It is unlawful for any person in connection with the offer, sale, or purchase of any motor fuel franchise directly or indirectly:
(1) To sell or offer to sell a motor fuel franchise in this state by means of any written or oral communication which includes an untrue statement of a material fact or omits 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.
(2) To employ any device, scheme, or artifice to defraud.
(3) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
[ 1986 c 320 § 8.]