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 35-1-201 through 35-1-203; or
(3) the security is registered under this chapter.
HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.