2013 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 14 - UNIFORM SECURITIES ACT (2004)
Part 5 - FRAUD AND LIABILITIES
Section 30-14-501 - GENERAL FRAUD.


ID Code § 30-14-501 (2013) What's This?

30-14-501. 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 statements made, in light of the circumstances under which they were made, not misleading;

(3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person; or

(4) To divert investor money to the personal use of the issuer, offeror or seller, or to pay prior investors without specifically disclosing that use before receiving the investor's money.


History:

[30-14-501, added 2004, ch. 45, sec. 2, p. 209; am. 2012, ch. 65, sec. 6, p. 185.]

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