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 sections 409.2-201 to 409.2-203; or
- (3) The security is registered under this act.
(L. 2003 H.B. 380)
Effective 9-01-03, see § 409.7-701