---
title: O.C.G.A. § 10-5-90. Predecessor Act governs actions pending and registrations, orders, and rules in effect on July 1, 2009.
collection: code
id: 10-5-90
cite_as: O.C.G.A. § 10-5-90 (2025)
canonical_url: https://georgiacommons.org/code/10-5-90
md_url: https://georgiacommons.org/code/10-5-90.md
text_url: https://georgiacommons.org/code/10-5-90/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=834
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.
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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 / APPLICABILITY OF PREDECESSOR PROVISIONS
---

# O.C.G.A. § 10-5-90. Predecessor Act governs actions pending and registrations, orders, and rules in effect on July 1, 2009.

(a) The predecessor Act exclusively governs all actions or proceedings that are pending on July 1, 2009, or may be instituted on the basis of conduct occurring before July 1, 2009, but a civil action may not be maintained to enforce any liability under the predecessor Act unless instituted within any period of limitation that applied when the cause of action accrued or within five years after July 1, 2009, whichever is earlier.

(b) All effective registrations under the predecessor Act, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no action determinations, and conditions imposed on the registrations under the predecessor Act remain in effect while they would have remained in effect if this chapter had not been enacted. They are considered to have been filed, issued, or imposed under this chapter but are exclusively governed by the predecessor Act.

(c) The predecessor Act exclusively applies to an offer or sale made within one year after July 1, 2009, pursuant to an offering made in good faith before July 1, 2009, on the basis of an exemption available under the predecessor Act.

## History

Code 1981, § 10-5-90, enacted by Ga. L. 2008, p. 381, § 1/SB 358.

## Code Commission Notes

Pursuant to Code Section 28-9-5, in 2008, “July 1, 2009,” was substituted for “the effective date of this chapter” in subsections (a) and (c).