Sale of unregistered nonexempt securities

It is unlawful for any person to offer or sell any security in this state unless: (1) It is registered under this chapter; (2) The security or transaction is exempted under § 23-42-503 or § 23-42-504 ; or (3) It is a covered security. Acts 1959, No. 254, § 7; A.S.A. 1947, § 67-1241; Acts 1997, No. 173, § 18. It is unlawful for any person to offer or sell any security in this state unless: (1) It is registered under this chapter; (2) The security or transaction is exempted under § 23-42-503 or § 23-42-504 ; or (3) It is a covered security. Acts 1959, No. 254, § 7; A.S.A. 1947, § 67-1241; Acts 1997, No. 173, § 18.