§ 71-1-501. 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.

Added by Laws 2003, c. 347, § 29, eff. July 1, 2004.