapter is further amended in Code Section 36-91-21, relating to competitive award requirements, by adding a new subsection to read as follows: "(i) The notice and competitive award requirements of this chapter shall be deemed to have been satisfied when a contract for the improvement of the roof of an existing structure or building is awarded to a supplier approved by a cooperative purchasing organization and designated by the Department of Administrative Services as an authorized source of supply." SECTION 5. This Act shall become effective upon its approval by the Governor or upon its becoming law without such approval and shall apply to all contracts entered into on or after the effective date of this Act. SECTION 6. All laws and parts of laws in conflict with this Act are repealed. ## Summaries written by Georgia Commons The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary. Senate Bill 284 lets Georgia's Securities Commissioner order violators of certain securities laws to repay investors, and separately eases bidding rules for school roofing contracts bought through state-approved cooperative purchasing sources. ### Plain-language summary This bill makes two unrelated changes to Georgia law. First, it amends the Georgia Uniform Securities Act of 2008 (O.C.G.A. Chapter 5 of Title 10) so the Commissioner of Securities can order someone found to have violated key anti-fraud provisions to return the full purchase amount and any other money collected from investors, customers, or clients, not just issue cease and desist orders or civil penalties as before. Second, the bill changes school construction rules. Local school systems that already qualify for low-wealth capital outlay grants would automatically qualify for those grants when they hire a roofing contractor through a state-approved cooperative purchasing organization, as long as the roofing work is in their approved facilities plan. It also amends Georgia's public works bidding law (O.C.G.A. Chapter 91 of Title 36) so that using such a pre-approved roofing supplier automatically satisfies competitive bidding notice requirements, and clarifies that ordinary roof improvements are not 'public works construction' subject to standard bidding rules. The law would take effect as soon as the Governor signs it and would apply to contracts entered afterward. ### What it does - Lets the Commissioner of Securities order violators of specific securities fraud provisions to repay investors, customers, or clients the full purchase price and related funds collected. - Requires the Commissioner's cease and desist orders to state whether a civil penalty or investigation costs will be sought and tightens rules so hearings and final orders must follow required procedures. - Bars courts from requiring the Commissioner to post a bond when seeking to enforce a securities order in court. - Grants automatic low-wealth capital outlay funding to school systems that hire a state-approved cooperative purchasing supplier for roof repairs, if the work is in their approved facilities plan. - Exempts roof improvement contracts awarded through approved cooperative purchasing suppliers from standard public works competitive bidding notice requirements. - Excludes routine roof improvements to existing buildings from the legal definition of 'public works construction' under Georgia's bidding law. ### Who it affects Securities brokers, investment advisers, and other regulated persons found in violation of Georgia securities law; investors, customers, and clients who lost money in such violations; local school systems seeking capital outlay funding for roof repairs; and cooperative purchasing organizations and suppliers involved in public school construction contracts. ### Why it matters Investors defrauded under certain Georgia securities provisions could get their money back through a state order rather than relying solely on civil penalties or private lawsuits. School districts using pre-approved roofing suppliers would face fewer bidding hurdles and gain a more direct path to state construction funding, potentially speeding up roof repair projects. ### Key provisions - Section 1 revises O.C.G.A. § 10-5-73 to add a new remedy: an order directing violators of Code Sections 10-5-50, 10-5-51, or 10-5-54 to return investors' principal and related funds. - Section 1 also changes several 'must'/'may' terms to 'shall,' making hearing procedures, final order findings, and the no-bond rule for court enforcement mandatory rather than discretionary. - Section 1 keeps existing civil penalty caps of $50,000 for a single violation and $500,000 for multiple violations, plus contempt penalties of $5,000 to $50,000 per violation for noncompliance with an order. - Section 2 amends O.C.G.A. § 20-2-262 to guarantee low-wealth capital outlay grants for roofing contracts awarded to Department of Administrative Services-approved cooperative purchasing suppliers, if included in the district's facilities plan. - Section 3 revises the definition of 'public works construction' in O.C.G.A. § 36-91-2 to exclude roof improvements to existing structures, except for ancillary items placed on the roof. - Section 4 adds a new subsection to O.C.G.A. § 36-91-21 stating that using an approved cooperative purchasing roofing supplier automatically satisfies public works notice and competitive award requirements. - Section 5 makes the law effective upon the Governor's signature (or becoming law without signature), applying only to contracts entered into after that date. ## Status - Status: Passed (2026-04-22) - Last action: Effective Date 2026-04-22 (2026-04-22) - Sponsors: Larry Walker, Matt Brass, John Kennedy, Brian Strickland, Carden Summers, Kay Kirkpatrick, Clint Dixon, Harold Jones, Sonya Halpern, Scott Hilton - Official page: https://www.legis.ga.gov/legislation/70926 > The history, votes, and amendments (1,434 characters) are at https://georgiacommons.org/bills/2025-2026/sb284.md?full=1