A person, firm, corporation, or association, or an agent or employee thereof, who, with intent to sell courses of instruction or to dispose of merchandise, real estate, securities, or service or to induce the public to enter into any obligations relating thereto, shall knowingly make, publish, circulate, or place before the public on radio or television or in a newspaper, magazine, or other publication or in form of a book, notice, circular, pamphlet, letter, handbill, poster, bill, sign, placard, card, label, or tag, or through an electronic communication, an advertisement, or statement regarding educational advantages, merchandise, real estate, securities or service, which advertisement or statement shall contain anything untrue, deceptive, or misleading, shall be fined not more than $1,000.00. (Amended 1967, No. 20, eff. March 3, 1967; 1999, No. 124 (Adj. Sess.), § 5.)