It is unlawful for any person to offer or sell any security in this state unless: (1) The security is registered by coordination or qualification under this chapter; (2) the security or transaction is exempted under RCW 21.20.310, 21.20.320, or 21.20.880; or (3) the security is a federal covered security, and, if required, the filing is made and a fee is paid in accordance with RCW 21.20.327.
RCW 21.20.140
Unlawful to offer or sell unregistered securities—Exceptions.
Known as the The Securities Act
The act spans §§ 21–21 (75 sections).
Applied in 24 court decisions — leading case 110 Wash. 2d 415 - Hoffer v. State (1988)
Most recently applied in GOZNET, INC. v. FreeYellow. Com, Inc. (September 2006)
2016 c 61 s 4; 1998 c 15 s 11; 1975 1st ex.s. c 84 s 10; 1959 c 282 s 14.
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.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.