There is a newer version of the Maryland Code
Maryland Corporations and Associations Section 11-301
§ 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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