{"data":{"id":"us-md/md.-code-corporations-and-associations-11-501","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 11–501","heading":"","body":"A person may not offer or sell any security in this State unless:\n(1) The security is registered under this title;\n(2) The security or transaction is exempted under Subtitle 6 of this title; or\n(3) The security is a federal covered security.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=11-501","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"0e4575a81971db066e86d3b513de13a67d3e90f8f37130166104636e47d23878","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-11-417","next":"us-md/md.-code-corporations-and-associations-11-502"},"notice":"GroundRules: Original legal text. Not legal advice."}