Ga. Code § 10-5-20 : COMMERCE AND TRADE — GEORGIA UNIFORM SECURITIES ACT OF 2008 — SALES OF SECURITIES —5-20 - Restrictions on sales of securities TEXT PDF It is unlawful for a person to offer or sell a security in this state unless: (1) The security is a federal covered security; (2) The security, transaction, or offer is exempted from registration under Code Sections 10-5-10 through 10-5-12; or (3) The security is registered under this chapter. OCGA § 10-5-20 Added by 2008 Ga. Laws 528,§ 1, eff. 7/1/2009.