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.
Ark. Code Ann. § 23-42-501
Sale of unregistered nonexempt securities
Known as the Arkansas Securities Act
The act spans §§ 23–23 (46 sections).
Applied in 5 court decisions — leading case Hunter v. State (1997)
Most recently applied in 428 F. Supp. 2d 915 - Hamby v. Clearwater Consulting Concepts, LLLP (April 2006)
Acts 1959, No. 254, § 7; A.S.A. 1947, § 67-1241; Acts 1997, No. 173, § 18.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.