2010 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 42 - Securities Generally
Subchapter 5 - Regulation of Transactions
§ 23-42-507 - Fraud or deceit in connection with offer, sale, or purchase of securities.

23-42-507. Fraud or deceit in connection with offer, sale, or purchase of securities.

It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly:

(1) To employ any device, scheme, or artifice to defraud;

(2) To make any untrue statement of a material fact or to 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) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.