(a) (1) Neither the fact that an application for registration under Subtitle 4 of this title or a registration statement or notice filing under Subtitle 5 of this title has been filed, nor the fact that a person or security is effectively registered constitutes a finding by the Commissioner that any document filed under this title is true, complete, and not misleading.
(2) Neither any such fact nor the fact that an exemption or exception is available for a security or a transaction means that the Commissioner has passed in any way on the merits or qualifications of, or has recommended or given approval to, any person, security, or transaction.
(b) It is unlawful to make, or cause to be made, to any prospective purchaser, customer, or client any representation inconsistent with subsection (a) of this section.
Structure Maryland Statutes
Title 11 - Maryland Securities Act
Subtitle 3 - Fraudulent and Other Prohibited Practices
Section 11-301 - Offers, Sales, or Purchases
Section 11-302 - Advisory Activities
Section 11-303 - Misleading Filings
Section 11-304 - Unlawful Representations Concerning Registration, Notice Filing, or Exemption
Section 11-305 - Senior Investment Protection
Section 11-306 - Dishonest or Unethical Practices by Broker-Dealer or Agent Prohibited