§ 409-5-501

Title XXVI TRADE AND COMMERCE Chapter 409 • Effective - 01 Sep 2003, see footnote 409.5-501. General fraud. — It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly: (1) To employ a device, scheme, or artifice to defraud; (2) To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading; or (3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person. ­­-------- (L. 2003 H.B. 380) Effective 9-01-03, see § 409.7-701