§485A-301 Securities registration requirement. 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 485A-201 to 485A-203; or
(3) The security is registered under this chapter. [L 2006, c 229, pt of §1]