A person may not offer or sell any security in this State unless:
(1) The security is registered under this title;
(2) The security or transaction is exempted under Subtitle 6 of this title; or
(3) The security is a federal covered security.
Md. Code Ann., Corps. & Ass'ns § 11-501
Known as the Maryland Securities Act
The act spans §§ 11–11 (65 sections).
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.