Section 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.

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(L. 2003 H.B. 380)

Effective 9-01-03