Alabama · Code of Alabama — full code (public domain; via Open US Law, CC BY 4.0)
Ala. Code § 27-27-55: Ala. Code § 27-27-55
What this law says, in plain English
It is unlawful for a beneficial owner, director, or officer to sell equity securities without owning them or to fail to deliver them within 20 days of sale, unless good faith prevented timely delivery or deposit.
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