Arizona Revised Statutes
Ariz. Rev. Stat. § 44-1842 (2026)
Transactions by unregistered dealers and salesmen prohibited; classification
✓ current as of May 2026
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A. It is unlawful for any dealer to sell or purchase or offer to sell or buy any securities, or for any salesman to sell or offer for sale any securities within or from this state unless the dealer or salesman is registered as such pursuant to the provisions of article 9 of this chapter.
B. A person violating this section is guilty of a class 4 felony.
Notes of Decisions
Cited in 20
cases (2 in the last 5 years), 1968–2023 · leading case: State v. Cook, 916 P.2d 1074 (Ariz. Ct. App. 1995).
State v. Cook, 916 P.2d 1074 (Ariz. Ct. App. 1995). “section 44-1842 (sale of securities by unregistered dealers or salesmen), with one of these counts, Count 15, also including A.”
State v. Tober, 841 P.2d 206 (Ariz. 1992). “§ 44-1841, prohibiting the sale of unregistered securities, and A.R.S. § 44-1842, prohibiting transactions in securities by unregistered dealers and sellers, are vague under the due process clause of the Fourteenth Amendment.”
Shorey v. Arizona Corp. Comm'n, 359 P.3d 997 (Ariz. Ct. App. 2015). “§ 44-1841, offered and sold securities from Arizona without being registered as dealers or salesmen in violation of A.R.S. § 44-1842, and made untrue statements and omitted material facts during securities transactions in violation of A.”
Madsen Ex Rel. Corbin v. W. Am. Mortg. Co., 694 P.2d 1228 (Ariz. Ct. App. 1985). “It defines fraudulent practices in A.R.S. § 44-1991 (Supp.”
Siporin v. Carrington, 23 P.3d 92 (Ariz. Ct. App. 2001). “A.R.S. § 44-1842. The purchaser of a security sold in Arizona in violation of either of these requirements may rescind the purchase and recover the amount paid for the security, with interest, reasonable attorneys’ fees, and taxable court costs, less any income derived from…”
State v. Baumann, 610 P.2d 38 (Ariz. 1980). “§ 44-1841, seven counts of sale of securities by an unregistered dealer in violation of A.R.S. § 44-1842, and one count of conspiracy in violation of A.”
State Ex Rel. Corbin v. Pickrell, 667 P.2d 1304 (Ariz. 1983). “Petitioners’ complaint alleged three claims for relief under the Arizona Securities Act based on the offer and sale of unregistered securities, § 44-1841; the offer and sale of securities *592 by unregistered dealers or salesmen, § 44-1842; and fraud in connection with the offer…”
E. Vanguard Forex Ltd. v. Arizona Corp. Comm'n, 79 P.3d 86 (Ariz. Ct. App. 2003). “Section 44-1841 pertains to the sale of unregistered securities, § 44-1842 governs transactions by unregistered dealers and salesmen, and § 44-1991 prohibits fraud in the purchase or sale of securities.”
State v. Haas, 675 P.2d 673 (Ariz. 1983). “§ 44-1841, and securities sold by unlicensed dealers, § 44-1842, from the counts charging fraudulent scheme to sell unregistered securities, § 44-1991 and the counts charging fraudulent scheme or artifice, § 13-320.”
Riffle v. Robert L. Parker Co., 505 P.2d 268 (Ariz. Ct. App. 1973). “Having determined that the Riffle acquisition was the result of an exempt transaction, the provisions of A.R.S. § 44-1842 do not apply. State v. Allen, supra.”
Baker v. Walston & Co., 442 P.2d 148 (Ariz. Ct. App. 1968). “” A.R.S. § 44-1842, subsec. A provides: “A.”
Nutek Info. Sys., Inc. v. Arizona Corp. Comm'n, 977 P.2d 826 (Ariz. Ct. App. 1998). “It ruled that the membership interests marketed in the LLCs constituted securities and that the appellants had sold unregistered securities in violation of A.”
— Ariz. Rev. Stat. § 44-1842(A) — 1 case
Ventures 7000 v. Acc (Ariz. Ct. App. 2022).
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