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 Sections 1-201 through 1-203 of this title; or
3. The security is registered under this title.
Added by Laws 2003, c. 347, § 10, eff. July 1, 2004. Amended by Laws 2022, c. 77, § 12, eff. Nov. 1, 2022.