Sec. 51.301. PROHIBITED ACTS. A seller may not:
(1) employ a representation, device, scheme, or artifice to deceive a purchaser;
(2) make an untrue statement of a material fact or omit to state a material fact in connection with the documents and information required to be provided to the secretary of state or purchaser;
(3) represent that the business opportunity provides or will provide income or earning potential unless the seller:
(A) has documented data to substantiate the representation of income or earning potential; and
(B) discloses the data to the purchaser when the representation is made; or
(4) make a claim or representation that is inconsistent with the information required to be disclosed by this chapter in:
(A) advertising or other promotional material; or
(B) an oral sales presentation, solicitation, or discussion between the seller and the purchaser.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Structure Texas Statutes