47-31B-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 §§47-31B-201 through 47-31B-203; or
(3)The security is registered under this chapter.
Source: SL 2004, ch 278, §10.