2013 South Carolina Code of Laws
Title 35 - Securities
CHAPTER 1 - SOUTH CAROLINA UNIFORM SECURITIES ACT OF 2005
SECTION 35-1-501. General fraud.


SC Code § 35-1-501 (2013) What's This?

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; 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.

HISTORY: 2005 Act No. 110, Section 1, eff January 1, 2006.

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