O.C.G.A.

O.C.G.A. § 10-5-90 (2019)

Predecessor Act governs actions pending and registrations, orders, and rules in effect on July 1, 2009

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) The predecessor Act exclusively governs all actions or proceedings that are pending on July 1, 2009, or may be instituted on the basis of conduct occurring before July 1, 2009, but a civil action may not be maintained to enforce any liability under the predecessor Act unless instituted within any period of limitation that applied when the cause of action accrued or within five years after July 1, 2009, whichever is earlier. (b) All effective registrations under the predecessor Act, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no action determinations, and conditions imposed on the registrations under the predecessor Act remain in effect while they would have remained in effect if this chapter had not been enacted. They are considered to have been filed, issued, or imposed under this chapter but are exclusively governed by the predecessor Act. (c) The predecessor Act exclusively applies to an offer or sale made within one year after July 1, 2009, pursuant to an offering made in good faith before July 1, 2009, on the basis of an exemption available under the predecessor Act.

History

Code 1981, § 10-5-90, enacted by Ga. L. 2008, p. 381, § 1/SB 358.

Annotations

Code Commission notes. Pursuant to Code Section 28-9-5, in

2008, “July 1, 2009,” was substituted for “the effective date of this chapter” in subsections (a) and (c).

ARTICLE 8 FINANCIAL PROTECTIONS FOR ELDERLY OR DISABLED ADULTS Effective date. This article became effective July 1, 2023.

Notes of Decisions
Cited in 2 cases, 2013–2013 · leading case: Cushing v. Cohen, 746 S.E.2d 898 (Ga. Ct. App. 2013).
Cushing v. Cohen, 746 S.E.2d 898 (Ga. Ct. App. 2013). · cites it 2× “OCGA § 10-5-90 (a) (2013). Georgia’s Acting Assistant Commissioner for Securities has filed amicus briefs voicing the Secretary of State’s position that the investments at issue constitute securities.”
Mark A. Scheinfeld v. Charles M. Cushing (Ga. Ct. App. 2013). · cites it 2× “Note: Effective July 1, 2009, the Georgia Securities Act of 1973 was repealed in its entirety and replaced with the Georgia Uniform Securities Act of 2008.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.