Are promissory notes considered securities and, if so, do sellers have to be registered?
Generally, yes. The promissory note itself should be registered as a security. Persons or firms selling promissory notes may have to be registered as dealers, salespersons, investment advisers or investment adviser representatives. 7. Does Georgia register solicitors? Georgia does not have a separate solicitation registration provision. However, it is unlawful for a solicitor to be paid a fee with respect to solicitation activities in a manner which does not comply with Rule 206 (4)-3 under the Federal Investment Advisers Act of 1940. Please see Georgia Regulation 590-4-8-.17 (1)(m).
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