37-25A-43. Fraud, deceit, and misleading statements and omissions prohibited in connection with offer or sale.
No person, in connection with the offer or sale of any business opportunity in this state, may:
(1)Employ any device, scheme, or artifice to defraud;
(2)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)Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
Source: SL 1985, ch 305, §43.