O.C.G.A.
O.C.G.A. § 33-14-93 (2019)
Unlawful sales of securities
✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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It shall be unlawful for any beneficial owner, director, or officer directly or indirectly to sell any equity security of such insurer if the person selling the security or his principal:
(1) Does not own the security sold;
(2) If owning the security, does not deliver it against such sale within 20 days thereafter; or
(3) Does not within five days after the sale deposit it in the mails or other usual channels of transportation; but no person shall be deemed to have violated this Code section if he proves that notwithstanding the exercise of good faith he was unable to make the delivery or deposit within that time or that to do so would cause undue inconvenience or expense.
History
Code 1933, § 56-1603, enacted by Ga. L. 1965, p. 378, § 3.