Ky. Rev. Stat. » Chapter 292

Ky. Rev. Stat. § 292.340

Registration of securities

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(1) It is unlawful for any person to offer or sell any security in this state, unless the security is registered under this chapter, or the security or transaction is exempt under this chapter, or the security is a covered security. (2) (a) A business that offers to provide staking as a service to any person shall not be deemed to be offering or selling a security under this chapter. (b) As used in this subsection, "staking as a service" has the same meaning as in KRS 369.130. Effective: June 27, 2025 History: Amended 2025 Ky. Acts ch. 50, sec. 5, effective June 27, 2025. -- Amended 1998 Ky. Acts ch. 20, sec. 6, effective July 15, 1998. -- Amended 1972 Ky. Acts ch. 265, sec. 4. -- Created 1960 Ky. Acts ch. 110, sec. 3, effective January 1, 1961.

Notes of Decisions
Cited in 8 cases (1 in the last 5 years), 1969–2025 · leading case: Commonwealth v. Allen
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Commonwealth v. Allen (1969) kyctapphigh · cites it 3× “The indictment contained two counts charging appellees with “aiding and abetting” another in the sale of unregistered securities (stocks) in violation of KRS 292.340. Specifically they were charged with aiding and abetting one William D.”
Muncy v. Intercloud Systems, Inc. (2015) kyed · cites it 2× “Under Ky.Rev.Stat. § 292.340, “[i]t is unlawful for any person to offer or sell any security in this state, unless the security is registered under this chapter, or the security or transaction is exempt under this chapter, or the security is a covered security.”
Wilson v. Southward Investment Co. 1 (1984) kyctapp “While appellants contend they did not violate the registration provisions of KRS 292.340 insofar as they applied for and secured exemptions from the Department of Banking and Securities, we find that the appellants (sellers) have the burden of proving that an exemption from…”
Smith v. Manausa (1974) kyed · cites it 2× “§ 77e, and KRS 292.340. The defendants’ personal liability is predicated upon (1) the “controlling person” and/or “aiders and abettor” responsibility engrafted in the securities regulation, 15 U.”
Allstate Industrial Loan Plan, Inc. v. Mihalek (1977) ky · cites it 2× “He calls our attention to KRS 292.340, which provides: “It is unlawful for any person to offer or sell any security in this state, except securities exempt under KRS 292.”
Excel Energy Inc v. Smith (2005) ca6 · cites it 2× “” The complaint stated these claims: Count I: The actions of the Defendant Commonwealth in selling Performance Nutrition Stock to Excel violated KRS 292.340, entitling the Plaintiff to damages.”
Department of Revenue, Finance and Administration Cabinet v. The Solomon Foundation, Inc. (2025) ky “400 exempts religious organizations from various regulations governing the sale of securities contained in KRS 292.340 to 292.390. 7 support from gross investment income or other taxable sources.”
Brown v. Earthboard Sports (2007) ca6 “” Ky. Rev. Stat. Ann. § 292.340 . The state statute incorporates the federal definition of a “covered security.”
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