O.C.G.A. § 10-4-218 (2019)
Deemed acceptance of rental agreement; notice of termination or nonrenewal; removal of personal property
(a) If within 14 days of the delivery of a written rental agreement by hand delivery or verified mail by the owner to the occupant the occupant fails to sign such rental agreement, the occupant’s continued use of the storage space shall be deemed an acceptance of the rental agreement and such rental agreement shall be enforceable against the occupant as if it had been signed by the occupant, provided said agreement states in bold type no smaller than 12 point font: “THE OCCUPANT’S CONTINUED USE OF THE STORAGE SPACE SHALL BE DEEMED AN ACCEPTANCE OF THE RENTAL AGREEMENT AND SUCH RENTAL AGREEMENT SHALL BE ENFORCEABLE AGAINST THE OCCUPANT AS IF IT HAD BEEN SIGNED BY THE OCCUPANT”.
(b) An occupant shall not use a self-service storage facility after the owner has delivered written notice by hand delivery or verified mail of the termination or nonrenewal of the occupant’s rental agreement. Such notice shall provide the occupant with not less than 14 days after delivery of such notice to remove all personal property from the self-service storage facility.
(c) Prior to the occupant’s removal of all personal property from a self-service storage facility pursuant to subsection (b) of this Code section, the owner may place reasonable restrictions on the occupant’s use of the self-service storage facility, including denying access to the self-service storage facility except for the occupant to remove personal property during the owner’s normal business hours. The owner may dispose of any personal property remaining at the self-service storage facility after the date provided in the written notice pursuant to subsection (b) of this Code section.
History
Code 1981, § 10-4-218, enacted by Ga. L. 2024, p. 675, § 2/HB 934, effective July 1, 2024.
Effective date. This Code section became effective July 1, 2024.
CHAPTER 5 GEORGIA UNIFORM SECURITIES Sec.
Article 1
quirements sioner.
General Provisions Sec.
Short title. Definitions. Citations to United States Code. Reference to agency or department of United States. Electronic records and signatures.
Registration of Broker-dealers, Agents, and Investment Advisors
Exemptions
Exemptions from registration of securities. Exempt transactions. Exemption of securities, transactions, or offers by adoption of rule or issuance of order. Denial, suspension, or revocation of exemption. Article 3
Registration of Securities
Restrictions on sales of securities. Filing of records. Registration by coordination; additional records; effective date of federal registration statement. Registration by qualification; additional information and records required; effective date. Filing of registration statement; conditions of registration; amendment. Denying, suspending, or revoking the effectiveness of registration statement; publication of conduct constituting violations; notice and hearing. Waiver or modification of re-
Commis-
Article 4
Article 2
by
Registration requirements for broker-dealers; exemptions. Registration requirements for agents; exemptions. Registration requirements for investment advisors; exemptions. Registration requirement for investment adviser representatives; exemptions. Registration requirements for federal covered investment advisers. Application for registration; consent to service of process. Successors to registration; change of name, form of organization, and control. Notice of termination. Withdrawal of registration. Fees. Financial requirements. Denial of or placement of conditions or limitations on registration; civil penalties. Article 5
Violations, Penalties, and Civil Liability
Unlawful practices with offer, sale, or purchase of security. Fraud or deceit unlawful; adoption of rule. Burden on person claiming exemption, preemption, or exclusion in civil and criminal proceedings. Order or rule may require filing of prospectus and additional information.
Sec.
GEORGIA UNIFORM SECURITIES Sec. Unlawful to make false or misleading statements. Acceptance of filings not indicative of accuracy, merit, or qualification. Liability for defamation related to information contained in record. Penalties for violations. Enforcement of civil liability; damages. Exemptions to liability.
