N.C. Gen. Stat. » Chapter 78A
NC General Statutes

N.C. Gen. Stat. § 78A-24 (2026)

Registration requirement

✓ current as of July 2026
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It is unlawful for any person to offer or sell any security in this State unless (i) it is registered under this Chapter, (ii) the security or transaction is exempted under G.S. 78A-16 or 78A-17 and such exemption has not been denied or revoked under G.S. 78A-18, or (iii) it is a security covered under federal law. (1925, c. 190, s. 6; 1927, c. 149, s. 6; 1955, c. 436, s. 4; 1973, c. 1380; 1997-419, ss. 6, 7.)

 

Notes of Decisions
Cited in 10 cases (2 in the last 5 years), 1986–2025 · leading case: Waterman v. Alta Verde Indus., Inc., 643 F. Supp. 797 (E.D.N.C. 1986).
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Waterman v. Alta Verde Indus., Inc., 643 F. Supp. 797 (E.D.N.C. 1986). · cites it 3× “§ I'll; accord, N.C.G.S. § 78A-24 and -56(a). 5 Plaintiff contends that the Alta Verde program is an “investment contract” which constitutes a security under 15 U.”
Walker v. Montclaire Hous. Partners, 736 F. Supp. 1358 (M.D.N.C. 1990). · cites it 6× “See N.C.Gen.Stat. § 78A-24 (1985). Defendants admit that they did not register the Montclaire securities in the State of North Carolina.”
State v. Williams, 390 S.E.2d 746 (N.C. Ct. App. 1990). · cites it 2× “Defendant stipulated prior to trial that the security (stock certificate) issued to Van Leiderkerke on 11 March 1983 was unregistered in violation of § 78A-24, and that the security was required to be sold by a registered dealer and salesman under § 78A-36.”
Watts v. Slough, 592 S.E.2d 274 (N.C. Ct. App. 2004). · cites it 2× “Slough only: (1) sale of unregistered securities in violation of N.C. Gen. Stat. §§ 78A-24 and -56(a), (2) sale of securities by an unlicensed person in violation of N.”
Hale v. MacLeod (N.C. Ct. App. 2024). · cites it 4× “Second, under N.C. Gen. Stat. § 78A-24: It is unlawful for any person to offer or sell any security in this State unless (i) it is registered under this Chapter, (ii) the security or transaction is exempted under [N.”
Latta v. Rainey, 689 S.E.2d 898 (2010). · cites it 2× “§ 78A-56(f) provides that claims for selling unregistered securities in *596 violation of N.C. Gen. Stat. § 78A-24 (2009) or being an unregistered securities dealer in violation of N.”
Saw Plastic, LLC v. Sturrus, 2017 NCBC 75 (N.C. Bus. Ct. 2017). · cites it 4× “As a separate cause of action, Plaintiffs allege that Defendants violated G.S. § 78A-24, which provides that “[i]t is unlawful for any person to offer or sell any security .”
Horton (E.D.N.C. 2025). · cites it 2× “78A- 56(f), which prescribes a two-year limit for lawsuits brought under section 78A-24 or section 78A-36 and a three-year limit, beginning when “the person discovers facts constituting the violation,” for all other claims.”
Brown v. Secor, 2017 NCBC 65 (N.C. Bus. Ct. 2017). · cites it 2× “Brown asserts that Defendants violated N.C. Gen. Stat. § 78A-24 by failing to register the oral agreement and the MIPA as securities.”
Wordsworth v. Warren, 2018 NCBC 106 (N.C. Bus. Ct. 2018). · cites it 2× “§ 78A-56(a)(2), unlawful solicitation of unregistered securities in violation of G.S. § 78A-24, unlawful business transactions as an unregistered dealer in violation of G.”
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