17-12a501. General fraud.

17-12a501

Chapter 17.--CORPORATIONS
Article 12a.--UNIFORM SECURITIES ACT

      17-12a501.   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 omit to state a material fact necessary in order to make a 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.

      History:   L. 2004, ch. 154, § 30; July 1, 2005.