Applicability of Predecessor Provisions
Administration
Administration of chapter; Commissioner of Securities; authority. Powers of Commissioner. Violations; remedies and penalties. Cease and desist orders; denying, revoking, or conditioning exemptions for broker-dealers; civil penalties. Issuance of forms and orders; adoption and amendment of rules. Register of applications for registration of securities; registration statements; notice filings; notices of claims; furnishing certain information to the public. Public records; exceptions. Intergovernmental cooperation, coordination, and consultation; sharing of records and information. Rules and orders issued un-
Annotations
Editor’s notes. Ga. L. 2008, p. 381, § 1/SB 358, effective July 1, 2009, repealed the Code sections formerly codified at this chapter and enacted the current chapter. The former chapter consisted of Code Sections 10-5-1 through 10-5-23.1, and 10-5-24, and was based on Code 1933, §§ 97-101 - 97-113, 97-114, 97-115 - 97-121, 97-9901, enacted by Ga. L. 1973, p. 1202, §§ 1 - 22; Code 1933, § 97-114.1, enacted by Ga. L. 1974,
der this chapter subject to judicial review. Applicability of chapter to certain offers to purchase or sell. Consent to service of process. Article 7
Article 6
Predecessor Act governs actions pending and registrations, orders, and rules in effect on July 1, 2009. Article 8
Financial Protections for Elderly or Disabled Adults
Definitions. Prompt notification to Commissioner of exploitation; requirements. Notifications to designated third parties. Delayed disbursement if financial exploitation suspected; expiration; judicial extension of delay. Limitations on administrative and civil liability. Disclosure on investigations. Accessibility of books and records. Administrative and civil liability. Reporting requirements remain.
p. 284, § 17; Ga. L. 1974, p. 284, §§ 1 - 16, 18, 19; Ga. L. 1975, p. 928, §§ 1 - 27; Ga. L. 1979, p. 1296, §§ 1 - 10; Ga. L. 1981, p. 840, § 1; Ga. L. 1981, p. 1583, § 1; Ga. L. 1982, p. 3, § 10; Ga. L. 1982, p. 1178, § 1; Ga. L. 1983, p. 781, § 1; Ga. L. 1984, p. 22, § 10; Ga. L. 1984, p. 529, §§ 2 - 5; Ga. L. 1985, p. 149, § 10; Ga. L. 1986, p. 1559, §§ 1 - 8; Ga. L. 1987, p. 3, § 10; Ga. L. 1987, p. 191, § 9; Ga. L. 1987, p. 439, § 1; Code 1981, § 10-5-23, enacted by Ga. L.
1987, p. 984, § 1; Ga. L. 1988, p. 1290, §§ 1 - 10; Code 1981, § 10-5-23.1, enacted by Ga. L. 1988, p. 1290, § 11; Ga. L. 1989, p. 14, § 10; Ga. L. 1990, p. 1332, §§ 1 - 5; Ga. L. 1990, p. 1534, §§ 1 - 16; Ga. L. 1992, p. 6, § 10; Ga. L. 1994, p. 860, §§ 1, 2; Ga. L. 1997, p. 143, § 10; Ga. L. 1998, p. 1617, §§ 1 - 9; Ga. L. 1999, p. 329, § 1; Ga. L. 2000, p. 1589, § 3; Ga. L. 2002, p. 792, §§ 1 - 4. Cross references. Applicability to chapter of laws pertaining to sales of business opportunities, § 10-1-417. Provisions regarding status of investment securities as negotiable instruments, § 11-8-101 et seq. Contracts of sale for future delivery of cotton, grain, stocks, or other commodities, § 13-9-1 et seq. Creation, classification, and issuance of shares of corporations, § 14-2-601 et seq. Uniform transfer on death security registration, § 53-5-60 et seq. Administrative rules and regulations. General Provisions, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commissioner of Securities, Rule 590-4-1-.01 et seq. Exemptions, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commissioner of Securities, Rule 590-4-2-.01 et seq. Registration of Securities, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commissioner of Securities, Rule 590-4-3-.01 et seq. Investment Advisors and Representatives, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commissioner of Securities, Rule 590-4-4-.01 et seq. Brokers-Dealers and Agents, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commissioner of Securities, Rule 590-4-5-.01 et seq. Rules Governing Administrative Hearings, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Office of Secretary of State, Commis-
