2019 Connecticut General Statutes
Title 36b - Connecticut Securities Law and Business Opportunity Investment Act
Chapter 672a - Uniform Securities Act
Section 36b-16 - (Formerly Sec. 36-485). Registration of security prior to offer or sale required. Exceptions.

Universal Citation: CT Gen Stat § 36b-16 (2019)

No person shall offer or sell any security in this state unless (1) it is registered under sections 36b-2 to 36b-34, inclusive, (2) the security or transaction is exempted under section 36b-21, or (3) the security is a covered security provided such person complies with any applicable requirements in subsections (c), (d) and (e) of section 36b-21.

(P.A. 77-482, S. 16; P.A. 81-292, S. 5; P.A. 89-220, S. 5; P.A. 97-220, S. 8, 15; P.A. 10-141, S. 11.)

History: P.A. 81-292 deleted “or from” after “within”; P.A. 89-220 made a technical change; Sec. 36-485 transferred to Sec. 36b-16 in 1995; P.A. 97-220 added Subdiv. (3) re covered securities, effective July 1, 1997; P.A. 10-141 replaced reference to Sec. 36b-33 with reference to Sec. 36b-34, effective June 7, 2010.

See Sec. 3-123ee re exemption for Connecticut Home Care Trust Fund participation, offering and solicitation.

Cited. 233 C. 304. Defendant's claim that her convictions under statute should be reversed because she reasonably relied on advice of legal counsel in selling unregistered securities is unavailing; offense of selling unregistered securities requires proof only that defendant intended to do the act prohibited by statute and no specific intent to violate the law is required. 256 C. 313.

A note that does not require payment until expiration of a 9-month period does not fall within the exemptions from registration provided for in Sec. 36b-21. 77 CA 621.

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