Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 14. DOMESTIC STOCK AND MUTUAL INSURERS · Article 4. INSIDER TRADING OF DOMESTIC STOCK INSURER EQUITY SECURITIES

33-14-93. Unlawful sales of securities.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. It shall be unlawful for any beneficial owner, director, or officer directly or indirectly to sell any equity security of such insurer if the person selling the security or his principal:

  2. (1)

    Does not own the security sold;#

  3. (2)

    If owning the security, does not deliver it against such sale within 20 days thereafter; or#

  4. (3)

    Does not within five days after the sale deposit it in the mails or other usual channels of transportation;#

  5. but no person shall be deemed to have violated this Code section if he proves that notwithstanding the exercise of good faith he was unable to make the delivery or deposit within that time or that to do so would cause undue inconvenience or expense.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 56-1603, enacted by Ga. L. 1965, p. 378, § 3.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, pages 703 to 704; merge action: carried; file SHA-256 4ecec175d949.