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.
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