Predecessor Act Governs Actions Pending and Registrations, Orders, and Rules in Effect on July 1, 2009

  1. Law
  2. Georgia Code
  3. Commerce and Trade
  4. Georgia Uniform Securities
  5. Applicability of Predecessor Provisions
  6. Predecessor Act Governs Actions Pending and Registrations, Orders, and Rules in Effect on July 1, 2009

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  1. The predecessor Act exclusively governs all actions or proceedings that are pending on July 1, 2009, or may be instituted on the basis of conduct occurring before July 1, 2009, but a civil action may not be maintained to enforce any liability under the predecessor Act unless instituted within any period of limitation that applied when the cause of action accrued or within five years after July 1, 2009, whichever is earlier.
  2. All effective registrations under the predecessor Act, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no action determinations, and conditions imposed on the registrations under the predecessor Act remain in effect while they would have remained in effect if this chapter had not been enacted. They are considered to have been filed, issued, or imposed under this chapter but are exclusively governed by the predecessor Act.
  3. The predecessor Act exclusively applies to an offer or sale made within one year after July 1, 2009, pursuant to an offering made in good faith before July 1, 2009, on the basis of an exemption available under the predecessor Act.

(Code 1981, §10-5-90, enacted by Ga. L. 2008, p. 381, § 1/SB 358.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 2008, "July 1, 2009" was substituted for "the effective date of this chapter" in subsections (a) and (c) and a comma was inserted following "July 1, 2009" in subsections (a) and (c).

JUDICIAL DECISIONS

Cited in Cushing v. Cohen, 323 Ga. App. 497, 746 S.E.2d 898 (2013).

CHAPTER 5A COMMODITIES AND COMMODITY CONTRACTS AND OPTIONS Article 1 General Provisions.
  • 10-5A-1. Definitions.
  • 10-5A-2. Prohibited activities concerning purchase or sale of commodities.
  • 10-5A-3. Exempt purchasers and sellers.
  • 10-5A-4. Exempt transactions and contracts; rules and regulations.
  • 10-5A-5. Conditions for acting as commodity merchant; designation of board of trade.
  • 10-5A-6. Fraudulent or deceitful acts or willful misappropriation prohibited.
  • 10-5A-7. Liability for acts or omissions of employees, officers, or agents.
  • 10-5A-8. Applicability of securities law.
  • 10-5A-9. Construction of chapter.
Article 2 Enforcement.
  • 10-5A-20. Investigations.
  • 10-5A-21. Actions by Commissioner if chapter, rule, or order violated.
  • 10-5A-22. Legal or equitable remedies; special remedies.
  • 10-5A-23. Venue for civil and criminal actions.
  • 10-5A-24. Commissioner of Securities; employees; compensation and expenses; assistant commissioner; prohibited use of information; confidential information.
  • 10-5A-25. Cooperation with agencies, administrators, and organizations.
  • 10-5A-26. Rules and regulations.
  • 10-5A-27. Applicability of Code Sections 10-5A-2, 10-5A-5, and 10-5A-6.
  • 10-5A-28. Administrative proceedings.
  • 10-5A-29. Judicial review of Commissioner's orders.
  • 10-5A-30. Burden of proving exemptions.
  • 10-5A-31. Criminal penalties for violating chapter; institution of criminal proceedings.
Cross references.

- Contracts of sale for future delivery of cotton, grain, stocks, or other commodities, § 13-9-1 et seq.

Administrative Rules and Regulations.

- Commodities, Official Compilation of the Rules and Regulations of the State of Georgia, Office of Secretary of State, Commissioner of Securities, Chapter 590-4-9.

ARTICLE 1 GENERAL PROVISIONS


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