Wisconsin § 551.301 - Securities registration requirement.

§ 551.301. Securities registration requirement.

It is unlawful for a person to offer or sell a security in this state unless any of the following apply: 551.301(1) (1) The security is a federal covered security. 551.301(2) (2) The security, transaction, or offer is exempted from registration under this chapter. 551.301(3) (3) The security is registered under this chapter. 551.301 History History: 2007 a. 196 . 551.301 Annotation Section 551.21 (1) is violated through an offer to sell an unregistered security, even if no sale occurs. State v. Johnson, 2002 WI App 224 , 257 Wis. 2d 736 , 652 N.W.2d 642 , 01-1092 . 551.301 Annotation When a certificate of stock was mailed to the plaintiff in Wisconsin, and extensive solicitation was conducted by the defendants in Wisconsin, there was an “offer” within former s. 551.02 (11) (b), 1969 stats. Since the securities were neither registered in Wisconsin nor exempt from registration, the plaintiff was entitled to rescind the transaction and recover the purchase price of the securities, plus costs. Hardtke v. Love Tree Corp., 386 F. Supp. 1085 (1975). 551.301 Annotation Discussing registration and reporting requirements for exempt transactions. Feitler v. Midas Associates, 418 F. Supp. 735 (1976). 551.301 Note NOTE: The above annotations refer to this chapter as it existed prior to its repeal and recreation by 2007 Wis. Act 196 .