Georgia Senate bill by author Sen. Walker expanding commissioner enforcement powers in securities cases passes House and Senate

Newly passed bill authored by State Sen. Larry Walker, III aims to strengthen enforcement of securities laws by empowering the commissioner to issue orders, impose penalties, and pursue court action, according to the Georgia State Senate.

It passed both chambers as of Friday, March 27, clearing the House by a vote of 155-0 and the Senate by a vote of 44-0.

The bill, introduced as SB284 on Wednesday, Feb. 26 during the 2026 regular session of the 158th General Assembly, was formally described as: ’"Georgia Uniform Securities Act of 2008,"; issuance of orders by the Commissioner of Securities directing persons who have violated certain securities provisions to return; authorize’.

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill amends the Georgia Uniform Securities Act of 2008, allowing the Commissioner of Securities to issue orders directing persons who have violated specific securities provisions to return sums paid by investors, customers, or clients in connection with securities purchases. The bill revises Code Section 10-5-73 to empower the Commissioner to issue cease and desist orders, deny or revoke exemptions for broker-dealers or investment advisers, and impose civil penalties up to $50,000 for a single violation or $500,000 for multiple violations. Orders become effective on the date of issuance, and the Commissioner must serve notice promptly. Parties have 30 days to request a hearing or the order becomes final; modifications can occur after notice and hearing opportunities. Additionally, the Commissioner may charge investigation costs, enforce orders via court, and pursue civil contempt penalties from $5,000 to $50,000 for noncompliance. Conflicting laws are repealed.

In the Senate, 13 Democrats and 31 Republicans voted in favor of the bill, with no opposition.

Meanwhile, in the House, 63 Democrats and 92 Republicans voted in favor, also with no opposing votes.

The bill was co-sponsored by Rep. Scott Hilton (Republican-48th), Sen. Matt Brass (Republican-6th), and Sen. Clint Dixon (Republican-45th), along with six other co-sponsors.

Walker graduated from the University of Georgia in 1987 with a BBA.

Walker, a Republican, was elected to the Georgia State Senate in 2015 to represent the state's 20th Senate District, replacing previous state senator Ross Tolleson.

The bill was signed into law by Gov. Brian Kemp on Wednesday, April 22.

In Georgia, the legislative process begins when a lawmaker, often at a constituent’s request, works with the Office of Legislative Counsel to draft a bill. After filing with the Clerk of the House or Secretary of the Senate, the bill receives its first reading and is sent to a committee, where most of the debate and fact-finding takes place. If approved, it advances to the floor for a third reading, debate, and a vote. To become law, the bill must pass both chambers, sometimes through a conference committee if versions differ, before being sent to the governor. The governor then has six days during session—or 40 days after adjournment (Sine Die)—to sign, veto, or allow the bill to become law without a signature. The Georgia General Assembly meets annually for a 40-day session beginning the second Monday in January.

Information in this article was obtained from the Georgia State Senate. The source data can be found here.