sioner of Securities, Rule 590-4-6-.01 et seq. Law reviews. For article discussing the Georgia Securities Act of 1957, see 9 Mercer L. Rev. 332 (1958). For article advocating uniformity in securities regulation within the states and adoption of the Uniform Act in Georgia, see 22 Ga. B. J. 437 (1960). For note discussing preincorporation and postincorporation securities transactions exempt from regulation, see 26 Ga. B. J. 461 (1964). For article advocating revision of former Georgia Securities Act, see 4 Ga. L. Rev. 341 (1970). For article, “The Regulation of Franchising Under the Securities Laws,” see 6 Ga. St. B. J. 357 (1970). For article, “A Survey of the Georgia Securities Act of 1973,” see 10 Ga. St. B. J. 219 (1973). For article surveying the Georgia Securities Act of 1973 and the 1974 amendments thereto, see 25 Mercer L. Rev. 601 (1974). For article, “Real Estate Syndications As Securities in Georgia - A Review and Comments on the Recent Opinion of the Attorney General,” see 11 Ga. St. B. J. 80 (1974). For article, “A Response: Real Estate Syndications as Securities in Georgia,” see 11 Ga. St. B. J. 153 (1975). For article discussing provisions pertaining to the regulation of time-shared interests in property ownership, see 12 Ga. St. B. J. 75 (1975). For article discussing regulation in this state of oil and gas offerings exempt under Regulation B of the Federal Securities and Exchange Commission, and offering proposals for regulations to meet problems posed thereby, see 12 Ga. St. B. J. 149 (1976). For article, “Securities Investigations Under the Georgia Securities Act,” see 17 Ga. St. B. J. 14 (1980). For article, “Securities,” see 32 Mercer L. Rev. 1125 (1981). For article discussing utility of the central securities broker-dealer registration system (CRD), see 18 Ga. St. B. J. 47 (1981).
For comment, “Insider Trading, the Contemporaneous Trader, and the Corporate Acquirer: Entitlement to Profits Disgorged by the SEC,” see 40 Emory L.J. 537 (1991). For article, “Rereading Section 16(b) of
the Securities Exchange Act,” see 27 Ga. L. Rev. 183 (1992). For annual survey article on business associations, see 45 Mercer L. Rev. 53 (1993).
JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, decisions under former Ga. L. 1920, p. 250, Ga. L. 1957, p. 134, and Ga. L. 1973, p. 1202, as amended, which were subsequently repealed but were succeeded by provisions in this chapter, are included in the annotations for this chapter. Constitutionality. - Criminal provisions of the former chapter were not vague, ambiguous, or contradictory, and an indictment thereunder was not void. Curtis v. State, 99 Ga. App. 732, 109 S.E.2d 868, 1959 Ga. App. LEXIS 950 (1959) (decided under former Ga. L. 1957, p. 134). Criminal provisions not exclusive. - Criminal provisions were not intended by the legislature to be exclusive, as the provisions would ordinarily be, but only cumulative. Cohen v. State, 101 Ga. App. 23, 112 S.E.2d 672, 1960 Ga. App. LEXIS 775 (1960) (decided under former Ga. L. 1957, p. 134, as amended). Purpose and intent was to prohibit organizers and promoters, whether foreign or domestic, who organize and promote the sale of what is commonly known as “blue sky stock,” from doing business without complying with the statutory provisions, and to guard and protect an unsuspecting and trusting public from what are commonly known as “wild cat” organizers and promoters and their agents. Ratliffe v. Hartsfield Co., 181 Ga. 663, 184 S.E. 324, 1935 Ga. LEXIS 174 (1935) (decided under former Ga. L. 1920, p. 250, as amended). Liberal construction. - Since the former provisions were remedial in
