---
title: O.C.G.A. § 33-14-93. Unlawful sales of securities.
collection: code
id: 33-14-93
cite_as: O.C.G.A. § 33-14-93 (2025)
canonical_url: https://georgiacommons.org/code/33-14-93
md_url: https://georgiacommons.org/code/33-14-93.md
text_url: https://georgiacommons.org/code/33-14-93/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-2020-pdf.pdf?sfvrsn=a873240d_0#page=703
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/33-14.md
previous: https://georgiacommons.org/code/33-14-92.md
next: https://georgiacommons.org/code/33-14-94.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: INSURANCE / DOMESTIC STOCK AND MUTUAL INSURERS / INSIDER TRADING OF DOMESTIC STOCK INSURER EQUITY SECURITIES
---

# O.C.G.A. § 33-14-93. Unlawful sales of securities.

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:

(1) Does not own the security sold;

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

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

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.

## History

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