Section 27-29-40 - Prerequisites to disposition of interest in subdivided landUnless the subdivided lands or the transaction is exempt by Section 27-29-30:
(1) No person may in this State offer or dispose of any interest in subdivided lands prior to the time the subdivided lands are registered in accordance with this chapter;(2) No person may dispose of any interest in subdivided lands unless a current public offering statement is delivered to the purchaser and the purchaser is afforded a reasonable opportunity to examine the public offering statement prior to the disposition.1968 (55) 3052; 1962 Code Section 57-554.