nature, it was to be construed broadly to effectuate its aim - protection of investors. Fortier v. Ramsey, 136 Ga. App. 203, 220 S.E.2d 753, 1975 Ga. App. LEXIS 1297 (1975) (construing former Ga. L. 1957, p. 134, as amended); Jaciewicki v. Gordarl Assocs., 132 Ga. App. 888, 209 S.E.2d 693, 1974 Ga. App. LEXIS 1861 (1974); Blau v. Redmond, 143 Ga. App. 897, 240 S.E.2d 273, 1977 Ga. App. LEXIS 2554 (1977); Novatex Sales, Inc. v. Prince, 159 Ga. App. 559, 284 S.E.2d 65, 1981 Ga. App. LEXIS 2693 (1981) (decided under Ga. L. 1973, p. 1202). Exemptions are strictly construed. - Exemptions from the securities laws are to be strictly construed, and one who claims the exemption bears the burden of proving the exemption’s availability. Blau v. Redmond, 143 Ga. App. 897, 240 S.E.2d 273, 1977 Ga. App. LEXIS 2554 (1977) (decided under Ga. L. 1973, p. 1202). Law was intended for protection of investors and was designed to disclose relevant and material facts to the investor, any exception to a disclosure requirement was to be narrowly construed. Novatex Sales, Inc. v. Prince, 159 Ga. App. 559, 284 S.E.2d 65, 1981 Ga. App. LEXIS 2693 (1981) (decided under Ga. L. 1973, p. 1202). Investor in stock index futures. - Due to the preclusive and preemptive operation of the federal commodities laws, investor in stock index futures had no claim against broker and account executive under the federal or state securities laws. Mallen v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 605 F. Supp. 1105, 1985 U.S. Dist. LEXIS 21328 (N.D. Ga. 1985) (decided under former O.C.G.A. Ch. 5, T. 10).
OPINIONS OF THE ATTORNEY GENERAL Editor’s notes. - In light of the
similarity of the statutory provisions,
opinions under former Ga. L. 1957, p. 134 and Ga. L. 1973, p. 1202, as amended, which were subsequently repealed but were succeeded by provisions in this chapter, are included in the annotations for this chapter. Law was concerned with substance, rather than with form. 1970 Op. Att’y Gen. No. U70-25 (decided under former Ga. L. 1957, p. 134, as amended). In determining the applicability of the former chapter, it was the substance and not the form of the offering which was determinative. 1973 Op. Att’y Gen. No. 73-187 (decided under former Ga. L. 1957, p. 134). Former law continues to govern securities registered under it. - Bonds which are filed in connection with registrations under Georgia Securities Act of 1957, Ga. L. 1957, p. 134, continue to be governed by the 1957 Act, and bonds filed in connection with a registration or renewal after the effective date of Ga. L. 1973, p. 1202, April 1, 1974, must comply with and will be governed by the latter statute. 1973 Op. Att’y Gen. No. 73-159 (decided under Ga. L. 1973, p. 1202). Chapter does not apply if no sale occurs in Georgia. - Georgia courts would probably hold that the securities registration provisions do not apply to transactions involving a Georgia issuer where no sale or offer to sell occurs within Georgia. 1970 Op. Att’y Gen. No. U70-88 (decided under former Ga. L. 1957, p. 134, as amended). Activities in Georgia may bring transaction under chapter. - If certain activities, as to registration of dealers and salesperson, are carried on in Georgia, this could bring transactions involving a Georgia issuer under the law of this state. 1970 Op. Att’y Gen. No. U70-88 (decided under former Ga. L. 1957, p. 134, as amended). Any security offered must be registered unless exempted. - Unless exempted or involved in an exempt transaction, securities offered for sale must be registered. 1969 Op. Att’y Gen. No. 69-328 (decided under Ga. L. 1957, p. 134, as amended). It does not necessarily follow that a scheme which constitutes a “security”
must always be registered with the commissioner of securities; if a scheme falls within any of the exemptions provided by law or if the sale of such a scheme fits any of the exempt transactions, the registration requirements would not apply. 1973 Op. Att’y Gen. No. 73-100 (decided under former Ga. L. 1957, p. 134, as amended). Any person offering securities must be registered. - A person who engages in the business of selling mortgage securities to the public is required to register as a dealer, and the individuals who work for such a dealer are required to register as sales people unless the individuals qualify for one of the exemptions enumerated in Ga. L. 1973, p. 1202, § 3 (see now O.C.G.A. § 10-5-3). 