Ratliffe v. Hartsfield Co.

Hutcheson, Justice.

The plaintiff contends that the investment certificate does not come within the purview of the securities act, because it was issued by the plaintiff as a building and loan association or like association under the Code of 1933, § 16-101, and as such should be considered as a class A or class B security under said act. The act of 1930 (Ga. L. 1930, p. 351) defines “securities” as “stocks, bonds, debentures, notes, certificates of participation, certificates of shares of interest, preorganization certificates and sub*666scriptions, certificates evidencing shares in trust estates…