---
title: O.C.G.A. § 10-5A-3. Exempt purchasers and sellers.
collection: code
id: 10-5A-3
cite_as: O.C.G.A. § 10-5A-3 (2025)
canonical_url: https://georgiacommons.org/code/10-5A-3
md_url: https://georgiacommons.org/code/10-5A-3.md
text_url: https://georgiacommons.org/code/10-5A-3/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=843
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
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current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCE AND TRADE / COMMODITIES AND COMMODITY CONTRACTS AND OPTIONS / GENERAL PROVISIONS
---

# O.C.G.A. § 10-5A-3. Exempt purchasers and sellers.

The prohibitions in Code Section 10-5A-2 shall not apply to any transaction offered by and in which any of the following persons or any employee, officer, or director thereof acting solely in that capacity is the purchaser or seller:

(1) A person registered with the Commodity Futures Trading Commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration;

(2) A person registered with the Securities and Exchange Commission as a broker-dealer whose activities require such registration;

(3) A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in paragraph (1) or (2) of this Code section;

(4) A person who is a member of a contract market designated by the Commodity Futures Trading Commission or any clearing-house thereof;

(5) A financial institution;

(6) A person registered under the laws of this state as a securities broker-dealer whose activities require such registration; or

(7) A person engaged in business as a bullion or precious metals dealer having and maintaining a net worth of at least $500,000.00, provided that such person has filed with the Commissioner a sworn statement, in form and substance satisfactory to the Commissioner, that such person meets the minimum net worth requirement and that such person will notify the Commissioner immediately in the event its net worth falls below $500,000.00.

The exemption provided by this Code section shall not apply to any transaction or activity which is prohibited by the Commodity Exchange Act or Commodity Futures Trading Commission rule.

## History

Code 1981, § 10-5A-3, enacted by Ga. L. 1988, p. 1636, § 1.