1974 Op. Att’y Gen. No. 74-153 (decided under Ga. L. 1973, p. 1202). Sale of scotch whiskey investments in Georgia would be a transaction subject to this chapter, and both the investment and the sellers must be registered pursuant to this chapter unless they qualify for some exemption from registration. 1973 Op. Att’y Gen. No. 73-187 (decided under former Ga. L. 1957, p. 134, as amended). Sale of time-sharing units in a condominium, when coupled with a rental pool or other profit-sharing arrangement, constitutes a “security” within the definition of former Code 1933, § 97-102 (see former O.C.G.A. § 10-5-2(a)(16)) and, unless exempt, must be registered pursuant to Ga. L. 1973, p. 1202 (see former O.C.G.A. Ch. 5, T. 10); any person offering for sale or selling such securities that are subject to registration must register as a dealer, limited dealer, salesperson, or limited salesperson under Ga. L. 1973, p. 1202 (see former O.C.G.A. Ch. 5, T. 10) unless such a person is a real estate broker or salesperson licensed to sell real estate in Georgia. 1976 Op. Att’y Gen. No. 76-75 (decided under former Ga. L. 1973, p. 1202). Foreign corporation needs certificate of authority. - Registration as a dealer does not exempt a foreign corporation from needing a certificate of authority. 1975 Op. Att’y Gen. No. 75-38 (decided under former Ga. L. 1973, p. 1202). All material facts must be disclosed. - Any person who sells
mortgage securities is required to fully and truthfully disclose all material facts concerning the value and risks of the investment. 1974 Op. Att’y Gen. No. 74-153 (decided under former Ga. L. 1973, p. 1202). Secretary of State may not retain fees. - Fees collected by the Secretary of State as the commissioner of securities
must be paid to the Fiscal Division of the Department of Administrative Services (now the Office of Treasury and Fiscal Services), and such fees may not be retained by the Office of Secretary of State as reimbursements for the expenses of that office. 1969 Op. Att’y Gen. No. 69-13 (decided under former Ga. L. 1957, p. 134, as amended).
RESEARCH REFERENCES Am. Jur. Proof of Facts. Fraudulent Representations Inducing the Purchase of a Small Business, 30 POF3d 1. Am. Jur. Trials. Broker-Dealer Fraud: Churning, 36 Am. Jur. Trials 1. ALR. Right of broker to repledge customer’s securities, 24 A.L.R. 452. Rights inter se of customers whose securities have been repledged by broker, 24 A.L.R. 479; 48 A.L.R. 803; 76 A.L.R. 794. Section 20a of Interstate Commerce Act (in relation to issuance of securities by carriers) as limitation on powers of state, 57 A.L.R. 671. Measure of damages for broker’s breach of contract with customer as to sales and purchases of stocks on the exchange, 63 A.L.R. 305. Blue Sky Laws, 87 A.L.R. 42. Legal aspects of transactions in securities “when issued” or “when, as and if” issued, 88 A.L.R. 311.
What constitutes stock, securities, or investment contracts within contemplation of state and federal statutes regulating sale of securities, 163 A.L.R. 1050. Awarding damages for delay, in addition to specific performance, of contract for sale of corporate stock, 28 A.L.R.3d 1401. What amounts to participation by corporate officer or agent in illegal issuance of security, in order to impose liability upon him under state securities regulations, 44 A.L.R.3d 588. Commodities broker’s state-law duties to customers, 55 A.L.R.4th 394. Lockup option defense to hostile corporate takeover, 66 A.L.R.4th 180. Construction and application of preemption exemption, under Employee Retirement Income Security Act (29 USCS §§ 1001, et seq.), for state laws regulating insurance, banking, or securities (29 USCS § 1144(b)(2)), 87 A.L.R. Fed. 797. Attorney’s liability for nondisclosure or misrepresentation to third-party nonclients in private civil actions under Federal Securities Laws, 112 A.L.R. Fed. 141.
ARTICLE 1 GENERAL PROVISIONS