O.C.G.A. § 10-5-57 (2019)
Penalties for violations
(a) A person that willfully violates this chapter, or a rule adopted or order issued under this chapter, except Code Section 10-5-53 or the notice filing requirements of Code Section 10-5-21 or 10-5-34, or that willfully violates Code Section 10-5-54 knowing the statement made to be false or misleading in a material respect, upon conviction, shall be fined not more than $500,000.00 or imprisoned not more than five years, or both. An individual convicted of violating a rule adopted or order issued under this chapter may be fined but may not be imprisoned if the individual did not have knowledge of the rule or order. (b) The Attorney General or the proper prosecuting attorney with or without a reference from the Commissioner may institute criminal proceedings under this chapter. (c) This chapter does not limit the power of this state to punish a person for conduct that constitutes a crime under other laws of this state.
History
Code 1981, § 10-5-57, enacted by Ga. L. 2008, p. 381, § 1/SB 358.
Annotations
JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, decisions under former Ga. L. 1957, p. 134 and former O.C.G.A. § 10-5-24, which were subsequently repealed but were succeeded by provisions in this Code section, are included in the annotations for this Code section. Punishment not jury issue. - Trial court’s failure to submit the issue of punishment to the jury does not deny the defendant a substantial right. Bowler v. State, 145 Ga. App. 633, 244 S.E.2d 142, 1978 Ga. App. LEXIS 2072 (1978) (decided under former Ga. L. 1957, p. 134, as amended). “Willfully.” - Court of Appeals of Georgia, First Division, concludes that the term “willfully” in former O.C.G.A. § 10-5-13(a)(1)(A)(iv) had the same
meaning that it had been construed to have in former O.C.G.A. § 10-5-24. Before any of the civil penalties of up to $50,000 for single violations and up to $500,000 for multiple violations can be imposed under former O.C.G.A. § 10-5-13(a)(1)(A)(iv), there must be a knowing and intentional violation of the Georgia Securities Act of 1973, former O.C.G.A. § 10-5-1 et seq. Garvin v. Sec’y of State, 266 Ga. App. 66, 596 S.E.2d 166, 2004 Ga. App. LEXIS 171 (2004), cert. denied, No. S04C1027, 2004 Ga. LEXIS 517 (Ga. June 7, 2004), rev’d sub nom. Cox v. Garvin, 278 Ga. 903, 607 S.E.2d 549, 2005 Ga. LEXIS 15 (2005), vacated in part, 272 Ga. App. 860, 614 S.E.2d 93, 2005 Ga. App. LEXIS 281 (2005) (decided under former O.C.G.A. § 10-5-24).
RESEARCH REFERENCES C.J.S. 79A C.J.S., Securities Regulation and
Commodity Futures Trading Regulation, § 586 et seq.