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 § 73-207 of this title; or

(3) It is a federal covered security for which a notice filing has been made pursuant to the provisions of § 73-208 of this title.

6 Del. C. 1953, § ?7304; 59 Del. Laws, c. 208, § ?1; 71 Del. Laws, c. 162, § ?6; 78 Del. Laws, c. 175, §§ ?6, 7, 88, 118;

Terms Used In Delaware Code Title 6 Sec. 73-202

  • Federal covered security: means any security that is a covered security under § 18(b) of the Securities Act of 1933 [15 U. See Delaware Code Title 6 Sec. 73-103
  • Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Delaware Code Title 6 Sec. 73-103
  • Security: means any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in any profit-sharing agreement; collateral-trust certificate; preorganization certificate or subscription; transferable share; investment contract, including pyramid promotion which includes any plan or operation for the sale or distribution of property, services, or any other thing of value wherein a person for a consideration is offered an opportunity to obtain a benefit which is based in whole or in part on the inducement, by himself or herself or by others, of additional persons to purchase the same or a similar opportunity; voting-trust certificate; certificate of deposit for a security; certificate of interest of participation in an oil, gas or mining title or lease or in payments out of production under such a title or lease; options on commodities; viatical settlement investment; or, in general, any interest or instrument commonly known as a "security" or any certificate of interest or participation in, temporary or interim certificate, for, receipt for guarantee of, or warrant or right to subscribe to or purchase, any of the aforegoing. See Delaware Code Title 6 Sec. 73-103
  • sell: includes every contract of sale of, contract to sell or disposition of a security or interest in a security for value. See Delaware Code Title 6 Sec. 73-103
  • State: means the District of Columbia or the Commonwealth of Puerto Rico or any state, territory, possession, or other jurisdiction of the United States other than the State of Delaware. See Delaware Code Title 6 Sec. 17-101