§16501. General fraud
It is unlawful for a person, in connection with the offer, sale or purchase of a security, directly or indirectly: [PL 2005, c. 65, Pt. A, §2 (NEW).]
1. Device, scheme, artifice. To employ a device, scheme or artifice to defraud;
[PL 2005, c. 65, Pt. A, §2 (NEW).]
2. Untrue statement of or omission of material fact. To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
[PL 2005, c. 65, Pt. A, §2 (NEW).]
3. Fraud, deceit. To engage in an act, practice or course of business that operates or would operate as a fraud or deceit upon another person.
[PL 2005, c. 65, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 65, §A2 (NEW).
Structure Maine Revised Statutes
TITLE 32: PROFESSIONS AND OCCUPATIONS
Chapter 135: MAINE UNIFORM SECURITIES ACT
Subchapter 5: FRAUD AND LIABILITIES
32 §16502. Prohibited conduct in providing investment advice
32 §16504. Filing of sales and advertising literature
32 §16506. Misrepresentations concerning licensing, registration or exemption
32 §16511. Right to rescission applicable to sales of viatical or life settlement contracts