It is unlawful for any district to issue bonds or for any other person to make a distribution of such bonds unless they are first registered with the securities commissioner under section 11-59-108 or unless the issuance of bonds is exempted under section 11-59-110.
Source: L. 91: Entire article added, p. 2411, § 1, effective January 1, 1992. L. 94: Entire section amended, p. 1847, § 14, effective July 1.