Maryland Statutes
Subtitle 3 - Fraudulent and Other Prohibited Practices
Section 11-301 - Offers, Sales, or Purchases

It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly to:
        (1)    Employ any device, scheme, or artifice to defraud;
        (2)    Make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
        (3)    Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit on any person.

Structure Maryland Statutes