---
title: O.C.G.A. § 10-5-20. Restrictions on sales of securities.
collection: code
id: 10-5-20
cite_as: O.C.G.A. § 10-5-20 (2025)
canonical_url: https://georgiacommons.org/code/10-5-20
md_url: https://georgiacommons.org/code/10-5-20.md
text_url: https://georgiacommons.org/code/10-5-20/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t10-(v8)-2024-pdf.pdf?sfvrsn=1992b47e_0#page=760
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/10-5.md
previous: https://georgiacommons.org/code/10-5-13.md
next: https://georgiacommons.org/code/10-5-21.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCE AND TRADE / GEORGIA UNIFORM SECURITIES / REGISTRATION OF SECURITIES
---

# O.C.G.A. § 10-5-20. Restrictions on sales of securities.

It is unlawful for a person to offer or sell a security in this state unless:

(1) The security is a federal covered security;

(2) The security, transaction, or offer is exempted from registration under Code Sections 10-5-10 through 10-5-12; or

(3) The security is registered under this chapter.

## History

Code 1981, § 10-5-20, enacted by Ga. L. 2008, p. 381, § 1/SB 358.