Maryland Corporations and Associations Section 11-301

Article - Corporations and Associations

§ 11-301.

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

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

            (2)      Make any untrue statement of a material fact or 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)      Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit on any person.



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