Tennessee § 48-1-104 Securities registration requirement - Civil penalty

Tennessee Statutes

§ 48-1-104 — Securities registration requirement - Civil penalty

Tennessee § 48-1-104

Title48

This text of Tennessee § 48-1-104 (Securities registration requirement - Civil penalty) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 48-1-104 (2026).

Text

(a)It is unlawful for any person to sell any security in this state unless:

(1)It is registered under this part;

(2)The security or transaction is exempted under § 48-1-103 ; or (3) The security is a covered security.

(b)The commissioner may, after notice and opportunity for a hearing under the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, impose a civil penalty against any person found to be in violation of this section, or any rule or order adopted or issued under this section, in an amount not to exceed ten thousand dollars ($10,000) per violation, or in an amount not to exceed twenty thousand dollars ($20,000) per violation if an individual who is a designated adult is a victim.

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(a) It is unlawful for any person to sell any security in this state unless: (1) It is registered under this part; (2) The security or transaction is exempted under § 48-1-103 ; or (3) The security is a covered security. (b) The commissioner may, after notice and opportunity for a hearing under the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, impose a civil penalty against any person found to be in violation of this section, or any rule or order adopted or issued under this section, in an amount not to exceed ten thousand dollars ($10,000) per violation, or in an amount not to exceed twenty thousand dollars ($20,000) per violation if an individual who is a designated adult is a victim.

Legislative History

Amended by 2017 Tenn. Acts, ch. 424,s 11, eff. 5/18/2017. Acts 1980, ch. 866, § 4; T.C.A., §48-16-104; Acts 1997, ch. 164, § 3; 2001, ch. 61, § 2; T.C.A., § 48-2-104.